Siemens-Valeo JV to have facility in Hungary

Recycling

A joint venture planned by Germanyʼs Siemens and Franceʼs Valeo to make powertrains for electric cars will have a facility in Hungary, Siemens said yesterday, according to Hungarian news agency MTI. 

The JV will be headquartered in Germany and have facilities in France, Norway, Poland, Hungary and China, Siemens said. 

With a headcount of 700, the JV “will become a solid, committed and reputable employer”, offering staff “attractive international careers, in the fields of electrification and digitalization”, Siemens said.

The JV is expected to start operating in Q4 2016, pending approval by the relevant authorities.

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