The deal has been estimated at around JPY80 billion (US$710 million) and would make Faurecia the majority owner of Clarion. Japan’s Hitachi, which owns a 63.6% stake in Clarion, is said to be considering various options but has not yet decided. Parick Koller, CEO, Faurecia, said the acquisition would position the French supplier “as a leading player for cockpit systems integration, able to offer unique user experiences.” Faurecia, Clarion and Hitachi would form a business alliance aimed at developing autonomous driving products.

Sources: Reuters/AutomotiveIT