Palantir and Faurecia Embark on Long-Term Strategic Partnership
March 11 2021 - 06:59AM
Business Wire
Palantir Technologies Inc. (NYSE:PLTR) announced today it has
entered into a six-year strategic partnership with Faurecia, one of
the world’s leading automotive technology companies, to accelerate
its digital transformation and ambition to be CO2 neutral.
Palantir Foundry was designed to help organizations integrate
disparate data sources and make the best possible use of their
data. Faurecia will use Palantir's Foundry software to gain further
insight into its data across the company, from manufacturing to
purchasing, from engineering to finances.
Built on top of Faurecia’s IT portfolio and contracted cloud
services, Palantir Foundry will allow Faurecia to reduce raw
material consumption, improve R&D competitiveness, secure
purchasing excellence and track and measure overall CO2 neutrality
efforts. The applications built on the data platform will
contribute to generate digital twins, thus also enabling Faurecia’s
capabilities to proactively simulate variability.
“The partnership with Palantir will trigger a major new step in
our digital transformation, allowing to robustly scale our
digitalization actions. Developing and strengthening our
large-scale data capture and analysis will further increase
agility, enhance the use of artificial intelligence and increase
decision support and automation in Faurecia,” said Grégoire
Ferré, Cockpit of the Future and Digital Services Factory Senior
Vice President.
“The range of uses for Foundry across Faurecia shows the breadth
of practical applications for our software in the manufacturing and
automotive sectors,” said Palantir COO Shyam Sankar. “We are
proud to partner with Faurecia in its mission to improve the
efficiency of its products as well as its environmental
footprint.”
In 2017, Faurecia started its digital transformation to boost
its competitiveness and generate leading-edge performance in
manufacturing and support functions. Digital quality and data
analysis, smart automation, and manufacturing and execution systems
are currently deployed at around 200 sites. To accelerate
Faurecia’s digital transformation, the Group created the Digital
Services Factory, which is developing AI systems and deploying
industrial solutions progressively across sites and different
functions using an Internet of Things (IoT) approach.
The partnership marks Palantir’s first engagement with a
France-based automotive supplier and an expansion of its long
history of work in the automotive sector and the manufacturing
industry.
About Palantir Technologies
Palantir Technologies is a software company that builds
enterprise data platforms for use by organizations with complex and
sensitive data environments. From building safer cars and planes,
to discovering new drugs and combating terrorism, Palantir helps
customers across the public, private, and nonprofit sectors
transform the way they use their data. Additional information is
available at https://www.palantir.com.
About Faurecia
Founded in 1997, Faurecia has grown to become a major player in
the global automotive industry. With 266 industrial sites, 39
R&D centers and 114,000 employees in 35 countries, Faurecia is
a global leader in its four areas of business: Seating, Interiors,
Clarion Electronics and Clean Mobility. Faurecia has focused its
technology strategy on providing solutions for the “Cockpit of the
Future” and “Sustainable Mobility”. In 2020, the Group posted sales
of €14.7 billion. Faurecia is listed on the Euronext Paris stock
exchange. For more information, please visit www.faurecia.com
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements may relate to, but are not limited to,
Palantir’s expectations regarding the amount and the terms of the
contract and the expected benefits of our software platforms.
Forward-looking statements are inherently subject to risks and
uncertainties, some of which cannot be predicted or quantified.
Forward-looking statements are based on information available at
the time those statements are made and were based on current
expectations as well as the beliefs and assumptions of management
as of that time with respect to future events. These statements are
subject to risks and uncertainties, many of which involve factors
or circumstances that are beyond our control. These risks and
uncertainties include our ability to meet the unique needs of our
customer; the failure of our platforms to satisfy our customer or
perform as desired; the frequency or severity of any software and
implementation errors; our platforms’ reliability; and our
customer’s ability to modify or terminate the contract. Additional
information regarding these and other risks and uncertainties is
included in the filings we make with the Securities and Exchange
Commission from time to time. Except as required by law, we do not
undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future developments, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210311005176/en/
Lisa Gordon media@palantir.com
Palantir Technologies (NYSE:PLTR)
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