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Public Relations - North America

Yanfeng Automotive Interiors unveils XiM20 autonomous rideshare vehicle interior

Products & Technologies
Sunnyvale, California
23/01/2019
Yanfeng Automotive Interiors unveils XiM20 autonomous rideshare vehicle interior
Concept showcases future interior experiences for autonomous rideshare

Yanfeng Automotive Interiors, the world’s largest automotive interior supplier, today unveiled the Experience in Motion demonstrator 2020 (XiM20), in Sunnyvale, California. This is a fully autonomous rideshare concept, offering new consumer experiences that are customizable to passenger’s preferences to better suit their journeys. XiM20 is a reflection of the most in-depth primary research the company has done to date.

“Approaching this next iteration of the XiM demonstrator, we knew it was critical to evaluate users’ wants and needs within the vehicle and outside of the mobility context,” said Han Hendriks, Chief Technology Officer, Yanfeng Automotive Interiors. “The insights gleaned from our research defined what impacts consumers’ quality of life and what creates memorable, engaging experiences. With the XiM20, advanced technologies and product innovations complement intuitive design, providing flexibility and comfort for the autonomous rideshare passengers of tomorrow.”

The XiM20 showcases technology integrations that stimulate the senses without overwhelming passengers with an array of options and features. By camouflaging the demonstrator’s screens and navigation systems within the surfaces of the vehicle using Smart Surface Technologies, passengers can choose whether or not to engage with the innovations around them.

“As an industry leader, we have the capabilities to provide holistic total interior solutions. As we approached this iteration of the XiM, we had to ask ourselves: If we choose to feature every product and technology available within this space, are we offering value? Our research said “no.” Instead, to design and develop interiors in this context, we needed to understand and craft experiences that are engaging and surprising, without being overly complex. For future mobility, this is where the opportunity lies.” added Hendriks.

The XiM20 interior is designed to enable the use of two distinct zones: the bright, airy front of the demonstrator and the more cocoon-like rear, offering lounge seating and privacy. Controls for the interior environment are accessible on the Smart Interior Surfaces (SIS) table located at the front of the demonstrator or can be accessed via a smartphone application.

The front area is an observation space, offering comfortable, functional seating with an uninterrupted 180 degree view through the curved windshield. This zone is reminiscent of a cafe or coffee house bar, pressed up against a glass window to allow passengers to feel connected to the world around them while enjoying their journey. Features of this zone include:

  • Smart Interior Surface (SIS) Table – easily accessible on the natural wood table surface where the trip’s sequence is initiated and passengers can control the temperature, sound, UV cleaning, and navigation systems. When not in use, the table remains a beautiful, natural wood surface; 
  • UV Surface Sanitizer – UV frequency light sweeps over the interior to disinfect frequently contacted surfaces between trips;
  • Never-Forget Storage – storage spaces and bins recognize forgotten belongings, alerting passengers with a series of notifications directing them to the stored item;
  • Noveto Smart Audio – an innovation resulting from the alliance of YFAI and Noveto Systems Ltd., this technology is designed to send sound sensors, transducers and software that can locate and track the passenger’s position and deliver high-quality sound without disturbing others. Also unlike traditional directional sound technology, Noveto’s Smart Audioh technology works seamlessly within confined spaces which makes it an ideal solution for use within automobiles.
  • Visible Natural Fiber – enhancing the interior experience with environmentally-friendly, lightweight construction to create an attractive finish made from sustainable materials.

In comparison, the rear zone offers secluded comfort where passengers can retreat from the hustle and bustle of their everyday lives. The space mimics the cozy atmosphere of a booth, with a soft fabric surrounding and technology integrations designed to complement passengers’ moods and preferences.

Features of this zone include:

  • Active Space – a unique combination of in-cabin sensing developed with our partner IEE, and surface display technology to enable immersive interaction between passengers and their surrounding interior environment for entertainment, communication, and ambience;
  • Bulletin Board – seamlessly integrated display featuring ride information and notifications, providing navigation updates and alerting passengers when they are approaching their destination to prepare for arrival and gather their belongings;
  • Slim Airvent – innovative vanes and air flow control allow vents to be a fraction of their conventional surface area while still providing sufficient air flow and heating/cooling effects;
  • Active Cast Lighting – dynamic ambient lighting which mimics the play of light as it reflects and refracts in natural environments;
  • Touch-Free Access – located on the exterior of the vehicle, this touchless palm scanner confirms a passenger is correct for the ordered trip by simply requiring guests to hover their hand over the unit to be identified and to gain entry.

