Palantir (PLTR) enters six-year strategic partnership with Faurecia
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.