Covestro Assists China’s Xinquan Automotive In Going Global
- Global strategic cooperation agreement signed at China International Import Expo.
- Partnership paves the way for innovative solutions that directly enhance the automotive industry in North America, Europe, and ASEAN.
- Advancing the expansion of low-carbon, lightweight, and low-odor polyurethane solutions for interiors, alongside applications in New Energy Vehicles.
German materials manufacturer Covestro has forged a global partnership with Chinese automotive trim company Xinquan Automotive at the China International Import Expo in Shanghai. This alliance seeks to strengthen the China business and enhance international collaboration, supporting Xinquan’s expansion into North America, Europe, and ASEAN countries. The Chinese company is dedicated to innovation, aiming to establish itself as a global player in the automotive industry. Partnering with Covestro provides Xinquan access to Covestro’s wealth of expertise and extensive global network. This partnership is focused on pioneering technologies and sustainable solutions that align with the dynamic requirements of the global automotive market.
Joining forces for global automotive advancement
Covestro excels in offering a diverse array of solutions for the automotive industry. Polyurethane, invented by Otto Bayer at Covestro’s predecessor company Bayer, is the vital material for automotive interiors. Polyurethane-based automotive interior applications, such as instrument panels, door panels, and center armrests, offer a soft, tactile feel, enhancing the comfort of both drivers and passengers. Polyurethane materials are known for their lightweight properties, minimal odor, and low levels of volatile organic compounds. These attributes create a comfortable and environmentally compatible interior environment, answering key demands of the automotive industry.
Having cultivated a successful cooperation with Xinquan for ten years, Covestro possesses a deep understanding of the evolving requirements of Chinese enterprises striving to expand their global presence. Xinquan’s global expansion strategy involves localizing research, production, and sales, in the respective regions. Its plant in Mexico has already started production last year, and there are plans for a North American technical center along with new facilities in Europe and ASEAN.
Covestro is well-equipped to effectively support Xinquan’s global aspirations. With its focus on innovation and research, Covestro has established ten innovation hubs across America, Asia and Europe. Furthermore, Covestro operates production facilities in Mexico and the U.S., where they have delivered polyurethanes to Xinquan’s new plant in Mexico. The partnership exemplifies the effectiveness of globalization in driving innovation and highlights Covestro’s commitment to globalization and expanding its presence in key markets.
“Covestro thrives on dynamic global partnerships, fueling innovation and tailoring solutions for the automotive industry. Together, we power our customers’ global expansion and zero-carbon journey. At Covestro, customer centricity isn’t just a phrase – it’s our energizing force, creating unmatched value through vibrant collaborations,” said Christine Bryant, Head of the Tailored Urethanes Business Entity at Covestro.
Low-carbon polyurethane solutions for auto interiors and new energy vehicles
Expanding their technical collaboration, Covestro and Xinquan will harness Covestro’s global R&D capabilities to develop low-carbon polyurethane solutions for vehicle interiors by using partially bio-based raw materials. Besides, the cooperation extends to the development of polyurethane applications for electric vehicle battery packs. This partnership is intended to assist the automotive industry in attaining its carbon reduction objectives and embracing circular economic practices.
“During Xinquan’s global expansion, we have worked with Covestro closely to share resources and complementary advantages. By improving production efficiency and quality, reducing costs and risks, Xinquan has strengthened its core competitiveness,” said Zhihua Tang, Chairman of Xinquan. “With this new global partnership, we will jointly promote technological innovation and low-carbon applications of polyurethane materials to advance the sustainable development in the automobile industry.”
For a closer look at Covestro’s solutions for a fully circular future at the CIIE, visit us at booth 3B6-05, at the National Exhibition and Convention Center (Shanghai) from November 5 to 10, 2023.
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