Commercial Vehicle Group today announced new customer and product wins in the attractive China market in its Global Seating segment.
CVG was awarded the next generation heavy duty truck platform utilizing its World Platform (“WP”) seat solution for Dayun, a leading heavy- and medium-duty truck manufacturer in China. CVG Shanghai expects delivery to Dayun to begin in the second half of 2019 ramping up production into 2020. In addition, the Company announced that it will be supplying long-term customer, Foton-Daimler, a newly engineered heat and ventilation seat system for their new high-end truck platform. CVG has been a long term supplier to Foton-Daimler, supplying them truck seats on other heavy-duty truck platforms. CVG believes these opportunities combined will provide approximately $7 million to $10 million in annual revenue once fully ramped.
Patrick Miller, President and Chief Executive Officer, stated, “Our increasing traction in the growing Asia Pacific region is a testament to our team’s dedication and execution on our strategic priorities and demonstrates our product innovation and quality. Our collaboration with Dayun further positions CVG Shanghai as a supplier of choice based on our high-quality product portfolio and in-region design and development expertise. With our new supply agreement with Foton, we are introducing our integrated heat and ventilation solution to the China market for the first time. There is a growing interest in truck seat comfort and functionality in this region, and we are well positioned to help customers upgrade to higher-quality seats with greater functionality and sustainable performance.”
The WP seat features an integrated belt design with a full range of features and adjustments including memory settings and heat/vent. The seat meets European safety requirements for both medium- and heavy-duty trucks and buses. As heavy- and medium-duty manufacturers in China have moved to benchmarking popular European platforms, the highest-end truck market in the world, those same features are increasingly being integrated into offerings in China. CVG works closely with the local engineers of its OEM customers to develop the right solution that meets specifications and is cost appropriate. The WP product was launched in China in July 2014. Although most units are produced for leading OEMs in-country, the product is exported to Europe and Australia.
SOURCE: CVG
