French car parts maker Valeo to invest 200 mn euro
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New Delhi: French car parts maker firm Valeo on Wednesday said it plans to invest more than 200 million euros in India (Rs 2,146.18 crore) in the coming years as part of its "Elevate 2028" strategic plan to significantly expand its industrial footprint in the country. These investments will enable Valeo to triple sales in India to around 700 million euro by 2028 from 220 million euro in 2024 and prepare for the next step of high growth beyond 2028. Valeo also shared it has commissioned a new plant and dedicated e-axle production lines at its Pune facility to support a major electrification program with Mahindra & Mahindra (M&M). "Valeo has been selected to supply electric powertrains for a range of vehicles under M&M's 'Born Electric' passenger vehicle platform, along with on-board charger combo units for its electric utility vehicles.
