Reflections from Patrick Koller on 12 months of milestones
One year on, it’s just the beginning of the Group’s journey to pioneering technology for mobility experiences that matter to people
A year ago, Faurecia and HELLA came together to create the world’s seventh largest automotive technology player. Today, we celebrate the Group’s first anniversary with pride and joy.
The progress we’ve made since “Day One” is outstanding: integration is never an easy process, but the Faurecia and HELLA teams have been working together closely and have identified many synergies that are already creating value.
FORVIA's strategy, presented at our first joint Capital Markets Day in November, has been welcomed by the markets. Our expanded, diversified, cutting-edge technology portfolio has brought us new high value-added contracts. The 2023 CES in Las Vegas perfectly illustrated how much stronger we are together and allowed our customers to discover our wide range of innovations in the industry's most promising areas.
Yet this year has also been marked by a complex economic, geopolitical and health environment. But our steep change in scale and scope is a powerful lever to manage risks. Together, we are better equipped to navigate uncertainty. POWER25 financial roadmap, our €1 billion divestment program by the end of the year, our focus on cash will allow us to generate growth – we are targeting more than €30 billion sales by 2025 – and ultimately make FORVIA a sustainable mobility tech leader.
Tech and sustainable: these are key words for FORVIA. In June, the renowned Science Based Targets initiative approved our 2045 Net Zero objective. This is a world first in the automotive industry, and a great source of pride for our young company. At our 2022 Sustainability Day held in Paris last November, our actions and innovations related to sustainable materials and the launch of MATERI’ACT raised interest among our customers and our ecosystem of partners. This is promising!
We want to be the game changers of our industry – as reflects our company’s mission: We pioneer technology for mobility experiences that matter to people. “That matter to people” is the key: all our products must answer the needs of end-users and remain affordable.
I heartily thank FORVIA teams for their work and determination. Their energy, performance and commitment made this first year a success!