The joint venture is expected to reach a total production volume of 400,000 car sets by 2020. "As part of our expansion strategy — particularly in China, but also in Europe — we are delighted to participate in the revival of the renowned automotive brand Borgward. Our extensive experience with premium and SUV seats was the main reason for the establishment of this new joint venture in China" said Patrick Koller, CEO of Faurecia, at the signing of the joint venture agreement. "We are proud to intensify our cooperation with Faurecia, one of the world's most successful and innovative automotive suppliers" said Ulrich Walker, CEO of Borgward Group AG. From January 2017, the joint venture will develop and manufacture seats for the new Borgward BX5 SUV and other models assembled in China, and later on intends to supply seats to Borgward for its vehicles to be assembled in Europe.