Valeo has said it aims to double revenue in China every four years as it targets a larger share of the world’s largest new vehicle market.
Group CEO Jacques Aschenbroich made the comments at the opening of a new factory in Shanghai.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Aschenbroich said China’s share of group sales increased from 8% in 2011 to 13% in 2013. He added that last year’s revenue growth of 30% in China far outpaced the 15% growth in the country’s overall vehicle production.
With China accounting for 24% of new order intake last year, this market is set to become Valeo’s largest source of revenue by 2016.
