Valeo Plans 'Move Up' in India

The company has lined up an investment of Rs 1,500 crore in India to accelerate its business in the country. Of this amount, 35 percent is allocated for the electrification space. Ketan Thakkar reports.

- Ketan Thakkar

As the electric vehicle (EV) adoption gathers momentum and prospective buyers move towards more premium vehicles, the Indian subsidiary of Euro 20 billion French auto component major Valeo is expecting to double its turnover in the country to Euro 800 million and quadruple its clean energy business in the next five years.

Valeo is making a swift transition towards the global strategic plan of Move Up. A programme that lays a strong emphasis on disruptions of autonomous, connected and electric vehicles. Christophe Périllat, the company’s global CEO defined four key pillars for future growth — Electrification, ADAS, reinvention of interior experience, and lighting.

Valeo India is well aligned to the global vision and is developing expertise and technologies to be at the forefront of the transformation in mobility. India is a key hub for testing, validation and global development for the company. Jayakumar G, President and MD, Valeo India told Autocar Professional, that the company has lined up an investment of Euro 150 million or Rs 1,500 crore in India over the next three to four years to participate in these emerging opportunities and accelerate its business in the country. Out of this, 35 percent of the capex is allocated for the electrification space.

Much like the global pillars, Jayakumar says the focus is to accelerate expansion into electrification and ADAS and the market is quickly shifting to these new age disruptions.

In Pune, Chakan, Valeo is expanding its facility for EVs and in Sanand, the company is putting in the second manufacturing line. While the avenues of EVs and ADAS will continue to outpace the market, Jayakumar says the current core business of clutches, HVAC and lighting are also growing at a market rate if not faster.