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Valeo Opens First R&D Center in Wuhan
(chinadaily.com.cn)
Updated: 2004-06-22 08:49
Valeo, a European automotive supplier, unveiled at Auto China 2004 in Beijing on June 9 for the first time in the country state-of-the-art automotive technologies designed to improve safety, fuel consumption and comfort for Chinese motorists.
Valeo's award-winning technologies on display during Auto China 2004 reflect the Group's three Domains of innovation - Driving Assistance, Powertrain Efficiency and Comfort Enhancement.
These technologies are designed to improve safety, comfort and fuel consumption for the driver whilst providing world-leading Quality and cost-competitiveness.
Valeo will undertake a series of projects to strengthen its China presence, including opening an R&D center in Wuhan, launching its 5 Axes School in Shanghai and introducing new product lines to better service the country's automotive market.
Valeo has grown rapidly in China since it entered the market in 1994. In 2003 Valeo increased its shareholding in three joint ventures - Hubei Valeo Automotive Lighting Co.Ltd to 75%, Valeo Shanghai Automotive Electrical Motors & Wiper Systems Co. Ltd. to 55% and in Shanghai Valeo Automotive Electrical Systems Co. Ltd to 50%.
Through its eight production facilities, sales in the region have grown by around 30 percent annually and are expected to almost double in the next two years to reach up to ?600 million. The Group plans to introduce all its product lines into China in 2004.
The Group's first technical center in China, which will open this year, will develop advanced automotive lighting systems for both Chinese and European car makers, and is expected to employ over 40 people by the end of 2004. The center will work with other technical facilities around the world on joint projects for all markets.
To further enhance the competitiveness of its Chinese facilities, Valeo will begin training its local workforce in its proprietary 5 Axes Methodology. A special 5 Axes School, specifically designed to train all Chinese employees of Valeo in the total quality culture and methodology of the Group, is scheduled to open in September following intensive training of five instructors, the majority of whom have been selected from the Group's Chinese operations.
Valeo's Asia Purchasing Office, opened in Shanghai in 2001, expects to triple its sourcing from the current ?300 million to ?1 billion in three years. The Purchasing Office is a key resource for all Valeo Branches throughout the world and contributes to Valeo's objective to source 70% of its purchases in cost competitive countries by 2010.
China's automotive aftermarket offers significant opportunities. By 2010, China's passenger vehicle volume is expected to reach 20 million vehicles.
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