Valeo and Michelin Partner for Rechargeable Hybrid Systems
“This announcement demonstrates the willingness of the two Groups to contribute to the federation of companies around the development of these technologies in France, as encouraged by the French Government’s “Automotive Pact”, they added.
In essence, the two companies believe that working together can really boost the use of electric vehicles in France and overseas because using the technologies the two companies currently own simplify and increase the speed of the development process.
“Valeo is an expert in electrical systems, engine management and climate control, and was a key supplier of the drive train for over 10,000 first generation electric vehicles developed by PSA Peugeot Citroen and Renault. Michelin, in addition to its range of tires and wheel assemblies, will contribute its know-how in the domain of Active Wheel and associated technologies,” Valeo said in the statement, underlining that the company's abilities will play a very important role in the joint venture.
“The technological developments of both partners are complementary in terms of products and expertise,” it added.
The two companies did not mention which may be the companies interested in acquiring their hybrid systems but, given the current market conditions which push automaker close to this kind of technologies, the Valeo-Michelin agreement will surely cause a stir in the automotive world.