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Valeo has officially launched its Valeo Power division, marking a significant stride in its journey towards enhanced electric mobility. This new division merges the company’s existing thermal and powertrain operations to better meet the growing market demands for electrification and to boost Valeo’s competitive edge and financial health. The announcement was made on April 22, 2024, as the company continues to adapt its business structure to the evolving needs of the mobility sector.
Key Highlights:
- New Division Formation: The Valeo Power division, established to unify Valeo’s thermal and powertrain activities, aims to intensify efforts in vehicle electrification.
- Leadership Appointment: Xavier Dupont has been named Chief Executive Officer of the Valeo Power division and Executive Vice President of the Valeo Group.
- Strategic Goals: According to Valeo CEO Christophe Périllat, the new division will focus on delivering high-performance, cost-effective technologies to its customers, contributing significantly to the company’s competitiveness and financial outcomes.
Christophe Périllat, CEO of Valeo, remarked on the development, stating, “Today is an important milestone in the story of Valeo with the creation of our new Valeo Power division, born from the merger of our former Powertrain Systems and Thermal Systems Business Groups. As we further accelerate in electrification, our Valeo Power division will enable us to offer our customers technologies tailored to market expectations in terms of performance and cost. The new division will also contribute to our efforts to improve our competitiveness and financial performance.”
In addition to the Valeo Power division, the company has rebranded its other divisions to better represent their evolved focus areas:
- Valeo Brain Division: Formerly the Valeo Comfort and Driving Assistance business group, it now emphasizes software and computing capabilities essential for advanced driving assistance systems (ADAS).
- Valeo Light Division: Previously known as Valeo Visibility, this division highlights the critical role of lighting in safe and innovative mobility solutions.
Organizational Structure Update: Valeo’s reshaped structure now revolves around these three divisions, which will form the new financial reporting segments from the 2024 half-year results onward.
The restructuring also includes the continuation of the Valeo Service activity, with Eric Schuler stepping in as its new Chief Executive Officer. This move ensures that Valeo maintains robust support and services parallel to its product divisions, reinforcing its overall market position in the rapidly changing automotive industry.
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