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In July 2022, Valeo and the Daegu Metropolitan Government inked a $56 million investment deal for the mass production of ADAS (Advanced Driver Assistance Systems) parts, which are essential components for more driverless vehicles.
Date: March 30, 2024
Daegu, Korea- Valeo Inc., an automotive technology, commemorated a significant achievement with the formal grand opening of its new production plant to provide Vehicle automation sensors in Daegu, Korea.
The opening was held in the presence of Daegu Metropolitan Mayor Hong Joon Pyo, Marc Vrecko, President of Valeo Comfort and Driving Assistance Systems Business Group, Kim Min-kyu, CEO of Valeo Mobility Korea and French Ambassador of Korea, Philippe Bertoux.
In July 2022, Valeo and the Daegu Metropolitan Government inked a $56 million investment deal for the mass production of ADAS (Advanced Driver Assistance Systems) parts, which are essential components for more driverless vehicles. The greenfield Valeo plant in Daegu is scheduled to open for business in early 2025; building on the facility started in March 2023.
Prior to becoming a major Asian hub for the production of autonomous driving sensors, the Valeo Daegu plant will first produce parking assistance sensors. Crucial components including ultrasonic sensors, radars, cameras, and LiDARs will be mass-produced there.
The production is meant to satisfy the rising demand for ADAS and security systems through both local sales and exports.
Mr. Marc Vrecko, President, Valeo Comfort and Driving Assistance Systems Business Group, said, Three cars worldwide have one or more Valeo ADAS systems installed, making Valeo a market leader in ADAS manufacture. It is a privilege for us to begin manufacturing a wide range of essential autonomous vehicle parts, including radars, cameras, LiDAR sensors, and ultrasounds, at the Daegu facility in Korea. The region has a strong automotive industry foundation and a highly skilled labor force.
Since its establishment in 1999, Valeo has constructed 14 production facilities and 3 research and development centers in South Korea. After growing steadily since entering Korea in 2008, the Comfort & Driving Assistance Business Group established a South Korea Regional Operation in 2015. After a decade of close collaboration with the Korean automakers, Valeo is now acknowledged as a major player in the ADAS development landscape in South Korea.
