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MarketScreener Homepage  >  Equities  >  Nyse  >  Lear Corporation    LEA

LEAR CORPORATION (LEA)
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Lear : s EXO Technology Signs Hyundai as its First Development Partner

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01/12/2019 | 03:41am EST

Lear Corporation a global leader in automotive technology, today announced it has signed Hyundai-Kia America Technical Center, Inc. (HATCI) as the first development partner in its EXO Technology Partnership Program.

Lear`s EXO high accuracy vehicle positioning technology is a proprietary Global Navigation Satellite System (GNSS) solution designed to meet the demands of the automotive industry and drive change through increased accuracy, reliability and functional safety in vehicle positioning.

EXO Technology provides best-in-class performance by combining near-instant positioning and high accuracy without the need for base stations, and it does so in some of the most challenging weather and urban canyon environments. The cloud-computing and software-based technology enables the safe deployment of advanced autonomous mobility solutions by working with standard automotive GNSS receivers to deliver fast, centimeter-level accuracy anywhere on the globe.

Beginning in early 2019, HATCI plans to utilize the complete EXO high accuracy vehicle positioning solution, including full access to electronic hardware, on-vehicle sensor fusion software and the cloud-based EXO correction service.

"Lear`s EXO Technology delivers the fastest high-accuracy and globally scalable GNSS vehicle positioning solution purpose-built to meet stringent automotive requirements," said Eric Partington, Vice President, Connectivity at Lear. "The partnership between Lear and HATCI enables advanced safety and autonomous mobility applications utilizing Lear`s proprietary EXO vehicle positioning technology."

The EXO Technology Partnership Program is a collaborative effort between Lear, OEMs and other ecosystem players that provides a full automotive grade solution for V2X and Level 2/3 autonomous driving features. Lear expects to welcome more innovation development partnerships throughout 2019.

(c) 2003-2019 Mehr News Agency Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2018 21 191 M
EBIT 2018 1 746 M
Net income 2018 1 203 M
Debt 2018 446 M
Yield 2018 1,77%
P/E ratio 2018 8,23
P/E ratio 2019 7,75
EV / Sales 2018 0,46x
EV / Sales 2019 0,46x
Capitalization 9 406 M
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Number of Analysts 18
Average target price 171 $
Spread / Average Target 16%
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Managers
NameTitle
Raymond E. Scott President, Chief Executive Officer & Director
Henry D. G. Wallace Non-Executive Chairman
Jeffrey H. Vanneste Chief Financial Officer & Senior Vice President
John Absmeier Chief Technology Officer
Conrad L. Mallett Independent Director
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