October 4, 2013. Valeo is inviting engineering students to take part in the global Valeo Innovation Challenge. The goal is to design equipment that, between now and 2030, will make the car more intelligent and intuitive.
For the initial selection rounds, engineering students are to develop bold, revolutionary solutions for the society of tomorrow and, as a team, submit a project in English. The 20 shortlisted teams will then be asked to create a model in the format of their choice (physical mockup, application, or other). Each team will be given €5,000 to put their idea into practice and build a functioning demonstrator. The three finalist teams will present their projects to the Challenge jury of Valeo experts and external partners, chaired by Valeo CEO Jacques Aschenbroich, at the 2014 Paris Motor Show. The winning team will take home a €100,000 prize.
With this Innovation Challenge, Valeo is demonstrating once again that R&D is a Group priority, guiding teams who are innovating each day to invent the automobiles of tomorrow.
In 2012, Valeo was featured for the first time in Thomson Reuters’ Top 100 Global Innovators ranking, reflecting the Group’s commitment to innovation.
Most of Valeo’s research and development programs are focused on the design of technologies that reduce vehicle CO2 emissions. The company ranks among the leading patent filers in France and dedicates nearly 10% of its original equipment sales to innovation. With close to 9,000 researchers in 20 research centers and 35 development centers around the world, Valeo has developed an array of products and technologies that represent more than 30% of its order intake.
The Group plans to hire some 1,000 engineers and technicians a year over the next three years, including 400 in France.
Valeo is an independent industrial Group fully focused on the design, production and sale of components, integrated systems and modules for the automotive industry, mainly for CO2 emissions reduction. Valeo ranks among the world's top automotive suppliers. The Group has 123 plants, 20 research centers, 35 development centers, 12 distribution platforms and employs 73,300 people in 28 countries worldwide. In 2012, Valeo generated sales of €11.8 billion and invested €1 billion in research and development.