Valeo, a French global auto parts manufacturer, on Thursday said it has chalked out a major plan for expansion in Tamil Nadu, and will be investing around ₹1,000 crore over the next five to six years.
The expansion encompasses manufacturing facilities, aftermarket operations and a global technical center, where Valeo plans to increase its talent pool by 3,000-odd employees in the Chennai region.
In an elaborate statement, the company said: “To meet the growing demand, Valeo will increase its workforce in its state-of-the-art production facilities in Tamil Nadu - both for expansion of its current product portfolio as well as new technologies. Valeo’s aftermarket operations will witness substantial growth through expanded distribution networks and service centers in Tamil Nadu. This expansion aims to provide enhanced accessibility to Valeo’s top-tier automotive products and services, catering to the needs of a wider customer base across the region.”
Jayakumar G, group president and managing director, Valeo India, said, “We have been in Tamil Nadu for over 25 years and expanded our diverse product portfolios in manufacturing. Also, in the last 15 years we have established a Global Tech Center for our R&D and software activities, which is testament to the talent available in Chennai. We further plan to expand our operations and R&D in the upcoming years.” Mr. Jayakumar thanked the government for its continued support, and heaped praise on the State’s conducive business ecosystem and proactive industrial policies.
At the Global Investors Meet 2024 (GIM 2024), Valeo’s stall in the French pavilion, in collaboration with Team France, will exhibit Four pillars of Valeo’s MoveUp Strategy, which are electrification acceleration, ADAS acceleration, lighting everywhere and interior experience reinvention. The aftermarket specialist Valeo service will display a wide range of product portfolio for the aftermarket segment.
In India, Valeo started its footprint in 1997 in Chennai for manufacturing Clutch and Friction Facing materials. With the first R&D Centre established in Chennai in 2005 for Powertrain Systems, Valeo went on to expand with Lighting Division, Thermal Systems, Wiper Division, Vision Systems Software Division and Valeo Service. Valeo is working with all mobility actors to deliver solutions for electric mobility in India.
