French plastic parts supplier Plastic Omnium SA has unveiled plans to invest 2.5 billion euros ($2.9 billion) in building new capacities and technology over the next four years.
During its Investors Day presentation on Dec. 13, the automotive supplier said the investment would also be directed at optimizing industrial facilities through Industry 4.0 and operational excellence, as well as developing new programs and launching new research projects.
The increase in innovation capacity will enhance the company's capability to address the looming challenges for the automotive industry, including the development of carbon-free, connected and autonomous cars.
In the area of carbon-free cars, Plastic Omnium is positioning itself as a supplier of storage for each form of energy. The company said it is developing specific solutions for plug-in hybrid vehicles (PHEV), turbocharged engine vehicles and electric vehicles.
The company has also become involved in fuel cell propulsion.
For the connected and autonomous car, the French giant is positioning itself as the integrator of connectivity and to that end is developing innovation capacity in complex modules that integrate radar and sensors in the exterior parts.
“By 2025, smart bumpers and smart tailgates will represent greater added value and embedded intelligence. These new positions will enable Plastic Omnium to pursue long-term profitable and value-creating growth,” Plastic Omnium added.