French auto parts major plans to invest more than €200 million in India

French auto parts major Valeo plans to invest more than €200 million in India over the coming years and triple its India revenues to around €700 million by 2028, its Global CEO Christophe Périllat said.

French auto parts major Valeo plans to invest more than €200 million in India over the coming years and triple its India revenues to around €700 million by 2028, its Global CEO Christophe Périllat said.

“The Indian market is ready for us. It is becoming increasingly important and is currently the fastest-growing automotive market in the world, expanding at about 8% annually,” Périllat said. “It’s not just about volumes. The mix of vehicles is changing as well — more than 60% of new orders are now SUVs. The fuel mix is also evolving rapidly, with electric vehicles accounting for 4% of sales today and expected to rise to 25% by 2032.”

This structural shift, he said, plays to Valeo’s strengths, as the growing technology and electronic content in vehicles aligns closely with the company’s product portfolio

India currently contributes about 1% to Valeo’s global sales, but the company aims to raise that share to 6–7% in line with India’s share in the global automotive market.

Under its “Local for Local” policy, auto parts are manufactured locally for which Valeo has six plants across India. The power segment of its portfolio has already achieved 50% localisation. The French company’s portfolio also comprises ADAS, battery cooling plates technology, sensors, wipers, lamps as well as clutches, alternators.