TU-TESL

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According to foreign media reports, Faurecia is expected to achieve record sales, profits and cash revenues in 2022, mainly due to its strategic plan and the acquisition of Japanese enterprise Kolo. The parts supplier expects its annual average sales to grow by more than 5% in the period 2019-2022; its sales will exceed 20.5 billion euros in 2022. Faurecia said its operating margin would rise to 8% in 2022, compared with 7% in 2019. Affected by the news, Faurecia's shares rose 2.6% in early trading. Patrick Koller, the company's chief executive, said the company's new business group, faurec auto electronics, is a strong driver of the future cockpit and has a strong profit growth roadmap. Earlier this year, geeya announced the formal establishment of the fourth largest business unit, "faurec Auto Electronics", headquartered in Saitama County, Japan. In fact, as early as October 26, 2018, Faurecia has announced the acquisition of the project of Japan's Gele company. By March 28, 2019, Gele officially became a wholly-owned subsidiary of Faurecia Group. Koller also said the company's investment in electric vehicles will accelerate its zero emission strategy and the company will benefit from the rapid development of power assembly electrification. "By 2022, we will see record sales, profit margins and cash flows. In the long run, we are preparing for the upcoming transformation of the automotive industry, striving to achieve carbon neutrality by 2030. "