Valeo, a French global auto parts manufacturer, on Thursday said it has chalked out a major plan for expansion in Tamil Nadu, and will be investing around ₹1,000 crore over the next five to six years.
The expansion encompasses manufacturing facilities, aftermarket operations and a global technical center, where Valeo plans to increase its talent pool by 3,000-odd employees in the Chennai region.
In an elaborate statement, the company said: “To meet the growing demand, Valeo will increase its workforce in its state-of-the-art production facilities in Tamil Nadu - both for expansion of its current product portfolio as well as new technologies. Valeo’s aftermarket operations will witness substantial growth through expanded distribution networks and service centers in Tamil Nadu. This expansion aims to provide enhanced accessibility to Valeo’s top-tier automotive products and services, catering to the needs of a wider customer base across the region.”
