Valeo invests more than US$163 million in its Technical Development Center

Valeo invests more than US$163 million in its Technical Development Center

QUERETARO - Valeo has announced an expansion of its Technical Development Center (MTeC) for the manufacture of automotive technologies.

Marco Antonio Del Prete Tercero, head of the Ministry of Sustainable Development (SEDESU), highlighted the importance of this investment of more than US$163 million over the next five years.

This project, focused on the automotive sector, not only represents a substantial economic boost for the state, but will also generate 510 potential jobs in the sector.

Del Prete Tercero underscored the growing confidence of companies in Querétaro, backed by the increase in investments that have consolidated the region as an attractive pole for industrial development.

In the period from January to November, Querétaro has finalized 12 automotive projects, totaling an investment of US$719 million and the creation of 4,180 jobs. Highlighting the importance of the sector, 49.3% of exports between January and June 2023, totaling US$9.1 billion, came from the transportation equipment manufacturing segment, representing an annual growth of 20.7%.

Jeffrey Shay, president of Valeo in North America, explained that the investment will focus on integrating skills and competencies from all engineering disciplines, including software, systems validation and electronic design. Initially, the team will consist of 150 members, with projections to reach more than 500 as the project progresses.

Valeo's investment will not only strengthen its presence in Querétaro, but will also contribute to the technological development of the automotive sector in Mexico, consolidating the state's position as a benchmark in the industry.