French auto parts supplier Valeo has doubled down on its commitment to China, viewing it as a "fitness center" for innovation, technology, and competitiveness, as CEO Christophe Perillat led a senior delegation to the country on a mission to secure business from Chinese electric vehicle makers.
Perillat, together with a team of senior executives, arrived in China Sunday for a deal-hunting trip. On the second day, they visited a research and development center of a Chinese automaker to experience the country's latest new-energy vehicle (NEV) technologies, including advancements in AI-powered mobility. "Looking at the last five years, we have invested 26 billion RMB in China, which is equivalent to the sales of one year. So you see we are extremely committed to China and we have massively invested in China. Looking at last year 2025 in China, among all the orders that we booked, more than 80 percent of these orders have been booked with Chinese OEMs (original equipment manufacturers)," he said. The CEO said global suppliers are now deeply embedded in China's innovation ecosystem, and that long-term investment in the country remains essential for staying competitive in the world's fastest-moving automotive market.
"So right to say that I call the Chinese auto market as the fitness center of the automotive industry. And the reason for that, that's the place where you find the highest level of innovation, the highest level of competitiveness and the highest speed. This is what it's like a fitness center where you run every single hour of every single day. Matching the demand of this market requires to be very fit, and when it comes to value, it means being even more Chinese," he said.
Chinese automakers are increasingly viewed as both "super buyers" and "super sellers" by global parts suppliers, who are drawing more foreign firms to deepen their presence in China's supply chain.
The French auto parts maker first entered China in 1994, and now employs over 18,000 people across 27 production plants and 13 research and development centers in the country.
Valeo CEO calls China 'fitness center' for global auto industry
Yemen's Houthi group said that it had carried out multiple attacks on Saudi and Saudi-led coalition targets, while the Saudi-led coalition said it intercepted a Houthi missile, and Yemeni government forces reported operations against the group on several fronts.
In a statement released early Thursday, the Houthis said they used a surface-to-air missile to hit a Saudi Typhoon fighter jet. The aircraft, they said, had taken off from Saudi Arabia's Taif Air Base and was hit over Yemen's Sa'adah Province. Saudi Arabia has not yet responded to the claim.
Earlier on Wednesday, the Houthis said they launched a large-scale attack using ballistic missiles, cruise missiles and drones against oil facilities of energy giant Saudi Aramco in Dhahran in eastern Saudi Arabia, as well as King Khalid International Airport and a Saudi Aramco refinery in the Saudi capital, Riyadh.
The Houthis said in a separate statement released Wednesday evening that the group had fired one more ballistic missile at King Khalid International Airport and launched three ballistic missiles at Saudi-led coalition targets in southern Yemen.
Turki al-Maliki, spokesman for the Saudi-led coalition, said on Wednesday that they had intercepted and destroyed a Houthi ballistic missile fired toward Riyadh. Saudi Arabia's General Directorate of Civil Defense said in a statement on Wednesday that fragments from the intercepted missile fell in Riyadh, injuring one person.
Meanwhile, the Houthi-run al-Masirah TV reported that late on Wednesday the Saudi-led coalition carried out an airstrike on a residential building in the Al Maravi'ah area of Hodeidah province, which is under Houthi control. Early on Thursday, al-Masirah also reported that Yemen's capital, Sanaa, had come under Saudi attack.
According to a Houthi statement issued on Wednesday evening, the Saudi-led coalition launched 42 airstrikes and missile attacks on Houthi-controlled areas in the previous 24 hours. The Houthis said that Saudi attacks on islands in the Bab el-Mandeb Strait directly threatened the safety of maritime shipping routes.
Separately, Yemeni government forces said on Wednesday that they continued to strike Houthi targets and personnel on the eastern and southern fronts.
Yemen has been mired in conflict since late 2014, when the Houthis seized the capital Sanaa and much of northern Yemen, prompting a Saudi-led coalition to intervene in 2015 in support of the Yemeni government.
Houthis, Saudi-led coalition report fresh military actions against each other
