Ficosa considers China's EV market a key environment for development

Ficosa, a global automotive supplier based in Barcelona, Spain, will maintain solid growth in China and invest in innovation to grab opportunities in the booming electric vehicle market, said a company executive.

"China is a strategic country for our company," said Ignasi Claret, CEO of Ficosa Asia Pacific. He has been based in one of the company's factories in Taicang, East China's Jiangsu province, for 15 years.

"Ficosa in China is an enterprise of more than 1,000 employees, with a business plan to reach 3 billion yuan ($432 million) in 2027," Claret told China Daily. The revenue contribution from China to the group will rise from 12 percent currently to 22 percent in the coming years, he added.

A major part of its business — about 55 percent — will come from technological products. This falls into the categories of advanced driver assistance systems, electromobility, such as battery charging systems, and in-cabin monitoring.

"We co-develop technological products in China to adapt our platforms to the specific needs of China's EV market," said Claret. He sees it as a challenge and an opportunity to take leadership in the Chinese EV market, which has become more competitive.

Ficosa was the first company in China to develop and produce a camera monitoring system that can replace traditional rearview mirrors.

Cars with Ficosa's CMS have been sold in Japanese and European markets, and are expected to enter the Chinese market this year once regulations are released, according to Claret.

In the in-cabin monitoring segment, the company has a set of technologies that monitor and analyze activities inside a vehicle to improve safety and comfort for occupants. It is based on an innovative integrated system of onboard sensors, including cameras and radar devices, using cutting-edge technologies and a wide range of algorithms to process sensor data.

"We are doing this through several disruptive projects that we are developing for several original equipment manufacturers in the automotive market," Claret said.

By pouring around 8 percent of revenue into research and development annually, Ficosa has been devoted to making driving safer, more efficient and using connectivity with advanced technology vision, he noted.

Chinese presence

Global partners brought Ficosa to Taicang in 2005, where the company has since witnessed "amazing changes" in the city. It has turned from "nearly nothing" to a great community, according to Claret.

"There are more than 300 international companies in Taicang and more than 25 carmakers within 200 kilometers. It's a very good place for us," he said.

Logistic services can depend on Taicang Port, the transportation between Taicang and Shanghai is also convenient — about 30 minutes by train and about one hour by car — and the local infrastructure and schools keep improving, he said.

"The local government has rendered great support to us from the beginning in different aspects, such as localization and acquisition," said Claret.

Since Ficosa was designated by local authorities as a high-tech company, it has received support from the local government to develop new technologies, he added.

The company has been integrated into the Chinese market, from co-development of designs to developing a local supply chain. Meanwhile, more than 70 percent of the employees are from Taicang.

While serving many global car companies, Ficosa has forged close partnerships with Chinese brands too, Claret said.

"Our main purpose is to add value to the automobile transformation, to our employees and to the society in general," he said.

He noted that the company is providing solutions to their partners in China to assist production for China, but it also supports their future plans of "China for Global".

"The EV market is opening the doors to Chinese OEM globalization and Ficosa wants to be part of it," Claret said.