Valeo to create 50 jobs in Galway with €44m investment in autonomous vehicle R&D
Automotive supplier Valeo is to invest €44m in a research, development and innovation programme, creating 50 jobs in Tuam, Co Galway.
The investment will build on the group’s capability in Advanced Driver Assistance Systems (ADAS).
Over the next three years 50 jobs will be created, which will see Valeo’s Irish R&D centre grow to over 500 people.
Marc Vrecko, Valeo comfort and driving assistance systems business group president, said: “We are very excited about the announcement today to further expand our footprint here to build on the proven innovation in product and process R&D.”
“The investment will help fuel the global growth of the vision product line and extend Valeo as global leader for ADAS systems and related MaaS products.”
The project is supported by the Irish Government through IDA Ireland.
IDA Ireland CEO Martin Shanahan said: “This is an exciting project, focused on new emerging and disruptive advances in Autonomous Vehicles. This project will add significant value to the company’s operations in Tuam and will benefit Tuam, Galway and the West region substantially.”
Last year Valeo generated sales of €19.3bn and invested 13pc of its original equipment sales in research and development.
At December 31, 2018, Paris-listed Valeo had 186 plants, 21 research centers, 38 development centers and 15 distribution platforms, and employed 113,600 people in 33 countries worldwide.