Car parts group Valeo announces €500mil of orders for its ‘Lidar’ sensors


  • TECH
  • Thursday, 04 Jul 2019

The logo of Valeo is seen at the high profile startups and high tech leaders gathering, Viva Tech,in Paris, France May 16, 2019. REUTERS/Charles Platiau/Files

PARIS: French car parts company Valeo has won €500mil (RM2.33bil) worth of orders for its 'Lidar' car sensor products, Valeo executive Marc Vrecko told Reuters in an interview, highlighting the potential growth of Lidar.

"Those €500mil (RM2.33bil) of orders with four major global auto groups will probably eventually represent between €1bil (RM4.66bil) to €1.5bil (RM6.99bil) worth of recurring business," said Vrecko.

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Tech News

Microsoft hit with $242 million US verdict in Cortana patent lawsuit
After layoffs, Musk says Tesla to spend $500 million on charging network
Binance registers with India's financial watchdog as it seeks to resume operations
FBI working towards nabbing Scattered Spider hackers, official says
Crypto group with 440,000 members launches PAC to target House, Senate elections
TikTok to start labelling AI-generated content as technology becomes more universal
Hong Kong businesses embrace potential of silver economy with more services, tech for rising number of elderly
China carer devotes life to solitary elderly man for 12 years, gets five flats worth millions in thanks for efforts, wins plaudits online
Einstein and anime: Hong Kong university tests AI professors
Foxconn's Q1 profit to jump from low base, AI to power growth

Others Also Read