Valeo will hold 100 percent of Valeo Siemens eAutomotive after Siemens sold its stake in the company for 277 million euros, Valeo said.
“The electrification of automotive mobility is accelerating. And so is Valeo,” said Christophe Périllat, Valeo’s Chief Executive Officer. “This transaction and the integration of Valeo Siemens eAutomotive within our Powertrain Systems Business Group strengthen our position as a major player in electrification by creating a champion equipped with all the associated technologies. It also makes us more innovative, competitive and profitable as we play our part in decarbonizing mobility. I would like to thank Siemens for all the work that we have achieved together over the past few years, positioning Valeo Siemens eAutomotive as a champion of high-voltage electrification.”
After July 1, 2022, 100 percent of Valeo Siemens eAutomotive will be integrated within Valeo’s Powertrain Systems Business Group, Valeo said in a statement.
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