Valeo doubles sales in thermal solutions for EVs
French automotive supplier Valeo has won orders for its thermal systems for vehicle electrification worth more than four billion euros since the beginning of this year. Thermal solutions include air conditioning, heat pumps and battery cooling systems.
The increase in sales represents almost double the figure for the same period in 2021. The major contributor to this increase is a new contract with Stallantis. The carmaking giant ordered Valeo’s systems in thermal comfort for electric cars in September. Valeo has been supplying the car company with a heat pump solution since 2019. Valeo says it will soon deliver a new generation of the technology for Stellantis’ next electric platform.
Here, Valeo has not been specified about exactly which of the upcoming Stellantis platforms it will be supplying – the carmaking group is known to be developing the SLTA Small, Medium, Large and Frame. The French supplier has only revealed that the latest heat pump is supposed to be more compact and easier to integrate.
Valeo also signed a contract with another, albeit unnamed, major European car manufacturer to supply air conditioning systems for electric vehicles and front cooling modules. The focus in the development here was on the noise development of the components, since noises in electric cars are more audible because they are not being drowned out by the sound of a combustion engine. Valeo claims its combination of air conditioning and a front cooling module is the most powerful system on the market.
From a major Chinese carmaker, Valeo received an order for its Smart Heat Pump, which is a new compact heat pump module. This is designed to improve the energy efficiency of electric cars, reduce the weight of the thermal system, and minimise integration costs for car manufacturers. Mass production of the technology will begin in 2023.
Another customer in Europe made an order for battery cooling systems. Valeo also says it has orders for electric heating solutions for four customers in China and Europe, as well as electric compressors for two major electric platforms.
Francisco Moreno, president of Valeo’s Thermal Systems business group, predicts that sales of thermal systems for electric cars will reach 2.5 times the volume of thermal systems for internal combustion cars by 2025. “The excellent sales performance since the beginning of the year shows that this acceleration is already underway and that, in line with our Move Up strategy, Valeo is shifting its electrification efforts into higher gear,” Moreno said.