SOUTHFIELD, Mich., Aug. 9, 2016 /PRNewswire/ -- Lear Corporation
(NYSE: LEA), a leading global supplier of automotive seating and
electrical systems, today announced that it is renaming its
Electrical business segment as the "E-Systems"
business segment. This name change is intended to reflect the
increasing complexity of automotive electrical systems and Lear's
expanded electrical architecture and vehicle connectivity
capabilities.
Lear is a global leader in managing electric power and
distributing signals within a vehicle for both traditional
electrical architectures and alternative energy vehicles.
Lear's E-Systems portfolio consists of wire
harnesses, terminals & connectors, complex electronic modules,
power converters and inverters, battery chargers, 48-volt systems,
wireless capabilities, software, cybersecurity, lighting modules
and audio components. Lear was a pioneer in Smart Junction
Box technology, and today is a leader in connected gateway modules
which facilitate secure processing of all of a vehicle's
electrical, electronic and data requirements.
Lear recently acquired Arada Systems and intellectual property
and technology from Autonet Mobile, adding software and hardware
capabilities that securely connect vehicle electrical systems to
networks and devices outside the vehicle. With these enhanced
capabilities, Lear now has the ability to process signals and data
both within the vehicle and outside the vehicle.
"Lear has a long-history of providing industry-leading
automotive electrical distribution systems. Today, we are
uniquely positioned with complete electrical architecture expertise
and signal and data management capabilities, including connected
gateways, wireless capabilities and related software and
hardware. With 21 first-to-market innovations in the last
four years and over 600 software engineers globally, we are
extremely well positioned to capitalize on the mega-trend of
vehicle connectivity. With our industry-leading electrical
systems portfolio and a global low-cost footprint, we expect to be
able to grow our E-Systems business at an annual rate
of 5 percentage points above market growth over the next 5 to 7
years," said Matt Simoncini, Lear's
president and chief executive officer.
Lear Corporation (NYSE: LEA) is one of the world's leading
suppliers of automotive seating and electrical distribution
systems. Lear serves every major automaker in the world, and Lear
content can be found on more than 350 vehicle nameplates.
Lear's world-class products are designed, engineered and
manufactured by a diverse team of approximately 140,000 employees
located in 36 countries. Lear currently ranks #154 on the
Fortune 500. Lear's headquarters are in Southfield, Michigan. Further
information about Lear is available at http://www.lear.com or
follow us on Twitter
@LearCorporation.
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SOURCE Lear Corporation