New Delhi, February 18 French automotive parts maker Valeo announced on Wednesday that it plans to invest more than €200 million in India (₹2,146.18 crore) over the next few years as part of its "Elevate 2028" strategic plan to significantly expand its industrial presence in the country.
These investments will enable Valeo to triple sales in India to approximately €700 million by 2028, up from €220 million in 2024, and prepare for further growth beyond 2028.
The group is leveraging the rapid advancement of electrification and AI technologies to meet the growing needs of Indian and global Original Equipment Manufacturers (OEMs).
The company views India as one of its top three markets globally.
Addressing a media briefing here, Valeo CEO Christophe Perillat said, "We are pleased to announce that our sales will triple in the next three years, from €20 million to over €700 million by 2028. We will also be announcing a significant investment in India. We plan to invest more than €200 million in the coming years to prepare for this growth."
The Valeo CEO shared that the €200 million investment in India will primarily be in the "power and brain" segments, where "power" refers to electrification technologies, including the motor, inverter, charger, converter, as well as the cooling part, including the heat pump and battery cooling.
The investment will also be directed towards "brain" technology, which refers to advanced driver-assistance systems, the Valeo CEO said.
Valeo has been operating in India since 1997. The group has six production sites in Chennai, Pune, Sanand, and Gurgaon, and global R&D centers in Chennai and Bengaluru.
Valeo employs over 7,500 people in India, with over 50 per cent of them being engineers contributing to global research, development, and manufacturing activities.
