Multinational giants gather Wuhan Jiangcheng auto parts procurement base
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Valeo Group, one of the world's top ten auto parts companies, will purchase large-scale products in the future, which will bring huge business opportunities to local suppliers. Valeo has annual sales of over 10 billion euros, 140 factories around the world and operations in 25 countries. The group spent a large amount of money last year to establish a technology research and development center in the Wuhan Development Zone and set up the Valeo Lighting Company. This time, it will bring its world's top eight manufacturers to come to Seoul to purchase automotive parts and components. The group's chairman disclosed that Valeo will use Wuhan as the next global procurement base, strengthen localized technology development and product design, and further advance its global strategy. It is understood that in addition to the Valeo Group, dozens of auto and auto parts companies led by Germany Volkswagen, Japan’s Mizuho Bank and Mitsubishi Bank will all purchase automotive parts and components this month.