In a significant development for the future of Valeo's site in Ferentino, Valeo and Tecnobus have signed a Letter of Intent, paving the way for Tecnobus to take over the site by the year-end.
The takeover by Tecnobus not only secures the future of the Ferentino site but also aligns with the evolving landscape of the automotive industry, marking a strategic move towards electric mobility solutions.
Tecnobus, an Italian manufacturer specialising in electric-powered minibuses, plans to leverage existing industrial capabilities and the skills of the 55-strong workforce at the Ferentino site.
All existing employees will be offered positions as part of this acquisition, which is part of Tecnobus's larger investment plan of 30 million euros. The company aims to develop the facilities further and hire over 100 additional employees.
Valeo, present in Ferentino since 1974, has been a key player in producing technologies for thermal management and HVAC units for Italian OEMs. However, with the increasing focus on electric vehicles by OEMs, the activity at the Ferentino site has seen a gradual decline as the demand for the systems produced there diminishes. Valeo sought new opportunities to preserve expertise and secure the future of the site and its workforce.
Maurizio Martinelli, President – Italy, Valeo Group, emphasised the significant revolution in the automotive industry with the shift towards electric, safer, and greener vehicles. Valeo anticipates this impact by developing new technologies and finding opportunities to leverage decades of expertise. The acquisition by Tecnobus presents an opportunity to secure the future of the site and contribute to the development of electric mobility in Italy and Europe.
Paolo Marini, CEO, Tecnobus, highlighted the company's excitement about welcoming the new workforce and preparing for production at the new location in Ferentino. By leveraging the skills and heritage built by Valeo, Tecnobus aims to play a key role in the burgeoning demand for electric mobility.