Valeo14 Apr 2023 10:37
Surely with Magna, Valeo or one of chip companies we gotta win some work?
China is Valeo's largest country with 35 sites and nearly 20,000 employees. Valeo believes in "being Chinese in China" and has strengthened its presence in the country since 1994. We are now an integral part of the local ecosystem and our 4,000 engineers are preparing the future of mobility
For almost three decades, Valeo has built trustful relationships with Chinese manufacturers and suppliers. Our four business groups and Valeo Service are active in the country and produce locally, with a local supply chain, for the Chinese market. More than 90% of our production in China is for the national automotive market, which is the largest in the world. In 2022, China represented 18% of the group’s sales. Chinese OEMs, both traditional and new, represent more than 40% of our OEM sales and 45% of our order intake in the country.
ZHOU Song, Valeo China President explains “in 2022, Valeo launched the ‘Move Up’ plan, which identified four strategic development directions that align with market trends: electrification acceleration, ADAS acceleration, interior experience reinvention and lighting everywhere. These pillars are the center of the evolution of the automotive industry in China. The first year of implementation in China has demonstrated strong results with a sales growth of 7%, overperforming the market, and an order intake representing 2.2 times our sales.“