Valeo capital to meet the ever expanding China auto dynamo
Recently Valeo announced to expand its factory in Hubei Province with newly added capital over 100 million yuan, to meet the flushing demand of China auto dynamo market.
According to the plan, Valeo will add capital over 100 million yuan to built a factory over 11,000m2 in Wuhan Economic and Technological Development Zone with 4 production lines and advanced testing equipment imported from Germany, with productivity of 300,000 units, and an additional 3 million dynamos. The project will be completed in August this year and is expected a production value of 500 million yuan.
Valeo said currently, the output of 250,000 supporting accessory and over 2 million auto dynamos in China were just far from being able to meet both the ever growing automobile production and sales of 7 million cars.
The Sino-French joint venture Dongfeng-Citroen Automobile Company located in Wuhan Economic and Technological Development Zone ever since 1995. Valeo set up Valeo auto Dynamo Company in Hubei, which becomes suppliers of Shenlong Company, Shanghai Volkswagen, Shanghai GM, FAW Volkswagen, FAW Toyota, Dongfeng Nissan and other China's major automobile manufacturers. In 2004, R&D centers invested by Valeo auto dynamo ran in operation.
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