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☆ Forvia's shares fall after 'unimpressive' outlook hike
▼ + stars: | 2023-07-27 | by ( Michal Aleksandrowicz | ) www.reuters.com time to read: +2 min

July 27 (Reuters) - Forvia's (FRVIA.PA) shares fell as much as 8% in early trading on Thursday, after a slight hike to the car parts maker's annual targets failed to impress investors. The world's seventh-largest automotive supplier raised its estimate for global auto production to around 86 million light vehicles this year, from 82 million previously. It forecast 2023 sales of 26.5-27.5 billion euros ($29.4-30.5 billion), up from an earlier range of 25.2-26.2 billion. Global automotive production grew more than 10% in the first half of the year, on sustained demand and gradual improvement in semiconductors supply, CEO Patrick Koller said in a statement. Forvia's half-year operating profit jumped nearly 70% to 675 million euros, but was 2% below analysts' consensus estimates, according to a research note by J.P.Morgan.

Persons: Patrick Koller, Olivier Durand, J.P.Morgan, Michal Aleksandrowicz, Milla Nissi, Bernadette Baum Organizations: Global, Thomson Locations: Gdansk

☆ At Shanghai show, auto rivals lure drivers with in-car karaoke, crystal balls
▼ + stars: | 2023-04-20 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +4 min

[1/2] A Zeekr X is displayed at the Auto Shanghai show, in Shanghai, China April 18, 2023. REUTERS/Aly SongSHANGHAI, April 20 (Reuters) - Automakers keen to make a splash at the Shanghai auto show showed off vehicles boasting features from crystal balls to in-car karaoke systems and 3D dashboards, as competition to attract drivers heats up in the world's largest auto market. Chinese automakers have been grabbing market share from foreign rivals in recent years in part by courting drivers with tailored lifestyle services and by releasing new models more quickly. "So many new vehicles, so many new Chinese vehicles looking very good," said Patrick Koller, chief executive of French auto parts supplier Faurecia (EPED.PA). This costs a fortune and it doesn't give you the time to really mature innovations and technology," Koller said.

☆ As EV costs tumble in China, an export wave builds
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +4 min

[1/5] People use their phones in front of the BYD Seagull that is displayed at the Auto Shanghai show, in Shanghai, China April 19, 2023. Patrick Koller, chief executive of French auto supplier Faurecia (EPED.PA), said the entry-level EV market in Europe was an open lane for Chinese automakers. Koller said he had met with the CEO or chairman of more than two dozen Chinese automakers in Shanghai. Renault’s (RENA.PA) Dacia ships the Spring EV, an entry-level hatchback like the BYD Seagull, to Europe and ranked as the second-largest EV exporter from China last year after Tesla. BYD has not announced export plans for the Seagull, which is priced below what is now the best selling EV in China, the BYD Dolphin, which is priced from 116,800 yuan ($17,000) in China.

☆ French car parts group Faurecia to sell SAS cockpit unit to Motherson
▼ + stars: | 2023-02-19 | by ( ) www.reuters.com time to read: +1 min

PARIS, Feb 19 (Reuters) - French car parts maker Faurecia (EPED.PA) has agreed to sell its SAS Cockpit Modules arm to automotive supplier Motherson Group (SAMD.NS), in a transaction based on an enterprise value of 540 million euros ($577.5 million), Faurecia said on Sunday. Faurecia last year took over German rival Hella (HLE.DE) to form a new European car parts company called FORVIA, and Faurecia chief Patrick Koller said the sale of the SAS business would help FORVIA to focus better on its core activities. "I am convinced that this transaction would unlock additional value for SAS," Koller said in a statement. "This would also allow FORVIA to focus on its core business activities developing breakthrough technologies and would fulfil our non-strategic asset divestment programme of 1 billion euros by end-2023," he added. ($1 = 0.9351 euros)Reporting by Sudip Kar-Gupta; Editing by David Goodman and David HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ For automakers, the EV surge is everything everywhere all at once
▼ + stars: | 2023-01-26 | by ( Joseph White | ) www.reuters.com time to read: +4 min

He must accelerate the Japanese automaker's efforts to develop more competitive electric vehicles. But he will get little breathing room from Tesla or the Chinese EV manufacturers who are using their leads in EV technology and production costs to slash prices. THE SHIFTING GROUNDGlobal automakers are experienced with periods of feast and famine that come on roughly seven-to-ten year cycles. South Korea's Hyundai Motor Co (005380.KS) on Thursday reported better-than-expected results powered in part by strong sales of its new EV lineup. Hyundai forecast its EV sales would grow by 54% this year - a faster growth pace than Tesla has forecast.

☆ China has a 10,000 euro cost advantage in small EVs, auto supplier says
▼ + stars: | 2023-01-05 | by ( Joseph White | ) www.reuters.com time to read: +3 min

The issue is "more dangerous" for Europe than the United States, Koller told Reuters in an interview, as high duties have limited China's U.S. market share. Koller said Chinese EV makers can produce vehicles for less because they have lower research and development costs, lower levels of capital spending and lower labour costs than rivals in Europe. Forvia, the company created when French auto supplier Faurecia took 82% control of German supplier Hella, is the seventh largest automotive component maker in the world. By contrast, high duties in the United States on Chinese-made vehicles have so far kept China's share of the U.S. auto market negligible. Koller said Forvia will invest more in the United States, in part to take advantage of federal incentives provided in the Inflation Reduction Act signed into law in August.

☆ Stellantis in talks to buy 'substantial' stake in hydrogen mobility company Symbio
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +1 min

MILAN, Dec 23 (Reuters) - Stellantis (STLA.MI) has entered exclusive talks with France's Faurecia (EPED.PA) and Michelin (MICP.PA) to buy a "substantial" stake in their Symbio joint venture, a fuel cell system maker for hydrogen mobility, the three companies said on Friday. Stellantis, the world third-largest carmaker, launched hydrogen-powered mid-size vans late last year and aims to expand its hydrogen offer to large vans in Europe in 2024 and in the U.S. in 2025, "while further exploring opportunities for heavy-duty trucks". Stellantis entry "will accelerate and globalize Symbio's growth," Faurecia's CEO Patrick Koller said. The transaction, for which no financial details were provided, is expected to be finalised in the first half on next year, the three companies said in their statement. Reporting by Giulio Piovaccari, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Faurecia may be 'last of the Mohicans' in pollution control - CEO
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

The new group, whose activity portfolio now includes hydrogen storage, seats, cockpit, lighting, and pollution control, will present its medium-term strategy on Nov. 4. Koller also confirmed the group's objective of reaching 250 million euros ($244 million) in synergies and one billion euros in asset disposals, which he announced shortly after the Hella acquisition. "As for synergies, we are perfectly in line with our business plan. As for asset disposals, we are perfectly confident in our ability to deliver on this billion," he said. ($1 = 1.0227 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Gilles Guillaume, writing by Louise Rasmussen; editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

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