CHONGQING, CHINA (Oct. 24, 2:15 p.m. ET) — Yanfeng Visteon Automotive Trim Systems Co. has begun building its second plant in the southwest China municipality of Chongqing to meet increasing demand of local automakers.
The 600 million yuan ($94 million) plant will produce interior, exterior and safety systems after it becomes operational, according to the Chongqing government.
The parts will be supplied to nearby automakers such as Changan Ford Mazda Automobile Co., Changan Suzuki Motor Corp. and Changan Automobile Co. The plant also will supply commercial truck makers such as SAIC-IVECO Hongyan Commercial Vehicle Co.
Yanfeng Visteon is Visteon Corp.'s joint venture in China, which produces interior, exterior and safety parts. The venture's first plant in Chongqing launched operations in 2003.
Besides Chongqing, Yanfeng Visteon has more than 20 plants across China. Last year's sales totaled 31.4 billion yuan.