Valeo and Raytheon have finalised an agreement to create Valeo Raytheon Systems. The joint venture will develop and market new automotive systems based on advanced sensing technologies, including vehicle blind spot detection, backup assist and collision warning systems.
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Valeo says the company will employ jointly staffed teams, working on the design, development and marketing of new automotive radar applications. They will be assigned to the company from existing Valeo and Raytheon operations and be located both in Europe and North America.
“I am delighted that the agreement has been finalised to establish this new partnership. It is a further significant step towards achieving our strategy of technology leadership in each of our five Domains. The partnership will draw upon a complementary range of leading edge technologies from the aerospace and automotive industries that will accelerate market introduction. Valeo is the world leader in Ultrasonic Park Assist systems. Using Raytheon’s innovative technologies, the new company is well positioned to create exciting new detection systems that will add value for vehicle manufacturers and consumers alike,” said Thierry Morin, Chairman of Valeo’s Management Board.
The first product of the JV will be a Blind Spot Detection system.
