Paris – April 16, 2014 – Valeo today named the 20 teams shortlisted by its experts to compete in the second round of the Group's global innovation challenge.
The participating teams represent thirteen countries around the world: Australia, Belgium, Brazil, Canada, China, Egypt, France, Germany, India, Mexico, Poland, the United States and Spain.
A large number of unique, innovative project submissions, some of very high quality, have been reviewed by Valeo’s experts. These technical solutions are illustrative of each country’s specific societal concerns. For example, the Indian engineering students are taking up the issue of road safety, while the emphasis for the Mexican contingent seems to be individual safety and security. The European students, like their North American peers, are more concerned about reducing CO2 emissions and creating a smart, connected and autonomous vehicle. Across the board, they are working to make the car of 2030 a cleaner, safer and more enjoyable ride.
The shortlisted teams now have until August 29, 2014 to develop a working prototype of their project using €5,000 in funding appropriated to each of them by Valeo. Six finalists will then be selected to present their project to the jury at the 2014 Paris Motor Show in October 2014.
Comprised of Valeo experts and outside partners, the jury will be chaired by Valeo CEO Jacques Aschenbroich. The winning team will take home a €100,000 prize and the second and third-place teams will each receive €10,000.
Launched by Valeo in September 2013, the Valeo Innovation Challenge is a global contest open to engineering students around the world, invited to play an active role in automotive innovation by designing the product or system that will create smarter, more intuitive cars by 2030.
Nearly 1,000 teams from 55 countries signed up for a chance to propose and develop daring solutions that will revolutionize the car of the future.
In 2013, for the second consecutive year, Valeo was featured in Thomson Reuters’ Top 100 Global Innovators ranking, reflecting the Group’s commitment to innovation.
Most of the Group’s research and development programs are focused on the design of technologies that reduce motor vehicle carbon emissions and promote intuitive driving. The company ranks among the leading patent filers in France and dedicates around 10% of its original-equipment revenue to innovation. With close to 9,000 researchers in 16 research centers and 35 development centers around the world, Valeo has developed an array of innovative products and technologies that represent more than 30% of orders.
Valeo was also awarded the Top Employers label in 18 countries for 2013. The Group plans to hire some 1,000 engineers and technicians a year over the next three years.
Valeo is an automotive supplier, partner to all automakers worldwide. As a technology company, Valeo proposes innovative products and systems that contribute to the reduction of CO2 emissions and to the development of intuitive driving.
In 2013, the Group generated sales of €12.1 billion euros and invested over 10% of its original equipment sales in research and development. Valeo has 124 production sites, 16 Research centers, 35 Development centers and 12 distribution platforms, and employs 74,800 people in 29 countries throughout the world.
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