And it is in Europe that jobs will disappear in the sector unless the EU introduces better protection for the sector from Chinese competitors, according to Valeo CEO Christophe Périllat.
He tells the Financial Times that Valeo is still not finished with the restructuring that has been underway since 2022, a period in which 38 of the group's production facilities have been closed and only four new ones have been opened.
The demand for protective tariffs against Chinese competitors comes ahead of the European Commission's response on December 10 to previous demands from the European automotive industry - including Valeo - to postpone the goal of completely phasing out sales of new cars with combustion engines until 2035.