The mobile exhibit will tour North America throughout 2019, stopping at customer facilities, YFAI plants, and campuses across the country.

Standard & Poor’s and Moody’s affirm Investment Grade Ratings for Yanfeng Automotive Interiors at ‘BBB-’and ‘Baa3’

Corporate
Shanghai, China
19/03/2018
Standard & Poor’s and Moody’s affirm Investment Grade Ratings for Yanfeng Automotive Interiors at ‘BBB-’and ‘Baa3’

Yanfeng Global Automotive Interior Systems Co, Ltd. (YFAI) today announced that S&P Global Ratings (Standard and Poor’s) and Moody’s Investors Service (Moody’s), affirm their credit ratings of ‘BBB-’ and ‘Baa3’ both with a stable outlook. Moody’s affirmed their investment grade rating on February 8, 2018 and S&P on March 7, 2018. The ratings are subject to continuous review by both agencies.

Standard & Poor’s has affirmed YFAI’s long-term corporate rating of BBB- with a stable outlook. This is the second year that S&P has rated the company investment grade.

Moody’s Investors Service has continued to assign a Baa3 issuer rating with a stable outlook.

“We are pleased that both S&P and Moody’s affirmed their ratings of YFAI with investment grade status,” said Johannes Roters, CEO of Yanfeng Automotive Interiors. “This enables YFAI to ensure we are able to execute our strategic vision and priorities, as well as continue to develop and invest in new capabilities driving our business forward.”

“We believe these ratings are a testament to our team’s performance, efficiency and the execution of our strategy,” said Michael Kleinheksel, CFO YFAI, “All of these further underscore Yanfeng Automotive Interiors’ position as an industry leader.”

Yanfeng Automotive Interiors collaborates with Plug and Play in Silicon Valley to accelerate Technology and Business Relationships

Corporate
Sunnyvale, California
17/04/2018
Yanfeng Automotive Interiors collaborates with Plug and Play in Silicon Valley to accelerate Technology and Business Relationships

To accelerate new technologies and partnership access, Yanfeng Automotive Interiors (YFAI) recently joined the Plug and Play Mobility ecosystem. Plug and Play is the largest global innovation platform that brings together startups, investors, and corporations. They are experts in facilitating meaningful introductions, investing in startups, and bringing together key stakeholders into one world-changing network.

“Yanfeng Automotive Interiors brings a fresh perspective to our ecosystem. They redefine how drivers interact with the inside of their vehicles and by working with startups, they will be able to further impact the user experience,” said Saeed Amidi, Founder and CEO of Plug and Play. “We look forward to introducing them to new technology that supports their mission.”

As a Plug and Play ecosystem member, YFAI will engage and benefit in several ways, including proof of concept tests, pilot projects and deal flow sessions with startups.

“This is an unprecedented time in the automotive industry. We believe the interior is where the mobility revolution will have the most significant impact,” said Han Hendriks, Chief Technology Officer for Yanfeng Automotive Interiors. “Working with Plug and Play and their platform partners is critical to give us further access to disruptive technology and startups globally to accelerate the pace.”

About Plug and Play
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in 21 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 220 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs, and host more than 700 networking events per year. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, LendingClub, PayPal, SoundHound, and Zoosk. For more information, visit www.plugandplaytechcenter.com.

Yanfeng Automotive Interiors celebrates top suppliers in North America

Awards
Holland, Michigan, USA
13/03/2018
Yanfeng Automotive Interiors celebrates top suppliers in North America

Yanfeng Automotive Interiors recognized 26 of its suppliers recently during the Americas Supplier Performance Awards Ceremony at its technical center in Holland, Michigan.

