Valeo has secured an order worth more than one billion Euros from the Volkswagen Group for its new generation of Heating, Ventilation and Air Conditioning (HVAC) systems.
The new HVAC systems specified on future Volkswagen models will be produced at Valeo’s manufacturing facilities in the Czech Republic and Mexico.
In an unrelated deal, Valeo and Raytheon Company recently finalised an agreement to create Valeo Raytheon Systems, a joint venture that will develop and market new automotive systems based on advanced sensing technologies, including vehicle blind spot detection, backup assist and collision warning systems.
The company will employ jointly staffed teams, working on the design, development and marketing of new automotive radar applications. Employees will be assigned to the company from existing Valeo and Raytheon operations and be located both in Europe and North America.