Lear Invests in Silicon Valley-Based Autotech Ventures

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Jan 07, 2020, 09:00 ET

SOUTHFIELD, Mich., Jan. 7, 2020 /PRNewswire/ -- Lear Corporation (NYSE: LEA), a global automotive technology leader, today announced it has invested in Silicon Valley-based venture capital firm Autotech Ventures to support startups in deploying revolutionary mobility technologies.

The investment is being made through Lear Innovation Ventures (LIV), which was launched one year ago, to identify advanced development teams and early stage technologies and provide direct capital to innovation initiatives.

Autotech Ventures' portfolio and investing activities are largely focused on software, services and electronics startup companies working to enable connected, autonomous, energy-efficient vehicles and services. LIV and Autotech Ventures will work together to enable future collaboration and this investment expands Lear's involvement and commitment in the mobility technology ecosystem.

"With Autotech Ventures' deep industry network and focus on identifying emerging trends in the automotive market, this is an excellent opportunity for LIV," said John Absmeier, Lear Chief Technology Officer. "As consumer demand increases for intelligent mobility and experience-enabling technologies, we are focused on making every drive better through strategic investment and purpose-driven innovation."

Since its inception in 2019, LIV has announced multiple initiatives and projects, including an investment in an Israel-based venture capital fund managed by Maniv Mobility, and entered into partnerships with global accelerator Techstars and Silicon Valley innovation platform Plug and Play.

About Lear Corporation
Lear, a global automotive technology leader in Seating and E-Systems, enables superior in-vehicle experiences for consumers around the world. Our diverse team of talented employees in 39 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 #147 on the Fortune 500. Further information about Lear is available at lear.com, or follow us on Twitter @LearCorporation.

SOURCE Lear Corporation