⏸ As we reached the end of the first semester of 2023, I wanted to hit the "pause" button for a second to share my pride and celebrate the achievements of FORVIA Automotive Seating. We have made major progress and our #poleposition transformation program is fully on track. Let’s all take a look at some of the major milestones we've already accomplished this year:
FORVIA has just announced remarkable results, with €13,6 billion of sales on H1 2023, with an operating margin of 5%.
At FORVIA Seating, in just 6 months, our sales in the period account for an impressive 31% of the total. We have achieved +43% growth in China through our activity with BYD and a major US EV car maker, and a great performance in Europe (+19%). Our operating margin is progressively improving to 3.3% and includes a reduction of €20 million in extra costs.
💺 The revolution of automotive seating is in full swing: The highlight of #CES2023 in Las Vegas was the launch of our #modular #sustainable seat approach, a groundbreaking and equally disruptive innovation for our business.
♻️ Our commitment to sustainability, with a focus on eco-design and circularity for the seats’ conception. We introduced alternative, sustainable materials and developed Auraloop, our 100% recyclable polyester-based fibers cushioning solution.
🌏 Our strengthened industrial presence in strategic locations has been reinforced through the opening of several new plants, including the first plant combining Seating and Interiors activities in Monterrey in Mexico 🇲🇽, a new plant in Zhengzhou, China 🇨🇳, and more recently the first stone of a new plant in Salé, Morocco 🇲🇦.
🤝 Our expansion in the Asian market, where we are further strengthening our partnerships. At the beginning of the year, we signed a contract with Leapmotor. We will open soon our first Seating plant in Thailand in collaboration with our strategic partner BYD.
The Shanghai #AutoShow23 was the perfect platform to showcase our latest innovations developed specifically in and for Asia, including the launch of our zero-gravity Captain Chair. This state-of-the-art seating product is packed with our best technology, delivering unmatched #comfort and personalized features to our Chinese customers.
📰 International recognition, with a strong media presence, especially in China, Germany & France.
These very encouraging results are the direct consequences of everything we've put into action at FORVIA Seating, and as we look ahead to the second half of the year, I am extremely proud of and filled with anticipation for more exciting events and announcements to come.
I want to extend my gratitude and congratulations to the amazing Seating teams who are extremely committed and motivated in order to shape the future of mobility experiences and FORVIA’s success.
To know more, check out the group's full H1 results through the link in the comments ⬇️
#HalfYearResults #FORVIA #FORVIAProud #FORVIASeating #FirstSemester
Congratulations on this significant milestone! The eCampus is not just a facility; it's a hub for pioneering sustainable technologies. By integrating AI and machine learning in battery development, you can further optimize performance and longevity. Additionally, fostering partnerships with academic institutions could accelerate breakthroughs in battery recycling and circular economy practices. Exciting times ahead for Mercedes-Benz and the future of e-mobility! 🚀🔋 #SustainableInnovation #FutureTech