Giants like Tesla, Waymo and Apple are making headlines for their bids to bring automotive innovation to the Bay Area. But a growing local ecosystem of suppliers further down the production chain may be just as likely to reap the rewards from self-driving and electric vehicles.

That’s the hope that led Valeo, a multinational auto supplier headquartered in Paris, to open an office in San Mateo last month, nestled on a block that houses auto repair shops and parts stores.

“We need to have a permanent…