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Valeo, Michelin to Collaborate on Hybrid Vehicle System Development

February 17, 2009

PARIS, France --- Valeo and Michelin revealed plans to collaborate on development of electric and rechargeable hybrid vehicle systems, including a drive train, tires, and equipment for engine and battery cooling management, climate control, lighting and energy management.

The plans are consistent with the French government's "Automotive Pact" efforts to encourage development of such technologies.

Valeo specializes in electrical systems, engine management and climate control, and was a key supplier of the drive train for over 10,000 first-generation electric vehicles developed by PSA Peugeot Citroen and Renault. Michelin, in addition to its range of tires and wheel assemblies, will contribute its know-how in the domain of Active Wheel and associated technologies.

Michelin and Valeo said they are convinced that by joining forces they will help to accelerate the emergence of electric vehicles in France and worldwide.

Valeo ranks among the world's top automotive suppliers, with 121 plants, 61 R&D centers, 10 distribution centers and 51,200 employees in 27 countries worldwide.



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