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Valeo Invests Heavily in India, Tripling Sales Goal
18 Feb
Summary
- Valeo plans over 200 million euros investment in India.
- The company aims to triple India sales to 700 million euros by 2028.
- Valeo secures nearly $1 billion order for electric powertrains from Mahindra.
Valeo, a French automotive supplier, has unveiled substantial plans to bolster its operations in India, coinciding with French President Emmanuel Macron's visit. The company intends to invest more than 200 million euros in the coming years to expand its footprint.
These investments are strategically aimed at tripling Valeo's sales in India, targeting approximately 700 million euros by the year 2028. A significant part of this expansion includes a new partnership with Indian manufacturer Mahindra & Mahindra.
Under this collaboration, Valeo will supply electric powertrains for Mahindra's 'Born Electric' passenger vehicle platform. This strategic alliance carries a total order value close to $1 billion, highlighting the growing importance of electric mobility in India.
Valeo's CEO, Christophe Perillat, emphasized India's role as a key pillar in the company's global growth and innovation roadmap. He affirmed Valeo's commitment to expanding its engineering centers and industrial presence within the country.
