The Detroit News. Visteon will own 70 percent of the joint venture, with the rest held by the Himeji, Japan-based maker of vehicle hoses.
Production is to start late next year.
The Munich-based company's shares rose as much as 2.1 euros to 41.8 euros. BMW's U.S. sales reached 14,494 units in September, and have climbed 16.3 percent for the year. It's better to be exposed to the luxury segment.