French car parts maker Valeo unveils plans to increase sales in India

French car parts maker Valeo unveiled plans to increase its sales in India, with its new initiatives announced alongside President Emmanuel Macron's trip to India this ‌week which ⁠is ⁠expected to yield new deals for French companies.

Valeo said it would be investing more than 200 million euros ($236.7 million) in the coming years to expand its presence in India ⁠and that ‌these new investments were aimed at tripling Valeo's sales in ⁠India to around 700 million euros by 2028.

Valeo added it had been selected to supply electric powertrains for a range of vehicles under the 'Born Electric' passenger vehicle platform of Indian company Mahindra & Mahindra and ‌that this strategic partnership had a total order value of close to $1 billion.


"India ⁠is a key pillar of Valeo's global growth and innovation roadmap, and we are committed to significantly expanding our engineering centers and industrial footprint," said Valeo CEO Christophe Perillat in a statement.