What business leaders are watching at CIIE: Part I

1. What are some highlights of your exhibits at the China International Import Expo? Are you launching any new products, technologies or solutions?

Faurecia will bring our most advanced and cutting-edge technologies to CIIE, based on two innovation directions: Smart Life on Board and Sustainable Mobility.

The rapid development of autonomous driving and increasing demand for connectivity is driving disruptive transformations of the Chinese auto industry. Faurecia will introduce the Cockpit of the Future at CIIE, which is aims to create safer, smarter and more convenient experiences on board. Audiences at CIIE will also discover the latest products for many international premium auto brands, such as Tesla and Lamborghini.

Environmental concerns are driving more stringent regulations on emissions, while cities are looking for innovative ways to improve air quality. Through our technology expertise, we will showcase our latest solutions for smarter and cleaner mobility with advanced fuel cell systems, power battery systems, the Clean Drive App for cities and ASDS advanced air quality technology.

2. In terms of deals, what do you expect from the CIIE? Who are you targeting?

Unprecedented in scale and far-reaching in impact, the first CIIE will gather world-leading enterprises from over 130 countries and regions and a large number of professional buyers at the this mega expo. Shanghai is set to be under the spotlight of the world during CIIE, which will provide CIIE participants, including Faurecia, with strong exposure in China.

As the first batch of MNCs signing up for CIIE, Faurecia believes CIIE will be the best platform for us to showcase cutting-edge innovations while enhancing communication with local customers, business partners and other stakeholders in this market. Diversified support activities such as supply-demand matchmaking meetings will also facilitate exchange with local enterprises to explore potential cooperation opportunities.

3. Do you think the CIIE could eventually help drive the development or upgrade of the industry your company is in, and your company’s strategy in China?

“New Era, Shared Future”, China is opening the new chapter of further opening-up and sends a strong message to the world through hosting the first CIIE. The convening of CIIE also indicates China’s determination to free trade and multilateralism.

Since the implementation of the reform and opening-up policy, the Chinese automotive industry has embarked on the fast track of development to become the world’s largest auto market. Looking ahead, the further opening-up of China will unleash new potential for the industry, driven by more bilateral and multilateral cooperation between MNCs and local enterprises. MNCs like Faurecia expect to seize new growth opportunities amid a fair and sound business environment. We will adhere to our China Priority strategy while actively engaging in the upgrade of the industry.

CIIE also provides us with a perfect platform to expand the Open Innovation Ecosystem in China with academic research institutions, industry associations and start-ups to activate innovation capabilities. Meanwhile, improved environment for intellectual property protection also gives us stronger confidence to expand technology cooperation with related organization in China.

4. What’s your view on China’s pledge to further open up its markets to foreign companies? How would that benefit your business? Please give specific examples.

Since entering the Chinese market in 1992, Faurecia has witnessed and been deeply involved in the process of China’s reform and opening-up. In the new era, China’s economy is in transformation, shifting from focus on speed to quality. This includes the auto industry. Faurecia believes China will develop toward a more open and dynamic economy. We’ll seize new opportunities to expand our investment and deepen cooperation locally.

At the Boao Forum, a series of further opening-up policies were announced that included easing foreign equity restrictions, broadening China’s market access and lowering tariffs on imports goods, which also have direct reflection to automotive industry. Foreign auto companies are also encouraged to establish R&D centers in China, pushing forward reform of the industry.

Benefiting from the national policy, Faurecia is expanding cooperation with local OEMs, establishing joint ventures with ChangAn, Dongfeng, BYD and Liuzhou Wuling to co-develop innovative solutions. We also signed a strategic partnership agreement with China FAW Group to elevate our cooperation to a new height.

5. What is your forecast for China’s economy in the next three years? What key issues will you be watching for?

Faurecia keeps faith in the great prospect of China’s economic development in the coming years. First, the innovation-driven development strategy and further opening-up policy will fully invigorate the economy in the long run. China is setting its sights on becoming a technology and innovation leader, particularly in the domains of Internet of Things, zero emissions and artificial intelligence. Chinese OEMs are already pioneering technology innovation in many aspects, such as autonomous driving and HMI, which will drive sustainable development of the auto industry in the next three years.

In addition, China will continue to adjust industry structure and build a modernized economic system to cushion downward pressure and remain steady economic growth. We believe the structural upgrade of the Chinese economy will also further the high-quality development in advanced manufacturing sectors with more demand for innovative products, which will generate more opportunities for us to leverage our expertise in the local market.