By Nathan Vifflin
((Reuters)) – The world’s seventh largest car parts supplier Forvia will bring its partnership with Chinese battery specialist and car maker BYD to Europe, it said on Tuesday.
Forvia said the two companies will operate together in BYD’s new factory in Hungary, as an extension of their current partnership in Asia.
“Our collaboration has already resulted in significant achievements in Asia, and we are confident that this expansion will drive further innovation and growth in the European market,” Forvia’s CEO Patrick Koller said in a statement.
Car parts makers like Forvia, hurt by lagging global car sales, are seeking to take advantage as Chinese carmakers spread their wings and look to challenge legacy rivals on their home turf.
(Reporting by Nathan Vifflin; Editing by Kirsten Donovan)
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