Lear Corporation

01/08/2019 | Press release | Distributed by Public on 01/08/2019 10:29

Lear Accelerates the Pace of Innovation with the Launch of Lear Innovation Ventures (LIV) Possibilities

SOUTHFIELD, Mich., Jan. 8, 2019 -- Lear Corporation (NYSE: LEA), a global automotive technology leader, is pleased to announce the launch of Lear Innovation Ventures (LIV) Possibilities, led by John Absmeier, Lear's Chief Technology Officer.

LIV Possibilities is the framework underlying Lear's focus on product, process, and business model innovation. Lear will invest in advanced development teams, partnerships, and early stage technologies by working with venture capital firms, accelerators, and incubators; providing direct capital to start-ups and internal innovation initiatives.

'Lear is driving progressive change in our company and the industry by creating intelligent technologies and products that meet future mobility trends,' said John Absmeier. 'Lear is committed to a systematic process of innovation that aligns with increasing consumer demands for new intelligent and environmentally friendly technologies, a safer driving experience, a better user experience, and seamless connectivity. We are hyper-focused on intensifying our activities around the autonomous, connected, electrified and shared mobility trends.'

'We are well positioned through our diverse product portfolio and strong financial discipline to separate ourselves from our competitors, even in challenging times,' said Ray Scott, Lear President and CEO. 'This combination is a great foundation for the development of LIV Possibilities. I look forward to the next level of partnerships and innovations that we will see as a result.'

LIV Possibilities represents the future of Lear's innovation activities and aligns with Lear's corporate mantra of 'Where Passion Drives Possibilities.'

Posted on 1/8/2019

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