Lear Corporation Sponsors Jaguar in FIA Formula E World Championship

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Sep 08, 2016, 09:30 ET

SOUTHFIELD, Mich., Sept. 8, 2016 /PRNewswire/ -- Lear Corporation (NYSE: LEA), a leading global supplier of automotive seating and electrical systems, today announced its sponsorship of Panasonic Jaguar Racing in the FIA Formula E World Championship, the world's first global single-seater championship for electric powered cars.

Lear vice president, E-Systems Europe & Africa, Mariano de Torres at center left shaking hands with Panasonic Jaguar racing team director James Barclay with drivers Ho-Pin Tung, Mitch Evans, and Adam Carroll.

"With the Lear E-Systems business segment providing industry-leading electrical architecture and related products for electric and hybrid vehicles, we are proud to sponsor Jaguar in its return to racing in the FIA Formula E World Championship," said Matt Simoncini, Lear's president and chief executive officer. "We have had a significant global partnership over the years with Jaguar in both seating and electrical systems and we share a vision of bringing innovation to market for the consumer. This sponsorship provides us a further opportunity to work with Jaguar to deliver automotive technologies that answer the intense demands in this high profile competition."

James Barclay, Jaguar Racing Team Director said: "It is a pleasure to welcome the Lear Corporation to the Jaguar Racing team and expand our existing relationship. Our Formula E racing programme will generate tangible research and development benefits to accelerate the electrification of future Jaguar road cars. Jaguar's entry to the pioneering FIA Formula E Championship begins a new chapter in our electric future and together with Lear we will innovate and inspire together in that future."

"Lear has long been a global leader in managing electric power and distributing signals within alternative energy vehicles," said Frank Orsini, Lear senior vice president and president, E-Systems. "With our commitment to innovation for tomorrow's vehicles, we also offer connectivity solutions, wireless capabilities and 48-volt systems for a spectrum of solutions for our OEM partners. In working with Jaguar, we enjoy a collaborative relationship that brings innovation to showrooms around the world."

About Lear Corporation

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.

About Jaguar

Jaguar Land Rover is the UK's largest automotive manufacturer, built around two iconic British car brands: Land Rover, the world's leading manufacturer of premium all-wheel-drive vehicles; and Jaguar, one of the world's premier luxury sports saloon and sports car marques. The company employs almost 38,000 people globally and supports around 275,000 more through our dealerships, suppliers and local businesses. Manufacturing is centered in the UK, with additional plants in China, Brazil and India.

About the FIA Formula E Championship

The FIA Formula E Championship is the world's first fully-electric single-seater racing series, competing on the streets in the backdrop of some of the most iconic cities - including Hong Kong, Marrakech, Buenos Aires, Monaco, Paris, Montreal and New York. The championship represents a vision for the future of the motor industry, serving as a platform to showcase the latest innovations in electric vehicle technology and alternative energy solutions. Future seasons will see the regulations open up further allowing manufacturers to focus on the development of motor and battery components, which in turn will filter down to everyday contemporary electric road vehicles. The 2016/17 FIA Formula E Championship sees 10 teams and 20 drivers go wheel-to-wheel in 12 cities spanning five continents in the fight to be crowned Formula E champion. The inaugural season of Formula E sparked into life in September 2014 around the grounds of the Olympic Park in Beijing. The third season of the all-electric racing series gets underway on October 9 in Hong Kong, with the season finale double-header in New York on July 29 & 30.