Lear to Supply Advanced Connectivity and Vehicle Positioning Solutions to Global Electric Vehicle Manufacturer

Rhea-AI Summary

On November 15, 2021, Lear Corporation (NYSE: LEA) announced it will supply its 4G/5G telecommunications unit to a global electric vehicle maker starting in late 2022. This technology integrates Global Navigation Satellite System for precise vehicle positioning, enhancing driving and parking functionalities.

Lear's system delivers accuracy within 10 centimeters and is globally available, offering a flexible, data-efficient solution that reduces costs for automakers. This award underscores Lear’s position in advanced automotive technology.

Positive

• Awarded contract to supply 4G/5G telecommunications unit, enhancing market position.
• Provides vehicle positioning accuracy up to 10 centimeters (4 inches), surpassing industry standards.
• Global service availability, including China, without reliance on local infrastructure.
• Offers a modular, flexible solution that minimizes data usage by 20 to 30 times compared to competitors.

Negative

• None.

SOUTHFIELD, Mich., Nov. 15, 2021 /PRNewswire/ -- Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today announced it will begin supplying its 4G/5G telecommunications unit in late 2022 to a global electric vehicle automaker to provide advanced connectivity and vehicle positioning solutions that assist driving and parking functions.

This is a new automotive production application of Lear's proprietary Global Navigation Satellite System – a high accuracy vehicle positioning technology – integrated into Lear's 4G/5G telecommunications unit, which connects the vehicle to cloud services and controls diagnostics and communications to and from the vehicle.

Lear's system offers the automaker industry-leading, better than lane-level vehicle position accuracy, supporting the challenging requirements of advanced driver-assistance systems.

"Our global customers are seeking innovative solutions that provide market-leading safety and consumer experiences," said Carl Esposito, Lear Senior Vice President and President, E-Systems. "This award validates our unique value proposition of offering a telecommunications unit integrated with precise vehicle positioning solutions."

Lear's high accuracy vehicle positioning solutions offer:

• Vehicle accuracy up to 10 centimeters (4 inches)
• Global availability, including China, without reliance on local positioning infrastructure
• Modular and flexible software-based solution that doesn't require specialized hardware
• Data optimized corrections service that uses 20 to 30 times less data than competing solutions – substantially reducing operating expenses for automakers
• Robust and predictive solution that mitigates loss of connectivity for up to 15 minutes

"This program award is the result of Lear's unique value proposition – global expertise in connectivity, software, services, and high accuracy vehicle positioning," Esposito said. "We look forward to collaborating with our customer to deliver Lear's market leading connectivity technologies."

About Lear Corporation 
Lear, a global automotive technology leader in Seating and E-Systems, enables superior in-vehicle experiences for consumers around the world. Lear's diverse team of talented employees in 38 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 179 on the Fortune 500. Further information about Lear is available at lear.com or on Twitter @LearCorporation.

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SOURCE Lear Corporation

FAQ

What is Lear Corporation supplying to the global electric vehicle manufacturer?

Lear Corporation is supplying its 4G/5G telecommunications unit for advanced connectivity and vehicle positioning solutions.

When will Lear Corporation begin supplying its telecommunications unit?

Lear Corporation will begin supplying its telecommunications unit in late 2022.

How accurate is Lear's vehicle positioning technology?

Lear's vehicle positioning technology offers accuracy up to 10 centimeters (4 inches).

What are the benefits of Lear's new technology for automakers?

The technology reduces operating expenses by using 20 to 30 times less data than competing solutions and provides robust connectivity.

Which markets will benefit from Lear's vehicle positioning technology?

Lear's technology is globally available, including in China, without reliance on local positioning infrastructure.