The Supplier Performance Awards celebrate the company’s top suppliers for their outstanding track record in the areas of Distinguished Suppliers and Supplier Excellence under the categories of quality, cost, logistics, development, technology and service

“We are pleased to recognize our top suppliers and their teams, for their hard work and dedication,” said Jim Bos, Vice President, Global Procurement for YFAI. “Their commitment enables us to better supply our customers with products that meet and exceed expectations.”

Winners of the Distinguished Supplier honor included: A&K Finishing, Inc. of Grand Rapids, Mich.; CS Manufacturing of Cedar Springs, Mich.; Display Pack, Inc. of Cedar Springs, Mich.; Everwill Industrial Ltd of Shenzen, China; GDC, Inc. of Goshen, Ind.; JD Norman Industries of Addison, Ill.; Sunway of Novi, Mich.; Team 1 Plastics, Inc of Albion, Mich.; and US Farathane Corporation of Auburn Hills, Mich.

Supplier Excellence - Quality award honorees included:  Acoustek Nonwovens of Statesville, N.C. and MultiTech Industries of Carol Stream, Ill.

Recipients of the company’s Supplier Excellence- Service award included: Buckland Global Trade Services of Port Huron, Mich.; Clarion Technologies of Holland, Mich.; ExxonMobil Chemical Company of Spring, Texas; Total Fleet Solutions of Perrysburg, Ohio; TR Fastenings of Houston, Texas; and West Michigan Molding of Grand Haven, Mich.

Companies awarded the Supplier Excellence- Technology Excellence award included: Helcor-Leder-Tec GmbH of Hehlen, Germany and Koops, Inc. of Holland, Mich.

Supplier Excellence- Customer Satisfaction award recipients included: American Autocoat, Inc of Hudsonville, Mich.; Canadian General Tower of Cambridge, Ontario, Canada; Derby Fabricating of Louisville, Kentucky; Eagle Industries of Wixom, Mich.; Hitop Mold Industrial Co., Ltd of ChanAn Dongguan, China; Informs of Holland, Mich; and SGE of Cordova, Tenn.

Yanfeng Automotive Interiors celebrates top automotive suppliers at Supplier Performance Awards event

Awards
Novi, Mich.
17/05/2019
Yanfeng Automotive Interiors celebrates top automotive suppliers at Supplier Performance Awards event

Yanfeng Automotive Interiors, the world’s largest supplier of automotive interiors, honored 18 of its suppliers recently during the North America Supplier Performance Awards Ceremony.

“With this ceremony we’re celebrating the achievements and the value of these partnerships which enable us to serve our customers with the high-quality solutions they’ve come to know working with our teams,” said Jim Bos, vice president, global procurement, for Yanfeng Automotive Interiors.

Yanfeng Automotive Interiors, the world’s largest supplier of automotive interiors, honored 18 of its suppliers recently during the North America Supplier Performance Awards Ceremony.

“With this ceremony we’re celebrating the achievements and the value of these partnerships which enable us to serve our customers with the high-quality solutions they’ve come to know working with our teams,” said Jim Bos, vice president, global procurement, for Yanfeng Automotive Interiors.

The Supplier Performance Awards honor the company’s top suppliers for their outstanding track record in the areas of quality, cost, logistics, development, technology and service.

Supplier of the Year recipient:

  • MultiTech Industries                                           Carol Stream, Illinois

Distinguished Supplier recipients:

  • A&K Finishing, Inc.                                            Grand Rapids, Michigan
  • Acoustek Nonwovens                                        Statesville, North Carolina
  • DSSI, LLC                                                         Farmington Hills, Michigan
  • Eagle Industries, Inc.                                         Wixom, Michigan
  • GDC, Inc.                                                          Goshen, Indiana
  • Portland Products, Inc.                                      Portland, Michigan  
  • S/G Electronics, Inc.                                          Cordova, Tennessee
  • Team 1 Plastics, Inc.                                         Albion, Michigan
  • Termax Corporation                                           Lake Zurich, Illinois
  • TR Fastenings                                                   Houston, Texas

Supplier Excellence - Service recipient:

  • Vintech Industries                                              Imlay City, Michigan  

Supplier Excellence - Technology Innovation recipient:

  • Spectrum Decorative Finishes, Inc.                    Grand Rapids, Michigan

Supplier Excellence- Customer Satisfaction recipients:

  • Circle 5 International Holdings                                    Windsor, Ontario, Canada
  • CWT Global B.V.                                                        Minneapolis, Minnesota  
  • TK Group International                                               Hong Kong, China
  • Uniroyal Global Engineered Products, Inc.                Sarasota, Florida.

