October 25, 2018 / 7:03 AM / 20 days ago

Faurecia to buy Hitachi car navigation unit Clarion -Nikkei

TOKYO, Oct 25 (Reuters) - French car parts maker Faurecia SA is set to buy a majority stake in Japanese car navigation system maker Clarion Co from Hitachi Ltd for around 80 billion yen ($710 million), the Nikkei reported on Thursday.

Hitachi owned around 63.6 percent of Clarion shares as of end-March.

The report comes amid a flurry of deals among car components makers, which are trying to keep up with a shift by car makers into new technologies such as autonomous driving, connected cars and electric vehicles. ($1 = 112.1600 yen) (Reporting by Ritsuko Ando Editing by Chang-Ran Kim)

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