Valeo aims for ‘virtuous circle’
Multinational automotive aftermarket supplier Valeo says it is looking to new advances in technology to drive revenues. CEO Jacques Aschenbroich explained: “By leveraging the growth opportunities in the automotive industry for electrification, autonomous and connected vehicles, as well as new mobility services driven by digital technology, Valeo is embarking on a virtuous circle of profitable growth.”
The company is also keen to move further into Asia, where it says 37% of OE sales will be generated by 2021, compared with 27% in 2016. Valeo has recently strengthened its position in Japan, in a deal which saw it take control of the country’s leading automotive lighting company, Ichikoh. “Valeo is strengthening its relationship with Japanese customers and continuing to expand in Asia – particularly in Japan and south-east Asia – which will account for nearly a third of group sales,” Aschenbroich added.
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