PARIS: French auto parts maker Valeo is investing in India’s engineering capabilities, growing middle class and regulatory changes.

The company, which is worth 162 The company plans to invest about $100 million billion dollars (Rs. 66.51 billion) in India over the next two to three years, hiring 10,000 Many engineers to support local and global operations.

India’s middle class is growing rapidly, their spending power is increasing, and new regulations will add value to our products. We plan to hire software and production engineers to support the global market. ” said CEO Jacquesssess Andr Aschenbroich to ETin in an interview.

Aschenbroich (Aschenbroich) in 1987-1988 as a French bureaucrat and minister, he was a central figure in the development of the company’s CO2 reduction technology and strategy for emerging markets such as India.

He said that China’s current revenues are about 18% Projected future $1 billion Projected future $1 billion India will reach a similar level of annual revenues.

Valeo currently generates $350 1 million in revenue in India is expected to double in the next two to three years. The automotive technology provider is also set to launch three new low-cost hybrid solutions in India in the next one to two years. Valeo provides mild hybrid solutions to Indian automakers such as Maruti Suzuki and Mahindra. The solution saves fuel by shutting down the engine and restarting it quickly when coasting, braking or stopping. Mild hybrid technology is one of our main focuses. ” said Aschenbroich.

The company also plans to launch a low-cost premium light hybrid system in India. Michel Forissier, Valeo’s director of R&D and strategy for electric and hybrid vehicles, he said that in India, all passenger cars longer than 4 meters will soon be light hybrids. The company plans to launch light hybrid cars with 3 to 4 KW energy in 2018.

(Journalist invited to Paris by Renault)