Patrick Pérez appointed as scientific director of VALEO.AI

Patrick Pérez has been appointed Scientific Director of Valeo.ai, the first global research center in artificial intelligence and deep learning dedicated to automotive applications, founded in Paris in June 2017.

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He will start his new role at Valeo.ai in early March.

Patrick Pérez is an internationally renowned expert in machine learning and computer vision research. With nearly 300 co-authored publications and around 30 filed patents to his name, he has a total of 27 years of experience including top positions in the public research sector (research director at the French National Institute for Computer Science and Applied Mathematics – INRIA) as well as the private sector (a combined 12 years at Microsoft Research and Technicolor Research).

In line with Valeo’s open innovation strategy, Patrick Pérez will continue to build the Group’s connections with the global academic and scientific community, both in artificial intelligence and the automotive industry, while ensuring that Valeo.ai works closely with Valeo’s application centers worldwide. Valeo.ai will also become a platform for exchanging ideas and developing future applications with start-ups in these fields.

In this role, Patrick Pérez will be supported by a scientific committee that will include, in particular, Stéphane Mallat, Professor and Data Science Chair at the Collège de France, in order to assist Valeo in its strategic thinking and research projects in artificial intelligence.

Alongside the appointment of a Scientific Director and the establishment of a scientific committee at Valeo.ai, the Group also announced that it has entered into strategic partnerships and strengthened academic ties with INRIA, Telecom ParisTech, Mines ParisTech and the French Alternative Energies and Atomic Energy Commission (CEA).

Jacques Aschenbroich, Valeo’s Chairman and Chief Executive Officer, commented: “The challenges relating to autonomous cars position Valeo, a technological leader, at the scientific forefront of artificial intelligence and deep learning. The arrival of a world-renowned expert of Patrick Pérez’s caliber at Valeo.ai and the signing of academic partnerships with leading scientific institutes attest to our ambitions and to our accelerating pace on this technological journey.

Via Valeo Press Release

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Valeo joins hands with Pyeong HWA Group to create Valeo-Kapec

On February 6, 2017, Valeo announced that it had signed an agreement with its long­standing South Korean partner, PHC Group, to create a joint venture set to become the world leader in torque converters for automatic and continuous variable transmissions.

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Having obtained the necessary regulatory approvals, Valeo and its partner PHC Group today confirmed that the transaction has been completed.

The company will employ approximately 3,150 people and will be controlled and fully consolidated by Valeo. It is forecast to generate sales of around 1 billion euros on an annual basis and will be accretive to Valeo’s operating margin from its first fiscal year.

Valeo-Kapec will capitalize on the two partners’ strong geographic, product and business complementarity to create purchasing, manufacturing and, above all, R&D synergies.

“By strengthening our ties with our long-standing South Korean partner and creating this joint venture, we will double our sales of torque converters for automatic and continuous variable transmissions and become the world leader in this high-technology product line,” said Jacques Aschenbroich, Valeo’s Chairman and Chief Executive Officer. “And by stepping up our presence in South Korea and increasing sales to Hyundai-Kia, we expect our sales in Asia to increase by around 500 million euros.”

Via: Valeo