Valeo says it has become what it terms as the OEM with the largest global growth as the European economy continues to rebound.

Speaking at the Paris Motor Show, Valeo CEO, Jacques Aschenbroich, whose company posted sales of EUR12.1bn (US$15.2bn) last year, up 9%, noted the rapid advance from 2012.

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“In Europe, the situation is completely different, because market growth is greater that than of the global market,” said Aschenbroich. “In terms of production, growth in the European market is around 3%-6% [and] across the world, growth is around 2.9%.

“We have become the OEM with the largest growth in the world. We are completely in line with our guidance, which is an increase of 7% of our operating margins. There is no question or change in the guidance we have given for the whole of the year.”

Aschenbroich also outlined how Valeo had shifted from sub-contractor status to a partner OEM to customers, while focusing on its hi-tech operations.

To illustrate his point, the Valeo chief highlighted increasing discussion surrounding autonomous driving: “With regard to driverless vehicles, we are producing the ears and eyes of the vehicle,” he said.

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“We have the brains of the vehicle to allow the vehicle to interpret all the data and allow [it] to become completely autonomous.”

Valeo’s other focus includes the fields of emission reduction and fuel efficiency – the two fastest growing areas in the automotive arena according to the Valeo CEO who maintained the supplier would achieve the goal of 2L/100km for internal combustion engines.

Aschenbroich also hinted he had orders for the company’s laser scanner and supercharger technology, but noted: “A golden rule is it is customers who have to announce this, so we are under the seal of confidentiality.

“But we do have orders in our order book.”