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Valeo reveals the winners of the second Valeo Innovation Challenge

PARIS, Sept. 29, 2015 (GLOBE NEWSWIRE) -- Valeo today announced the results of its international innovation contest. For the second year running, Valeo invited students from around the world to play an active role in automobile innovation by designing the product or system that will create smarter, more intuitive cars by 2030.

With participation up 40% on last year, 1,324 teams from 89 countries signed up for a chance to invent and develop bold, revolutionary solutions for the automobile of 2030.

Valeo experts examined a vast number of projects, primarily in the field of driving assistance systems, autonomous driving and safety. The engineering students harnessed all of the opportunities offered by digital technology and adapted them to the automotive sector to improve safety on board as vehicles become increasingly autonomous.

Today the three winning teams were selected by a jury chaired by Valeo Chief Executive Officer Jacques Aschenbroich and made up of eminent figures from the world of science as well as members of the Valeo group.

First prize went to the Chinese team "Falcon View" from Peking University. They came up with a new way for autonomous cars to detect their surroundings. Instead of using lasers, the team built a cheaper wheel-based system, using a camera.

Two teams tied for second place:

The German team "Auto Gen Z", from Saarland University developed a connected system, reinforcing traffic safety. This alternative system effectively combines the three mirrors in a car into a single wide screen display.

The Indian team "M.A.D", from Sri Aurobindo International Center of Education in Pondicherry, also created a connected system reinforcing traffic safety. Based on satellite navigation, this advanced collision warning system alerts drivers, in real time, from potentially dangerous conditions.

The winning team was awarded a cash prize of €100,000, while the second teams took home €10,000 each.

At the end of the ceremony, Valeo kicked off the third annual Innovation Challenge, which will serve to recognize not only technological innovation, but also ideas for using cars in new ways. A cash prize of €100,000 will be awarded to the winner of each category. Students across all disciplines can sign up now on the contest's dedicated website.

For more information: https://valeoinnovationchallenge.valeo.com/

With the Valeo Innovation Challenge, Valeo is demonstrating once again that innovation and R&D are the Group's top priorities. Day in, day out, its teams are guided by a constant commitment to innovation as they work to invent the car of tomorrow.

Valeo dedicates nearly 11% of its original equipment revenue to innovation, which is a priority focus for the Group. Most of its research and development programs are focused on the design of technologies that reduce motor vehicle carbon emissions and promote intuitive driving. Ranking among the leading patent filers in France, Valeo has close to 11,000 researchers in 50 research and development centers around the world. Valeo has developed a wide array of innovative products and technologies that represented 35% of its order intake in 2014.

Valeo was also certified as a "Top Employer" in 22 countries for 2015.

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Valeo is an automotive supplier, partner to all automakers worldwide. As a technology company, Valeo proposes innovative products and systems that contribute to the reduction of CO2 emissions and to the development of intuitive driving.

In 2014, the Group generated sales of €12.7 billion and invested over 11% of its original equipment sales in research and development. Valeo has 133 plants, 16 research centers, 34 development centers and 15 distribution platforms, and employs 81,200 people in 29 countries worldwide.

Valeo is listed on the Paris stock exchange and is a member of the CAC 40 index.

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

For more information, please contact:
Media Relations
Tel: +33 (0)1 40 55 21 75/37 18/21 20
press-contact.mailbox@valeo.com

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Source:Valeo

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