Lear plans to open new Michigan manufacturing facility to produce
electric vehicle components
SOUTHFIELD, Mich., Oct. 27,
2022 /PRNewswire/ -- Lear Corporation (NYSE:
LEA), a global automotive technology leader in Seating and
E-Systems, today announced it has been selected by General Motors
to exclusively supply the Battery Disconnect Unit (BDU) on all
full-size SUVs and trucks built on the automaker's Ultium EV
Platform through 2030.
Lear is working with state and local officials on a plan to open
a new manufacturing facility in Michigan with an anticipated investment
exceeding $80 million. The site,
which will manufacture BDUs and other electrification components,
is expected to generate $500 million
in annual electrification sales when it reaches full production.
The BDU award also expands Lear's existing business with GM and
represents the single largest electrification platform win for
Lear's E-Systems division – reinforcing its continued growth as a
leading provider of fast-to-market, system-solutions for electric
vehicles.
"Lear is developing innovative technologies that are driving the
widespread adoption of electric vehicles," said Ray Scott, Lear President and CEO. "This
additional new business with GM was made possible by Lear's
recognized value proposition in electrification that combines
flexible manufacturing operations and advanced Industry 4.0
automation technologies with our vertically integrated
capabilities."
The BDU is the primary interface between a vehicle's battery
pack and electrical system. The Automotive News PACE Award-winning
Lear BDU offers industry-leading thermal management innovations
that enable electric vehicles to charge faster and drive
farther.
Lear's BDU application also delivers the higher performance
requirements needed to power larger electric vehicles – supporting
GM's electrification efforts in North
America, where SUVs and light-duty trucks comprise most new
vehicle sales.
"With our unique electrification solutions and long-standing
collaborative relationship with GM, Lear is excited for the
opportunity to provide technologies that will help enable a
zero-emission future," Scott added. "As a Michigan-headquartered company, it is
important to make this investment in our backyard. This facility
will provide hundreds of highly skilled jobs to the state and will
be our largest investment in an electrification-focused production
site to date."
About Lear Corporation
Lear, a global automotive technology leader in Seating and
E-Systems, enables superior in-vehicle experiences for consumers
around the world. Lear's diverse team of talented employees in 38
countries is driven by a commitment to innovation, operational
excellence, and sustainability. Lear is Making every drive better™
by providing the technology for safer, smarter, and more
comfortable journeys. Lear, headquartered in Southfield, Michigan, serves every major
automaker in the world and ranks 186 on the Fortune 500. Further
information about Lear is available at lear.com or on Twitter
@LearCorporation.
Forward-Looking
Statement
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements regarding anticipated financial results
and liquidity. The words "will," "may," "designed to," "outlook,"
"believes," "should," "anticipates," "plans," "expects," "intends,"
"estimates," "forecasts" and similar expressions identify certain
of these forward-looking statements. The Company also may provide
forward-looking statements in oral statements or other written
materials released to the public. All statements contained or
incorporated in this press release or in any other public
statements that address operating performance, events or
developments that the Company expects or anticipates may occur in
the future are forward-looking statements.
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SOURCE Lear Corporation