Faurecia Predicts Financial Outlooks After Michelin Alliance
Last November 26, Faurecia had its Capital Markets Day in Paris. The event has demonstrated the importance of its transformation strategy.
The discussion was implemented at a sustained pace through acquisitions and partnerships.
Moreover, the firm has detailed its 2022 financial outlooks.
In a statement, Patrick Koller, Chief Executive Officer, said, “Despite the challenging market conditions, we have continued to deploy our transformation strategy for the Cockpit of the Future and Sustainable Mobility, while maintaining a strong focus on resilience and Total Customer Satisfaction.”
He also added, “Our new Business Group, Faurecia Clarion Electronics, is a strong enabler for the Cockpit of the Future and has a robust roadmap for profitable growth. At the same time, our investment in Fuel Cell Electric Vehicles will accelerate our Zero Emissions strategy. Additionally, it will allow us to benefit from rapid powertrain electrification.”
“In 2022, we will see record sales, profitability, and cash generation. As a longer-term perspective, we are preparing for the next major disruption and target carbon neutrality by 2030,” Koller said.
Recently, momentum has increased for fuel cell electric vehicles (FCEV). This was mainly for the use of cases demanding more extended autonomy and shorter fueling times than battery electric vehicles (BEV).
Faurecia’s Estimation for E-Vehicles in 2032
On the other side, Faurecia had valuations of 15% for both passenger vehicles and commercial vehicles. All of these will be electric vehicles by 2030.
The estimation is with the portion of FCEV being around 2% for passenger vehicles and 5% for commercial vehicles.
Moreover, Faurecia is progressing its strong innovation momentum for ICE mixes for passenger vehicles. The firm will continue to stand for the 85% rate in the market for 2030.
The Group’s technologies for ultra-clean and the calm ICE engines will boost Faurecia’s content per vehicle by over 20% over the same period.
Meanwhile, for commercial vehicles, Faurecia’s deNOx technologies will expand content per vehicle by over 30%.
There will also be additional growth that will come from the High Horsepower market, which Faurecia goes through the acquisition of Hug Engineering. It is where the missionization rate is rising from 10% in 2018 to 60% in 2030.
In addition, Faurecia is accelerating its investment in fuel cell technologies. The process is through its proficiency in hydrogen loading systems and its joint endeavor with Michelin for fuel cell stack systems.
Elsewhere, Faurecia has already won two industry awards for hydrogen storage systems, with a start out of production in 2021.
