Eltek Electric Vehicles is a Norwegian company fully dedicated to designing, developing, manufacturing, assembling and commercializing worldwide high efficiency on-board chargers for passenger cars and commercial vehicles.

This acquisition will enable Valeo to accelerate and expand the development of its offer for hybrid and electric vehicles by adding Eltek Electric Vehicles' on-board chargers.

With this acquisition, Valeo will complete its offer in power electronics by adding high efficiency conversion solutions to the ongoing development of high efficiency inverters with several top Original Equipment Manufacturers.

Valeo is an independent industrial Group fully focused on the design, production and sale of components, integrated systems and modules for the automotive industry, mainly for CO2 emissions reduction. Valeo ranks among the world's top automotive suppliers. The Group has 123 plants, 20 research centers, 35 development centers, 12 distribution platforms and employs 73,300 people in 28 countries worldwide. In 2012, Valeo generated revenue of €11.8 billion and invested €1 billion in research and development.

For more information about the Group and its businesses, please visit our website at www.valeo.com

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