French automotive components manufacturer Valeo has acquired 80 per cent of the China-based lighting specialist Ruby.
Chery Technology, a subsidiary of the Chinese automotive manufacturer Chery Automobile, will retain a 20 per cent stake in the company, to be renamed Wuhu Valeo Automotive Lighting Systems.
The new joint venture will design, manufacture and sell Valeo Lighting Systems products—predominantly for Chery Automobile in the Chinese market—and will be integrated within Valeo’s Visibility Systems Business Group.
