Lear Corp - Company Profile
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Business Description
Lear Corp (Lear) is a manufacturer and seller of seating and E-Systems. Its major products include complete seat systems, key seat components, complete electrical distribution and connection systems, high-voltage power distribution products, including battery disconnect units (BDUs), low-voltage power distribution products, electronic controllers, and other electronic products.
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R&D Overview
The R&D arms of the company focus on identifying and implementing new technologies for use in the design and development of its products. It operates a global innovation and technology center in Southfield, Michigan, the US. The company also operates seven advanced technology centers. As of December 2024, it had 2,800 patents and patent applications pending.
Business Segments
Overview
It consists of the design, development, engineering, and manufacture of complete electrical distribution and connection systems; high-voltage power distribution products, including BDUs; and low-voltage power distribution products, electronic controllers, and other electronic products. Key components of the electrical distribution and connection systems portfolio include wire harnesses, terminals and connectors, high-voltage battery connection systems, and engineered components. High-voltage battery connection systems include intercell connect boards, bus bars, and main battery connection systems. Key components of other electronic product portfolios include zone control modules, body domain control modules, and low-voltage and high-voltage power distribution modules. Software offerings include embedded control, cybersecurity software, and software to control hardware devices. In FY2024, the segment's capital expenditure stood at US$166.7 million, which decreased 36.2% YoY.
Performance
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Overview
It consists of the design, development, engineering, and manufacture of complete seat systems and key seat components. Products offered include seat trim covers; surface materials such as leather and fabric; seat mechanisms; seat foam; thermal comfort systems such as seat heating, ventilation, active cooling, pneumatic lumbar and massage products; and headrests. In FY2024, the segment's capital expenditure stood at US$375 million, which increased 8.8% YoY.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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