Valeo Group signs cooperation deal with Waigang Town

Global auto parts giant Valeo Group has signed a cooperation agreement with Jiading’s Waigang Town to build a comfort and driving assistance systems production and research and development base in the Waigang Industrial Park.

With an investment of about 2.9 billion yuan (US$404 million), the project will be articulated in two phases. It will focus on the R&D and manufacture of autonomous-driving cameras, laser radars, domain controllers, and the like. It aims for an annual output value of around 4 billion yuan.

Valeo, a global automotive supplier and technology firm specializing in smart mobility, intuitive driving, and CO2 reduction, entered the Chinese market in 1994.

Today, China stands as Valeo’s largest market worldwide in terms of both workforce and sales.