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

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Jan 08, 2019, 11:00 ET

SOUTHFIELD, Mich., Jan. 8, 2019 /PRNewswire/ -- 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 Innovation Ventures (LIV) Possibilities

"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."

About Lear Corporation

Lear Corporation is one of the world's leading suppliers of automotive seating systems and electrical systems (E-Systems). Lear serves every major automaker in the world, and Lear content can be found on more than 400 vehicle nameplates. Lear's world-class products are designed, engineered and manufactured by a diverse team of approximately 165,000 employees located in 39 countries. Lear currently ranks #148 on the Fortune 500. Lear's headquarters are in Southfield, Michigan. Further information about Lear is available at lear.com or follow us on Twitter @LearCorporation. Lear is where passion drives possibilities.

SOURCE Lear Corporation