Supplier Excellence- Diversity recipients:

  • HJI Supply Chain Solutions                                            Louisville, Kentucky
  • Termax Corporation                                                       Lake Zurich, Illinois

 

About Yanfeng Automotive Interiors:

Yanfeng Automotive Interiors (YFAI) is the global leader in automotive interiors. Yanfeng Automotive Interiors is redefining how people relax, work and play inside their vehicle interiors – today and decades from now. Headquartered in Shanghai, the company has approximately 110 manufacturing plants and technical centers in 20 countries and more than 33,000 employees globally. They design, develop and manufacture automotive interior components for all automakers. Established in 2015, Yanfeng Automotive Interiors is a joint venture between Yanfeng, one of the largest automotive suppliers in China and Adient, the global leader in automotive seating. For additional information, please visit http://www.yfai.com.

Yanfeng Automotive Interiors Certified as one of the Top Employers in the United States for 2018

Novi, Michigan, USA
14/02/2018
Yanfeng Automotive Interiors Certified as one of the Top Employers in the United States for 2018

Yanfeng Automotive Interiors (YFAI) has been awarded the Top Employers United States of America 2018 Certification. The annual, international research undertaken by the Top Employers Institute recognizes leading employers around the world that provide excellent employee conditions, nurture and develop talent throughout all levels of the organization, and which strive to continuously optimize employment practices.

Yanfeng Automotive Interiors received this certification for its locations in the United States, which includes 17 plants, two tech centers in Michigan, and an innovation center in California.

“We are honored to be certified as a Top Employer,” said Laurie Bylsma, Executive Director, Human Resources, North America for Yanfeng Automotive Interiors. “This award underscores our commitment to our employees and to providing a desirable workplace in the US that is focused on employee engagement and development.”

“From our research, we have seen how the organizations certified as one of the Top Employers United States of America 2018 put the development of their people first and are continuously working to optimize their HR and people development practices,” David Plink, CEO of Top Employers Institute said. “Yanfeng Automotive Interiors forms part of this select group of employers. Now that they have received the Top Employers United States of America 2018 certification, they can rightfully consider themselves at the top of an exclusive group of the world’s best employers. An achievement they can truly be proud of.”

Crucial to the Top Employers Certification is the completion of a stringent research process, and meeting the required standard in order to achieve Certification. To further reinforce the validity of the process, all answers were independently audited. 

The Top Employers Institute assessed YFAI’s employee offerings on the following criteria: talent strategy, workforce planning, onboarding, learning and development, performance management, leadership development, career and succession management, compensation and benefits as well as culture.

In addition to being recognized in the United States, the company also received certification as a Top Employer in China, Germany and Slovakia. Top Employers Institute in Shanghai honored the Yanfeng Automotive Interiors locations in China the past two years.

Yanfeng Automotive Interiors reveals ‘Quality of Life’ research study and insight into global consumer behavior

Products & Technologies
Detroit, Michigan, USA
17/01/2018
Yanfeng Automotive Interiors reveals ‘Quality of Life’ research study and insight into global consumer behavior
The world leader in automotive interiors discovers perceptual shift to better understand and address future mobility needs

According to a global research study conducted by Yanfeng Automotive Interiors (YFAI), quality of life is becoming more valued over conventional definitions of success all across the globe. Quality of life is a global mega-trend monitored by YFAI’s Strategic Research team that looks at the persistent human need for peace, personal interaction, rich experiences, purpose, and good health. As a leader in the design and development of automotive interiors, YFAI is looking at the time people spend in their vehicles and how sharing, ownership, and other quality of life factors influence the use of that time.

