Valeo invests €44m in autonomous vehicle research and creates 50 jobs in Galway
26 March 2019
'This project will add significant value to the company’s operations in Tuam and will benefit Tuam, Galway and the west region substantially'.
Valeo has announced it is to invest €44 milloion in a major RD&I investment programme, which will build on the group’s strong capability in Advanced Driver Assistance Systems (ADAS) and position them at the forefront of developments in autonomous vehicles.
The investment will lead to the creation of 50 R&D roles over the next three years, which will see its Irish R&D centre grow to more than 500 people and become one of the largest R&D facilities in Ireland.
Marc Vrecko, Valeo Comfort and Driving Assistance Systems Business Group president, said: “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.”
‘Positions itself at leading edge of development of autonomous vehicles’
Minister of State for Rural Affairs and Natural Resources, Sean Canney TD, 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.
“It also shows that global companies of the calibre of Valeo can find, in regional locations, the skilled workers they require, the necessary infrastructure and services and pro-business environment, to establish and grow their operations. I wish Vice President Fergus Moyles and his team continued success here.”
IDA Ireland CEO Martin Shanahan said: “This is an exciting project, focused on new emerging and disruptive advances in Autonomous Vehicles. As a technology leader in autonomous technologies, with a global remit, Valeo is helping in the development of a cluster in Ireland around AV.
“This project will add significant value to the company’s operations in Tuam and will benefit Tuam, Galway and the West region substantially.”
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