France's Valeo aims to double China revenue by 2015
BEIJING -- French supplier Valeo plans to double its China sales to 1.5 billion euros (12.5 billion yuan) by 2015, the company said.
Last year, Valeo's China sales accounted for 8 percent of its global total. By 2015, China will contribute 11 percent of its global revenue, Valeo said at last week's Beijing auto show.
As sales rise, the company expects to increase its workforce in China to 15,000 people, up from 9,600 now.
Valeo has 21 plants in China that produce powertrain components, driver assistance systems and thermal systems.
By 2020, Valeo aims to quadruple its China sales to 25 billion yuan.
Valeo ranks No.21 on the Automotive News Europe list of the top 100 global suppliers with worldwide original-equipment automotive parts sales of $7.95 billion in 2010.