The leading trend study is in response to the growing importance of automotive interiors as people spend more time in their cars each day. In the study, 2000 participants were surveyed online in China, Germany, and the United States to understand how consumers define quality of life in different regions, how this influences their decision-making process, and how this knowledge can lead to improved future mobility experiences. The study results reveal that eight quality of life dimensions rise to the top as key influencers. Three of them – security, physical well-being, and quality – are nearly universal across all regions. Although quality of life values change with age, emotions, connections, and relationships remain important across all age groups.

“Recognizing Quality of Life as a driver of change and innovation, it was critical for us to conduct a study around this global mega trend, as a way to deepen our knowledge and understanding of its expected impact on consumer preferences of new mobility offerings,” said Renae Pippel, Director of Strategic Research for Yanfeng Automotive Interiors.

On defining quality of life, the research reveals that the countries are more similar than they are different, although subtle differences remain. For example, Germany places more priority on experiences, while the United States and China prioritize interactions with things. The United States is unique in considering purpose and motivation as key components for quality of life. Environmental friendliness falls to the bottom in the United States, but rises to the top for both China and Germany.

Related to mobility choices, consumers perceive unique benefits to personal cars vs. alternative transport options based on how each delivers quality of life dimensions. Personal transportation solutions are valued for their speed and flexibility to travel long distances, thus providing convenience and freedom – both quality of life influencers. Vehicle sharing services are valued for their ability to circumvent driving-related stress, and are most used by Chinese consumers, followed by Americans, and then Germans. In all markets, once consumers try mobility sharing services, they tend to continue using them. Only a small percentage of respondents indicated they have tried ride or car sharing services only once.

Based on the study results and insight gained, the research team at Yanfeng Automotive Interiors concluded that a critical factor for understanding quality of life as it pertains to mobility isn’t necessarily the service selected, or even the sharing or ownership model of mobility, but rather the length of time that the passenger spends with the vehicle. In shorter interactions, those car- or ride-sharing experiences that last for 15 to 20 minutes, a certain set of priorities emerge that differ greatly from those behind ownership and the traditional multi-year car/owner relationship. In between are mid-range trips that may take a few hours to complete and have their own set of priorities and influence on quality of life.

With this new filter of minutes, hours, and years, it became evident to the team at YFAI why traditional mobility products (i.e. cars) are not ideally suited for their new-found roles as shuttles experienced for short timeframes via car- and ride-sharing services. The ability to design the right vehicles and the right interiors is not only based on understanding practical functions and features, but also on targeting and executing the right experience for a journey’s specific length of time. Knowing that a vehicle has only 20 minutes to fulfill its brand, service, or product promise to the passenger is a different proposition compared to the way that cars have been traditionally designed, developed, marketed, and sold. Yanfeng Automotive Interiors will use this valuable insight to influence and inform future product innovations in order to improve future in-car experiences, whether the vehicle is shared or owned, and whether the interaction between passenger and vehicle lasts minutes, hours, or years.

Yanfeng Automotive Interiors reveals XiM autonomous vehicle interior at the 2017 North American International Auto Show

Detroit, MI, USA
10/01/2017
Yanfeng Automotive Interiors reveals XiM autonomous vehicle interior at the 2017 North American International Auto Show
Concept showcases future interior experiences for autonomous driving

Yanfeng Automotive Interiors, the world's largest supplier of automotive interiors, unveiled its vehicle interior concept, called the Experience in Motion demonstrator 2017 (XiM17), at the 2017 North American International Auto Show (NAIAS) in Detroit. With a focus on Experience in Motion, the concept features more than 25 innovations, offering new consumer experiences for future autonomous vehicles.

"We focused the concept design to meet the future needs and expectations of consumers when it comes to the interior of the vehicle, as well as to enhance the overall autonomous driving experience," said Han Hendriks, chief technology officer, Yanfeng Automotive Interiors. "Representing our theme, Experience in Motion, the XiM17 offers leading innovations that provide flexibility in the vehicle, allowing for optimal capabilities and comfort for various situations."

The XiM17 helps answer the question, "What will people do in their vehicle, if they no longer have to drive?"

The XiM17 interior is designed to enable the use of several modes: lounge; meeting; family; and driving, enabling the autonomous vehicle to be used in various ways, by multiple people. It features a system that allows for interior flexibility to support multiple seat and floor console positions in the vehicle allowing for different ways of engaging.

