Valeo will support Paris’ EUR8bn (US$8.8bn) automotive recovery plan by locating new technologies such as 48V in France.
With a focus on the transition towards greener mobility, the plan combines measures to encourage supply and demand and leverages industrial and innovative resources available on the French market.
“France represents an industrial export base for Valeo and is at the heart of our global technology activities,” said Valeo chairman & CEO, Jacques Aschenbroich.
“The recovery plan highlights our strategic positioning as the world leader in mobility electrification and driving assistance, as well as a key industrial player in France with a solid local footprint.
“Valeo will support the automotive recovery plan by locating new technologies like 48V in France”.
Valeo has 15,500 employees in France across 23 plants and 14 R&D centres. The supplier has located plants in several of its businesses in France, including electric powertrains, power electronics, thermal management (battery cooling and cabin air conditioning) and lighting. Some 76% of production from its French plants is for export.
Valeo will strengthen its position in France, notably by increasing the number of production lines for 48V electric motors located in the country.
Through the recovery plan, Valeo will secure the transition of its major manufacturing facilities in France – such as Etaples (Hauts de France), Isle d’Abeau (Rhône-Alpes), Sainte-Florine (Auvergne Rhône-Alpes) and Sablé-sur-Sarthe (Sarthe) – by creating new jobs and supporting the local economy.
Valeo maintains it accounts for 15% of annual R&D expenditure in the French automotive industry and employs more than 4,000 people in R&D in France, up 50% since 2011.
By creating an innovation fund with an annual budget of EUR150m, the French government will enable Valeo to develop future technologies in France notes the supplier.
It added this would enhance its local footprint in areas such as vehicle electrification, power electronics, thermal battery management, artificial intelligence and data fusion, the development of autonomous and connected vehicles and active lighting.
