Valeo today announced it is to invest €44m in a major RD&I investment programme, which will build on the Group’s capability in Advanced Driver Assistance Systems (ADAS) with the aim of positioning the company at the forefront of developments in autonomous vehicles.
This investment will lead to the creation of 50 new R&D roles over the next three years, which will see its Irish R&D centre grow to over 500 people and become one of the largest R&D facilities in Ireland.
Speaking about the investment, Minister of State for Rural Affairs & Natural Resources, Sean Canney said, "Valeo is a substantial and valued employer in Tuam and indeed Galway and the West region and this announcement that VVS is to make a major investment in an RD&I programme is great news, demonstrating significant commitment by the company to the Tuam site as it positions itself at the leading edge of the development of autonomous vehicles."
Valeo Comfort and Driving Assistance Systems Business Group President, Marc Vrecko added, "Our facility in Tuam is one of the leading Research centres in the Group. With the support of IDA Ireland, Valeo continues to have a sustained and rewarding investment in Ireland. 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."