Driving Mode is a traditional interior layout with all seats facing forward, allowing for a practical environment that facilitates driving and supports passenger lifestyles. Features include:

  • An overhead console – features the stop-start button and PRND selector, which frees up cabin space for vehicle occupants;
  • Invisible A-pillar – allows for greater visibility and safety;
  • Separated floor console – a front and rear floor console that can be combined, features the seamless integration of displays and control functions, powered StowSmart finger print lock, easy-table, multi-function cup holder with personal electronics management on the front floor console; a coolbox featuring a powered tambour door and a 2-way push opening drawer and self-collapsible cup holders on the rear floor console;
  • A one handed, single motion fold-out Ori-table from rear door panel armrest for working, writing or other activities; and
  • Under door panel armrest storage – the new functionality provides enhanced storage in the door panel, with an optional wireless charging plate.

Family mode interior brings people together to better engage, where the seatback of the front seats rotate inward and the rear console moves forward allowing the rear seats to come together in the center. Highlights of this mode include:

  • Combined rear seat – this feature brings the front and rear seats together and moves the rear console forward, allowing rear passengers to completely view the large display screen located in the instrument panel;
  • Swing back seats – with a 16 degree rotation of the front seatbacks, this allows the driver and passenger to better engage more comfortably with rear seat passengers;
  • A slim air vent – a slim air vent to control climate with gestural control; and
  • Cool box with powered tambour door – located in the rear console, the tambour door allows for easily accessed storage space for beverages in the console.

Meeting mode is an extension of the office. The driver seat moves to the back of the vehicle, while the passenger seat moves forward and rotates 180 degrees allowing occupants to face each other. This creates a new and unique experience of the interior space. Features of this mode include:

  • 180 degree passenger seat rotation – the rotation allows face-to-face communication in the interior;
  • Fold away rear seat – second row folds and is stored in the back of the vehicle with a clean, refined appearance;
  • Floor console with powered soft tambour door – located in the front console, the tambour door features power open/close that is optimally located from an ergonomic perspective. A fingertip lock allows the driver to lock items with their finger print; and
  • Floor console featuring easy table – two individual trays located in the floor console that can be used separately by the driver and passenger or come together to form a larger table; with a convenient one-hand operation to open or close.

Lounge mode is a transformational space helping transition from "tasking" to socializing. With the front seats moved to the rearmost position, is an environment that offers passengers the option to relax or work. This mode includes:

  • Smart Surface door panel and floor console – Smart surface that combines control/information panel with decorative trim seamlessly. The decorative surface smartly turns into the user interface when you need it. It can be configured to show personalized information and control technologies accessible in front and back based on seating position, enabling activation and control of various functions throughout the interior;
  • A large overhead screen – where the display panel acts like a sunroof, but can also show mood-changing images or act as interior task light;
  • Perforated leather lighting – an innovative solution to engage ambient lighting through a soft finish instead of a hard surface; and
  • Instrument panel storage – large storage in the center of the instrument panel with a sliding opening door for easy access. There's also another passenger drawer for additional storage organization.

An event sponsor and exhibitor, Yanfeng Automotive Interiors' 4,500 square-foot exhibit will be open to media and invited guests in 310A of Detroit's Cobo Center.

NAIAS – one of the world's premier automotive exhibitions – opens to the media and industry officials on Monday, Jan. 9. It will open to the public from Saturday, Jan. 14 through Sunday, Jan. 22. For more information, please visit: www.naias.com.

Johnson Controls and SAIC’s Yanfeng Automotive Trim Systems Co., Ltd. sign global automotive interiors joint venture agreement

Corporate
Shanghai, China
14/04/2014
Johnson Controls and SAIC’s Yanfeng Automotive Trim Systems Co., Ltd. sign global automotive interiors joint venture agreement
$8.5 billion joint venture will be world’s largest automotive interiors supplier

Johnson Controls, (NYSE: JCI), a global multi-industrial company, and Yanfeng Automotive Trim Systems Co., Ltd., a wholly owned subsidiary of Huayu Automotive Systems Co., Ltd. (HASCO), the component group of Shanghai Automotive Industry Corporation (SAIC), today announced the signing of the agreement for a global automotive interiors joint venture.

