Valeo Group | 10 Nov, 2023 | 3 min
Valeo and Tecnobus signed a Letter of Intent to prepare the future of Valeo’s site in Ferentino.
Valeo has been present in Ferentino since 1974 with a site where the Group produces technologies for thermal management of the vehicles, and HVAC units in particular, for Italian OEMs. Over the past 50 years, Ferentino has developed incredible skills and knowledge. However, with the acceleration of electrification, the activity of the site has been slowly decreasing as OEMs focus more and more on electric vehicles, which do not use the kind of systems produced in the Ferentino site. As a result, Valeo has been looking for new opportunities to preserve the expertise and secure the future of the site and its people.
Tecnobus is an Italian manufacturer of electric powered minibuses established since 1998 and already present in Ferentino. They are looking to increase their footprint to support the rapid ramp up of their production as demand for electric mobility booms.
As per the agreement signed by the groups, Tecnobus will take over Valeo’s site before the end of the year. To be in a position to start the new production lines quickly, Tecnobus intends to leverage the existing industrial capabilities as well as the skills of the 55-strong workforce, who will all be offered positions. This acquisition is part of a larger investment plan of 30 million euros. Tecnobus intends to further develop the existing facilities as well as to recruit more than 100 people.
Maurizio Martinelli, Valeo Group President Italy, “the Automotive industry is facing the most impressive revolution in its history with vehicles becoming electric, safer and greener. Valeo is anticipating the impact on its activity and people with the development and industrialisation of new technologies, but also by finding new opportunities to leverage the expertise developed over decades on its sites. The takeover by Tecnobus is a great opportunity to secure the future of the site and its people, while contributing their expertise to the development of electric mobility, in Italy but also in Europe. At Valeo, we are committed to offering technologies for affordable and more sustainable mobility and we are looking forward to continuing contributing to the Italian ecosystem with our other sites in the country. ”
Paolo Marini, CEO Tecnobus, “Tecnobus is probably the oldest company producing electric minibus in the world. Though production was put on hold some years ago, Tecnobus sold electric minibuses in 47 main cities in the world in the past years, as market leader. With our acquisition, at the end of 2021, our target is to regain that leadership position. As Tecnobus is growing and the demand for our products booms, we are very proud to add to our amazing journey to offer solutions for more sustainable collective mobility thanks to our electric technologies. Leveraging the skills and heritage built by Valeo, we are looking forward to welcoming the new workforce and getting ready to start the production in our new location in Ferentino.”
About Valeo
As a technology company and partner to all automakers and new mobility players, Valeo is innovating to make mobility cleaner, safer and smarter. Valeo enjoys technological and industrial leadership in electrification, driving assistance systems, reinvention of the interior experience and lighting everywhere. These four areas, vital to the transformation of mobility, are the Group’s growth drivers.
Valeo is listed on the Paris Stock Exchange.
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About Technobus
Tecnobus sold the first electric vehicle for transporting people in 1988, the first Gulliver electric minibuses were sold in 1994, and today it represents the European leader in minibuses with over 500 vehicles sold in and outside Europe.
The only one in the world with more than 200 million kilometers of history.
Tecnobus has been always committed to fully respond to the growing expectations of public transport entities and operators who wish to reduce air pollution by using truly zero-emission buses.
The professional approach implemented by Tecnobus provides its customers, starting from the design phases, with reliability and quality commitments, limiting CO2 emissions.
Today, hundreds of minibuses are in operation around the world.
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Giorgia Bagnolati +34 7 6073753