Faurecia Maps Out New Targets, EV Future After Hella Deal (1)

Faurecia SA set out a series of financial targets after taking control of German rival Hella Gmbh & Co. as the combined company seeks to bolster its offerings supplying electric vehicles.

The manufacturer targets an operating margin above 8.5% on sales of more than 33 billion euros ($38 billion) by mid-decade, according to a statement Monday. The group -- which will call itself Forvia -- seeks to halve its exposure to combustion-engine products to about 10% by that time.

France’s Faurecia agreed to take over Hella last year to boost its standing with German automakers including Volkswagen AG and BMW ...