Valeo wins lidar sensor orders worth USD561 million from four global auto groups

Corporate developments

Orders represent EUR1 billion to EUR1.5 billion worth of recurring business

Valeo has won orders worth EUR500 million (USD561 million) for lidar sensors from four global automotive groups, Reuters reported earlier this month citing an interview with Marc Vrecko, president of Comfort and Driving Assistance Business Group. “Those 500 million euros of orders with four major global auto groups will probably eventually represent between 1 to 1.5 billion euros worth of recurring business,” Vrecko said. “It’s a business where the life-cycle can go up to 2024 or 2025,” he added. Vrecko did not disclose the identity of its customers.

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