Valeo to invest €200 million in India under Elevate 2028 plan

Valeo has announced plans to invest more than €200 million in India under its global Elevate 2028 roadmap, with the capital to be deployed over the next three years as it scales up its electrification and advanced driver assistance systems portfolio.

The French supplier is targeting a jump in India revenues from roughly €220 million currently to €700 million by 2028, with a longer-term ambition of crossing €1 billion beyond that period.

“We are absolutely determined to grow in India,” said Christophe Périllat, CEO, Valeo, underscoring the company’s confidence in the country’s accelerating technology shift.

Electrification at the core

A large share of the €200 million investment will flow into Valeo’s Power division, which houses its electrification technologies including electric motors, inverters, on-board chargers, DC-DC converters and battery cooling systems.

With EV penetration in India currently at around 4 percent and projected to rise sharply over the next decade, Valeo expects electrified vehicles including hybrids to account for about 25 percent of the market by 2032.

Around 25 percent of Valeo India’s Power division revenue already comes from electrified products. Localisation levels in electrification stand at about 50 percent, compared with 80 to 90 percent in legacy ICE products.

The company is expanding capacity at its Pune and Chennai plants and deepening domestic sourcing as volumes build.

ADAS localisation gains momentum

The second key thrust area is Valeo’s Brain division, focused on ADAS technologies such as parking sensors, cameras and radar.

India’s tightening safety regulations and rising SUV penetration, now above 60 percent of new orders, are driving higher demand for advanced safety systems. Valeo has installed electronic parking sensor lines locally and is industrialising camera production, with manufacturing expected to begin in 2026. Radar localisation is planned as market readiness improves.

The company expects regulatory changes around 2028, including features such as automatic emergency braking and lane departure warning systems, to further accelerate ADAS adoption.

Local-for-local manufacturing

Valeo operates six production sites in India across Pune, Chennai and Sanand, supported by a major R&D centre in Chennai. The company employs over 7,000 people in the country, including more than 3,000 engineers and over 1,000 software specialists.

Reaffirming its local-for-local strategy, Valeo said it aims to manufacture in India everything it sells in India, working with more than 200 Indian suppliers.

Expanding beyond passenger cars

Beyond passenger vehicles, Valeo is also expanding its footprint in two-wheelers. The company has partnered with Hero to introduce advanced rider assistance systems, adapting its ADAS technologies to enhance motorcycle safety.

Currently, India contributes around 1 percent to Valeo’s global revenue. Under Elevate 2028, the company intends to significantly raise that share, aligning with the country’s growing role in global automotive production and its increasing technology content per vehicle.