Valeo announces new business unit Valeo Power
Earlier this year, Valeo announced a project to merge its thermal and powertrain activities into a single unit to better meet the expectations of the electrification market and further improve Valeo's competitiveness and financial performance.
Mobility Needs Power
The Valeo Power business unit was founded on Tuesday. The acceleration of electrification relies on powertrain and thermal management systems to increase the range, performance, and comfort of vehicles. Therefore, the Valeo Power business unit will introduce a lean organizational structure based on 7 Regional Operations and will gradually replace the previous business units Valeo Thermal Systems and Powertrain Systems until all social and legal procedures are completed. During this transition period, the current organization by product groups/regional operations will coexist with the future organization by regional operations.
New Business Unit, New Opportunities
Xavier Dupont is appointed Chief Executive Officer of the Valeo Power business unit and Executive Vice President of the Valeo Group.
"Today is an important milestone in the history of Valeo with the creation of our new Valeo Power business unit, which has emerged from the merger of our former Powertrain Systems and Thermal Systems business units. As we continue to drive electrification forward, our Valeo Power business unit will enable us to offer our customers technologies tailored to market expectations in terms of performance and cost. The new business unit will also help improve our competitiveness and financial performance," explained Christophe Périllat, CEO of Valeo.
Update: Valeo Comfort and Driving Assistance becomes Valeo Brain
At the same time, Valeo is updating the names of its two other business units to reflect the evolution of their activities:
The Valeo Comfort and Driving Assistance business unit becomes the Valeo Brain business unit. Mobility is evolving towards the Software Defined Vehicle, accelerating advanced driver assistance systems (ADAS) and the new possibilities they offer for in-car experiences. They all rely on software and powerful computing units that act as the “brains” of the vehicles. Marc Vrecko is appointed Chief Executive Officer of the Valeo Brain business unit and Executive Vice President of the Valeo Group
Valeo Visibility business unit to Valeo Light
Safe mobility relies on light to see and be seen. The light must reach the driver or sensors without distortion thanks to wiper and sensor cleaning systems. Advances in mobility support the acceleration of lighting everywhere, as electric and advanced vehicles offer new possibilities in terms of light design, functionality, and personalization. Maurizio Martinelli is appointed Chief Executive Officer of the Valeo Light business unit and Executive Vice President of the Valeo Group. Valeo Aftermarket activities remain Valeo Service activities with Eric Schuler appointed Chief Executive Officer of Valeo Service Activity.
The new operational structure of Valeo is now organized around these three business units, which will become the Group’s financial reporting segments from the half-year results of 2024.
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