Valeo takes a new step towards electric mobility and announces its new Valeo Power division [Yahoo! Finance]
VALEO SE S/ADR (VLEEY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
Earlier this year, Valeo announced a project to merge its thermal and powertrain activities into a single entity to better address the electrification market expectations and to further improve Valeo's competitiveness and financial performance. The Valeo Power division is created on April 22, 2024. Mobility needs power. The acceleration of electrification relies on powertrain and thermal management systems to increase the range, performance and comfort of the vehicles. The Valeo Power division will implement a lean organization structure based on 7 Regional Operations and will progressively replace the former Valeo Thermal Systems and Powertrain Systems business groups until the completion of all social and legal procedures [1] . Xavier Dupont is appointed Chief Executive Officer of the Valeo Power division and Valeo Group Executive Vice President. Christophe Périllat, Valeo CEO, explains: “Today is an important milestone in the story of Valeo with the creation of our new Valeo P
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