Business Economy

Valeo sets up R&D facility in Chennai

Global automotive technology supplier Valeo has set up a state-of-the-art R&D test lab facility at Navalur here. The facility has come up at an investment outlay of ₹250 million.

The facility will further beef up the technical competence of R&D functions of Valeo. This will provide testing and prototype services to Valeo sites across the globe. “Started in 2010, the Chennai facility has become a key contributor and our investment towards the test lab will strengthen our capabilities to enhance the value we provide to customers,” said Ashok Belani, group president and MD, Valeo India.

Valeo is present in India since 1997. It has developed a very strong Indian footprint in the last 20 years. Valeo today has seven production sites, one global R&D centre, two distribution platforms and two front offices to serve clients. Valeo employs over 4,000 people in India, of which nearly 50% are engineers.

Started in 2010 with 50 engineers at Chennai, today the R&D hub employs over 1,000 people. The division plans to increase its headcount to 5000 engineers by 2023.

Source: thehindu.com

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