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Valeo Sales Jump 36% in China
Valeo SA, which operates 26 plants in China, says it plans to open seven more there within the next three years.
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Valeo SA, which operates 26 plants in China, says it plans to open seven more there within the next three years.
The French components supplier is investing 1 billion yuan ($163 million) annually in China to fuel the expansion. The company also operates 10 product development centers and three R&D facilities in China.
Last year Valeo's sales to carmakers in the country climbed 31% to $1.7 billion, contributing nearly 13% of the company's worldwide volume. Valeo China President Edouard de Pirey tells the Global Automotive Forum in Wuhan that the unit's revenue grew 36% in the first half of 2014.
Valeo describes China as the focus for its Vision 2030 business plan. Pirey says the company will focus on emission control and electronic driving aids in the country.
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