Valeo allocates US$396m to intelligent driving R&D
Print Edition
Valeo Group, a French auto supplier, has made substantial progress in constructing its Comfort and Driving Assistance Systems Manufacturing and R&D Base in Jiading’s Waigang Town.
With an investment of about 2.9 billion yuan (US$396 million), the base will focus on the R&D and manufacturing of intelligent driving cameras, laser radars, domain controllers and chip-binding equipment.
Covering a site area of roughly 30,000 square meters, the project will be developed in two phases with construction space totaling 58,596 square meters.
Main structure for Phase I is expected to be completed by mid-year. The subsequent building work will concentrate on exterior painting, interior decoration and supporting infrastructure, such as internal roadways, greening and fire safety.
“The new plant marks an important milestone for the development of Valeo’s Intelligent Transportation Systems Division in China, reflecting the company’s commitment to strengthening its presence in the East China market and leading innovation in its products,” said Xu Kelin, general manager of Valeo Intelligent Transportation Systems, Shanghai.
“The project integrates R&D and manufacturing functions, enabling us to respond more quickly to customer needs and facilitate the intellectualization of China’s automotive industry.”
Jiading’s district and town administrations optimized the business environment and expedited the approval procedure, offering complete project assistance and services.
Xu said that the group will ensure the project is completed and operational as soon as feasible, hence boosting the region’s economic growth.
Valeo entered the Chinese market in 1994 and set up its headquarters in Shanghai in 2013.
The company started to make contributions to China’s automotive industry three decades ago, and Chinese technology is now an important force in its global markets.
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