Valeo to acquire the remaining 50% stake in Valeo Siemens eAutomotive from Siemens for $317m.

Valeo, a French global automotive supplier, agreed to acquire the remaining 50% stake in Valeo Siemens eAutomotive, a vehicle component manufacturing joint venture, from Siemens, a German multinational conglomerate, for $317m. "The electrification of automotive mobility is accelerating. And so is Valeo. This transaction and the integration of Valeo Siemens eAutomotive within our Powertrain Systems Business Group strengthen our position as a major player in electrification by creating a champion equipped with all the associated technologies. It also makes us more innovative, competitive and profitable as we play our part in decarbonizing mobility. I would like to thank Siemens for all the work that we have achieved together over the past few years, positioning Valeo Siemens eAutomotive as a champion of high-voltage electrification," Christophe Périllat, Valeo CEO.