BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Valeo (VLOF.PA, VLEEF.PK, VLEEY.PK) said it plans to invest more than 200 million euros in the coming years, to significantly expand its industrial footprint in India. The company believes the investments will enable Valeo as a first step to triple its sales in India to around 700 million euros by 2028, and second to prepare for the next step of high growth beyond 2028.
Christophe Périllat, CEO of Valeo, said: 'As India and France deepen their strategic partnership, Valeo continues investments in localization, R&D, and advanced manufacturing to support India's ambition to become a global hub for next-generation automotive technologies.'
Shares of Valeo are currently trading at 13.03 euros, down 0.11%.
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