BYD forms auto seat venture with Faurecia

Electric vehicle maker BYD has launched an automotive seat joint venture with Faurecia, one of the world’s largest automotive parts suppliers. The joint venture marks the spin-off of the seating business of BYD as it seeks to further open the supply chain. BYD holds a 30-percent stake in the Shenzhen Faurecia Automotive Parts Co Ltd while Faurecia holds the rest.