Faurecia, one of the world’s leading automotive technology companies, today signed a strategic cooperation agreement with the global innovation platform Plug and Play in Shanghai. The cooperation agreement is a further expansion from the long-team -partnership between Plug and Play US and Faurecia group. It aims to accelerate Faurecia’s start-up scouting activities in China; and forge stronger ties with the local ecosystem.
Plug and Play, is dedicated to connecting world leading corporations with technology start-ups through industry-focused accelerator programs and innovation services. In China, they have invested more than 100 Chinese startups, and over 1300 startups have entered the “Plug and Play Acceleration Program”. Its enriched resources and experience will certainly support Faurecia to identify, incubate and invest in promising start-ups in China so as to advance technology offering in two directions:
· Cockpit of the Future, with focus on Advanced safety, comfort, connectivity, new material, etc.
· Sustainable Mobility, with focus on zero emission technologies including fuel cell , battery pack, clean solution for city,advanced new materials and process
“Technology evolution of mobility is constantly pushing the boundary of industry. It provokes all kinds of cross-border cooperation in new discipline, new segment and new technology area. Faurecia is fully aware of that. We made great investment to establish open innovation ecosystem. The expanded cooperation with Plug and Play China will certainly reinforce Faurecia’s connection with Chinese start-up community. We believe that China innovation has to focus on China market.” Francois TARDIF, President of Faurecia China declares.
“It is really great to see that Faurecia has extent the cooperation with Plug and Play from Silicon Valley to China this year. Faurecia has been working on innovation for many years, and now, they spread their innovation angle to China by linking with Plug and Play’s eco-system, to combine the pure local China database, collaborate with university, institutes, and all these fresh, new ideas in their minds. It is the great model to elaborate Faurecia’s internal resources, but also united external research, and most talented people, to do the very early and incremental innovations in automobile industry. We are really looking forward to the striking innovation journey of Faurecia with Plug and Play in China.” Peter XU, Managing Partner and CEO of Plug and Play China declares.
Responding to the megatrend, Faurecia undertakes thorough transformation to become an innovation driven technology company. The company established the open innovation ecosystem in China at multi-dimensions. At academic level, Faurecia connected with top universities like Tsinghua University, Shanghai Jiaotong University and Tongji University, to carry out multiple research programs. Eyeing for high-tech innovation, Faurecia has cooperated with Accenture, Baidu and Huawei for artificial intelligence, smart manufacturing and digital transformation etc. Its partners in China also cover OEM customers and downstream suppliers to accelerate the mass production and application of new technologies.
As of 2018, Faurecia has set up 4 technology platforms in Silicon Valley, Toronto, Tel Aviv and Shenzhen with a total investment of 190 million euros in innovation globally.
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Founded in 1997, Faurecia has grown to become a major player in the global automotive industry. With around 300 sites including 46 R&D centers and 122,000 employees in 37 countries, Faurecia is now a global leader in its four areas of business: Seating, Interiors, Clarion Electronics and Clean Mobility. Faurecia has focused its technology strategy on providing solutions for “Cockpit of the Future” and “Sustainable Mobility”. In 2018, the Group posted sales of €17.5 billion. Faurecia is listed on the Euronext Paris stock exchange and is a component of the CAC Next 20 index. For more information, please visit www.faurecia.com
Learn more: www.faurecia.com www.faurecia.cn
About Plug and Play
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in 28 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 220 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 220 leading Silicon Valley VCs, and host more than 700 networking events per year. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk.
In 2015, Plug and Play came to China. As the ultimate technology accelerator and investment institution, Plug and Play is dedicated in helping startups grow through investment, acceleration, corporate innovation, innovative consultant, etc. We collaborate deeply with corporates, governments and universities for open innovation and joint development. Plug and Play China has invested and incubated more than 100 Chinese startups, and more than 1,300 startups have entered the “Plug and Play Unicorn Accelerator Program”. We are working in depth with all the central cities in China to build an acceleration platform for industrial advancement. In addition, we have imported more than 100 technology projects from the US, Germany, Russia, and Plug and Play accelerators in other countries around the world.
For more information, please visit www.pnpchina.com
Learn more: www.pnpchina.com