Latest news for Valeo (OTC:VLEEF) Stock

Based in France, Valeo is an automotive parts supplier that operates through four business segments, including powertrain systems (PTS, 31% of 2022 revenue), thermal systems (THS, 22%), comfort and driving assistance systems (CDA, 22%), and visibility systems (VIS, 25%). As of 2022, Valeo generated 84% of its revenue through original equipment sales and 11% of revenue through aftermarket parts. The firm's five largest automaker customers accounted for 53% of 2022 revenue. Europe is Valeo's largest geographic market at 45% of 2022 revenue, followed by Asia at 33%, and Americas at 22%.

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Tesla Inc (NASDAQ: TSLA) asked the Federal Communications Commission for approval of a motion-sensing device that could prevent children from being left inside hot vehicles, Reuters 

Tesla Asks FCC To Approve In-Vehicle Radar System That Could Detect Children Left In Dangerously Hot Cars

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Valeo

<p><strong>Tesla Inc</strong> (NASDAQ:<a class="ticker" href="/stock/TSLA#NASDAQ">TSLA</a>) asked the Federal Communications Commission for approval of a motion-sensing device that could prevent children from being left inside hot vehicles, Reuters <a href="https://www.reuters.com/article/us-tesla-safety/tesla-seeks-approval-for-sensor-that-could-detect-child-left-in-hot-cars-idUSKBN25G2GY">reported</a> Thursday.</p>

<h3>What Happened</h3>

<p>The automaker&rsquo;s short-range interactive motion-sensing device uses unlicensed millimeter-wave sensors, which work at higher power levels than currently allowed, according to Reuters.</p>

<p>The Elon Musk-led company claims that the device based on radar technology has advantages over other systems including camera-based ones as it can perceive depth.</p>

<p>The system can &ldquo;differentiate between a child and an object left on the seat, reducing the likelihood of false alarms,&rdquo; Tesla stated. The company says the device can also detect micromovements like breathing patterns and heart rates.</p>

<p>Additionally, radar imaging can supposedly assess body size to optimize airbag deployment in the event of a crash.</p>

<h3>Why It Matters</h3>

<p>52 children died as a result of being left in hot cars in 2019, while 18 have died so far this year,&nbsp;<a href="https://www.nhtsa.gov/child-safety/help-prevent-hot-car-deaths">according</a> to data from the National Highway Traffic Safety Administration.</p>

<p>The FCC has invited public comments on Tesla&rsquo;s request through Sept. 21, Reuters noted.</p>

<p>The California-based automaker reportedly told the FCC that the latter approved a similar request from <strong>Alphabet Inc&rsquo;s</strong> (NASDAQ:<a class="ticker" href="/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="/stock/GOOG#NASDAQ">GOOG</a>) subsidiary Google related to a device that operates identically.</p>

<p>Automotive supplier <strong>Valeo SA&rsquo;s</strong> (OTC:<a class="ticker" href="/stock/VLEEF#OTC">VLEEF</a>) North America unit approached the FCC for its monitoring device that also detects children left in cars.</p>

<h3>Price Action</h3>

<p>Tesla shares closed nearly 6.6% higher at $2,001.83 on Thursday and rose almost 0.4% in the after-hours session.</p>
 

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