French auto-parts maker Faurecia on April 1 said it established its fourth business group, called Faurecia Clarion Electronics, after completing in March the acquisition of Japanese information and entertainment company Clarion Co. Ltd.
Faurecia Clarion Electronics will focus on cockpit electronics and low-speed advanced driver-assistance systems.
Atsushi Kawabata, former president and CEO of Clarion, was named executive vice president of the new business group. Jean-Paul Michel, former finance vice president of Faurecia Interiors, was appointed deputy executive vice president of the new entity.
The new unit will be based in Saitama, Japan, and is expected to generate sales of over €2 billion by 2022.
Faurecia added that it combined Clarion, Parrot Faurecia Automotive and Coagent Electronics to form the new unit. It will have 9,000 employees, including 1,650 engineers, the company said.