Valeo boosts India strategy with €200M investment

French automotive parts manufacturer Valeo has announced plans to expand its sales and investment in India as part of its global growth strategy.

The company said it plans to invest more than 200 million euros in the coming years to strengthen its presence in the country. Valeo aims to triple its sales in India to around 700 million euros by 2028, News.Az reports, citing Reuters.

Valeo also confirmed it will supply electric powertrain components for vehicles under the “Born Electric” platform of Indian automaker Mahindra & Mahindra. The partnership is expected to generate orders worth nearly $1 billion.

The announcement was made alongside French President Emmanuel Macron’s visit to India, which is expected to support new business agreements for French companies.

Valeo said India is a key part of its long-term innovation and growth strategy, including expansion of engineering and manufacturing operations in the country.

News.Az 

By Aysel Mammadzada