Valeo Group Invests 75.3 Billion Won to Expand Autonomous Driving Sensor Factory in Daegu, Signs Investment Agreement

On November 10, Daegu City signed an investment agreement at the Dongin Office of City Hall with Valeo Mobility Korea Co., Ltd. (CEO Kim Minkyu) for the expansion of its factory to establish a mass production system for advanced autonomous driving sensors.

Valeo Mobility Korea, a global automotive parts company, has decided to make an additional investment of 75.3 billion won (52 million dollars) to enhance its core technologies for advanced autonomous driving sensors and to expand its production facilities.

Daegu City Hall Sangyeok Office Building

With this latest investment, Valeo Mobility Korea's total investment will reach 150 billion won (112 million dollars), following its 74.5 billion won (56 million dollars) investment in 2022 to establish production for advanced autonomous vehicle parts in Phase 1 of the Daegu National Industrial Complex.

Through this investment, the Valeo Group has demonstrated a strong commitment to fostering Daegu as its global hub for the production of advanced autonomous driving sensors.

The key factor behind this additional investment was Daegu City's proactive efforts in building an ecosystem for the future mobility industry. By being designated as a specialized cluster for electric vehicle motor materials, parts, and equipment, and leveraging the nation's largest automotive parts cluster, Daegu provides the optimal environment for stabilizing the parts supply chain and improving production efficiency-both critical needs for Valeo.

In addition, the smooth supply of top talent from Kyungpook National University, Yeungnam University, and DGIST, as well as active support from research institutions such as the Korea Automotive Technology Institute Daegu-Gyeongbuk Regional Headquarters and the Intelligent Automotive Parts Promotion Institute, are further accelerating the commercialization of Valeo's advanced technologies.

Based on this investment, Valeo Mobility Korea aims to surpass 100 billion won in sales by 2025 and achieve over 600 billion won in sales by 2030. The company plans to establish a mass production system for core autonomous driving components such as ultrasonic sensors, radars, and computing units, and to expand AI-based automated facilities to strengthen both the stability of its global supply chain and its technological competitiveness.

This investment is expected to serve as a catalyst for the creation of Daegu's autonomous driving parts cluster and the establishment of an ecosystem for the future mobility industry, significantly contributing to Daegu's emergence as a leading hub for mobility innovation in Korea.

Kim Minkyu, CEO of Valeo Mobility Korea, stated, "With this additional investment, Valeo Mobility Korea will firmly establish itself in Daegu as a global leader in R&D and production for advanced autonomous driving. Through this, we aim to contribute to job creation, mutual growth with local partners, nurturing local talent, and revitalizing the Daegu economy."

Kim Jeonggi, Acting Mayor of Daegu, said, "We are sincerely grateful to Valeo Mobility Korea, a company with outstanding status and technological capabilities in the future mobility industry, for deciding to make an additional investment following 2022. We will spare no administrative and financial support so that the Valeo Group can further develop as a leading company in expanding and advancing the future mobility industry ecosystem based in Daegu."

This content was produced with the assistance of AI translation services.