Valeo acquires Siemens’ stake in Valeo Siemens eAutomotive. That’s the end of a joint venture
Back in February, this year, Valeo and Siemens had announced the intention to deeply change the company structure. Now, les jeux sent faites, as French would say, and Valeo holds 100% of Valeo Siemens eAutomotive.
Valeo acquires Siemens’ 50% stake in Valeo Siemens eAutomotive, the joint venture created in view of the will to strengthen electrification business in the automotive sector. Back in February, this year, Valeo and Siemens had announced the intention to deeply change the company structure. Now, les jeux sent faites, as French would say, and Valeo holds 100% of Valeo Siemens eAutomotive.
Valeo and Siemens to part ways
“Valeo is accelerating in electrification, as announced at the presentation of our Move Up plan”, declared Christophe Périllat, Valeo’s Chief Executive Officer. “Thanks to this transaction, Valeo has positioned itself better than ever before as a leader in electric mobility, with a unique advantage in this fast-accelerating market and with a range of technologies that covers absolutely all needs and uses. This integration makes us even more innovative and competitive. We will benefit from the unique expertise in high-voltage electrification developed by Valeo Siemens eAutomotive’s teams. In return, the business will benefit from Valeo’s unique ability to innovate and standardize cutting-edge technologies as well as from our operational excellence in mass production. I would like to thank Siemens for their valuable partnership over the past few years”.
Proving its momentum, Valeo Siemens eAutomotive announced in early June that it had already exceeded its target of more than 4 billion euros in orders for the 2021–2022 period, more than seven months ahead of its roadmap.
With Valeo Siemens eAutomotive, Valeo is bringing on board a recognized technological and industrial leadership with approximately 4,000 employees, including more than 1,600 engineers, 7 production sites in 4 countries (China, Germany, Hungary and Poland) as well as cutting-edge R&D (laboratories, test benches, simulation tools) and production capacities.