Yanfeng Press Logo

The new joint venture will be called Yanfeng Automotive Interiors, and will be the largest automotive interiors company in the world with revenues of approximately $8.5 billion with a backlog to reach $10 billion in the next few years. Yanfeng will hold the majority 70 percent share in the joint venture, and Johnson Controls will have a 30 percent share.

The companies signed a definitive agreement in May 2014 to form this joint venture, which is expected to begin operations in July 2015, subject to receipt of all regulatory approvals.

“Combining our global interiors businesses enhances our ability to serve our automotive customers throughout the world,” said Alex Molinaroli, Johnson Controls chairman and chief executive officer. “This will result in an automotive interiors company with unmatched scale, capabilities and reach.”

The new company will be headquartered in Shanghai with more than 90 manufacturing, global engineering, development and customer centers in the United States, Europe, China, Japan and India. The product portfolio will include instrument panels and cockpit systems, door panels, floor consoles and overhead consoles.

The interiors joint venture agreement is the latest in a series of recent strategic transactions taken by the company to both strengthen and rebalance its portfolio of operating businesses.

About Johnson Controls:

Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. Our 170,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and interior systems for automobiles. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. Through our growth strategies and by increasing market share we are committed to delivering value to shareholders and making our customers successful. In 2014, Corporate Responsibility Magazine recognized Johnson Controls as the #12 company in its annual “100 Best Corporate Citizens” list. For additional information, please visit http://www.johnsoncontrols.com or follow @johnsoncontrols on Twitter.

Johnson Controls and SAIC's Yanfeng Automotive Trim Systems Co., Ltd. form global joint venture for automotive interiors

Corporate
Shanghai, China
18/05/2014
Johnson Controls and SAIC's Yanfeng Automotive Trim Systems Co., Ltd. form global joint venture for automotive interiors
$7.5 billion joint venture creates largest automotive interiors supplier globally

SHANGHAI, May 18, 2014  -- Johnson Controls, (NYSE: JCI), a global multi-industrial company, and Yanfeng Automotive Trim Systems Co., Ltd., a wholly owned subsidiary of Huayu Automotive Systems Co., Ltd. (HASCO), the component group of Shanghai Automotive Industry Corporation (SAIC), today announced the signing of a definitive agreement to form a global automotive interiors joint venture.

The agreement is a noncash transaction comprised of asset contributions by the two parties that will create the largest automotive interiors company in the world with revenues of approximately $7.5 billion.  Yanfeng will hold the majority 70 percent share in the joint venture, and Johnson Controls will have a 30 percent share.

"Joining our two interiors businesses is a natural extension of our already very successful existing partnership with Yanfeng in automotive seating, which has flourished over the past 15 years. It creates a strong combined company with a market leading position and a foundation for sustained global growth," said Alex Molinaroli, Johnson Controls chairman and chief executive officer.  "This also aligns with Johnson Controls' corporate commitment to China, which is increasingly becoming a major center for the global automotive industry."

The new company will be headquartered in Shanghai with global engineering, development and customer centers in the United States, Europe, China, Japan and India. The product portfolio will include instrument panels and cockpit systems, door panels and floor consoles.

The transaction is subject to limited conditions and is expected to close in the first half of calendar year 2015.

The agreement excludes certain facilities in both Yanfeng and Johnson Controls' existing networks.  Johnson Controls will continue to operate those within its network as part of Johnson Controls' Automotive Experience business.  Johnson Controls will host an analyst call Monday, May 19 at 3 p.m. CDT. It is available via webcast in the investor section of http://www.johnsoncontrols.com/investors.
 

About Johnson Controls:

Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. Our 170,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and interior systems for automobiles. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. Through our growth strategies and disciplined focus on operational execution, we are committed to delivering value to shareholders and making our customers successful. In 2014, Corporate Responsibility Magazine recognized Johnson Controls as the #12 company in its annual "100 Best Corporate Citizens" list. For additional information, please visit http://www.johnsoncontrols.com.

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