Yesterday, Visteon and Yanfeng Visteon completed their Visteon China Technology Center in Shanghai Caohejing Technology Development Zone with a 50:50 ratio.
This is Visteon's fifth major investment project in China this year. Compared to its sales to Ford of 23 companies in North America this year, China's important position in its strategic deployment is evident.
Visteon China Technology Center is the fourth technology center of Visteon’s technology centers in the US, UK and India.
According to Mike Johnson, Visteon’s Chairman and Chief Executive Officer, “The newly established China Technology Center will play a key role in the introduction of Visteon’s world-leading technology into China. As a regional center, it will strengthen Visteon’s technical support for Asian operations to better To serve customers. The China Technology Center is an important development for Visteon’s continued development in the Asia Pacific region.â€
It is reported that the technology center will become Visteon’s global electronic system base and Yanfeng Visteon’s corporate headquarters. Yanfeng Visteon is a 50% joint venture between Visteon Corporation and SAIC.
This year, Visteon's "downsizing" in North America began to take effect in October this year, while in China it has been showing an expansion trend. It has acquired and reorganized four companies and established a new Chinese technology center. Unlike other major international component companies, Visteon has 19 joint venture companies in China. The main joint venture partners are SAIC, FAW, Dongfeng, Chang'an, BAIC and other large Chinese automobile groups. (Hu Weiwei)