Brussels, 17/07/2013 (Agence Europe) - The Commission has ruled out any risk of distortion to competition due to state aid of €24.2 million granted by France to the car component manufacturer, Valeo, for its research and development programme, “ESSENCYELE”. This project seeks to develop a new hybrid system for petrol-engined vehicles. The Commission reached its decision on Wednesday 17 July on the basis of their guidelines on aid for research, development and innovation. It concluded that state aid was “necessary and sufficient” to encourage Valeo to continue with this project, which would not have been developed otherwise. (MD/transl.fl)