Suppliers in the New Normal
Sometimes challenges bring opportunities. Sometimes challenges are—challenges
Gary S. Vasilash
Editor-in-Chief, AutoBeat Group
The Industry in the Time of COVID-19
Getting down was fast. Getting back is hard
COVID-19’s Impact on Suppliers: Bankruptcy and Restructuring
The crisis of COVID-19 is exposing structural issues that were already under pressure from the looming juggernauts of electrification, autonomy, shared mobility and connectedness.
13 Suppliers Take Home PACE Innovation Awards
Lightweighting applications to advanced communications and improved visibility
Lear’s “Safe Playbook” for Reopening Plants
Step-by-step guidelines, checklists, flowcharts and protocols on how to get back to work
Adient Refocuses on Core Seating Business
Restructures joint ventures with Yanfeng, divests Recaro unit
Hyundai, Renault and Volvo Invest in Cybersecurity Firm
Israel’s Upstream Security, a startup that specializes in cybersecurity systems for connected vehicles, says it has received $30 million in Series B funding.
FCA Adds Uconnect Market: Shopping on the Road
While there are several people who are concerned that their car will be hacked in a way analogous to that executed by researchers Charlie Miller and Chris Valasek of a reporter’s Jeep Cherokee for an article in Wired, let’s face it: he was a reporter for Wired who was writing about what those guys could do, not some random person who was on their way to work.
Gary S. Vasilash
Editor-in-Chief, AutoBeat Group
Lear Taps Aerospace Exec to Head E-Systems Unit
Lear Corp. has appointed Carl Esposito, who most recently lead the electronics arm of Honeywell International Inc.’s aerospace business, as president of Lear’s E-Systems division, effective Sept. 3.
Lear Trims Outlook
Second-quarter sales and earnings fell for seating supplier Lear Corp., as vehicle production slowed in all its major markets.
Lear Cuts Outlook for 2019
Vehicle seating supplier Lear Corp. has cut its full-year revenue and net income forecasts by $1 billion and more than $200 million, respectively.
FCA Launches Telematics Services Platform
Fiat Chrysler Automobiles NV is updating its Uconnect infotainment and telematics system so users can access third-party service providers.
Four Suppliers Win GM Innovation Awards
General Motors Co. recognized four suppliers—BorgWarner, Continental Structural Plastics (CSP), Innolux and Multimatic—for product innovation as part of the company’s Supplier of the Year awards.
Tenneco Powertrain Nabs 2 PACE Innovation Awards
The winners of this year’s PACE Awards (Premier Automotive Suppliers’ Contribution to Excellence) for innovation consisted of 13 suppliers from around the world.
Auto vs. Tech: Guess Who Wins
Matthew Simoncini, president and CEO of Lear Corp., provided some fairly compelling figures this week at the CAR Management Briefing Seminars that show just how out-of-whack the valuations of tech companies are vis-à-vis auto companies.
Gary S. Vasilash
Editor-in-Chief, AutoBeat Group
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Report: Hyundai, Tencent Partner on Software for Autonomy
Hyundai Motor Co. and China’s Tencent Holdings Ltd. have tentatively agreed to co-develop software for self-driving vehicles, sources tell South Korea’s Maeil business daily.
Lear Buys Telematics Software Company
Lear Corp. has agreed to acquire Xevo Inc., a Seattle-based software supplier of telematics systems, for $320 million.
Lear Invests in Israeli Advanced Mobility Fund
Lear Corp. has made an unspecified investment in Maniv Mobility, an Israel-based venture capital fund that specializes in advanced mobility technology.
Canadian Labor Board Rules Unifor Strikes Against GM Unlawful
Union walkouts to protest General Motors Co.’s plan to close its assembly plant in Oshawa, Ont., were unlawful, the Ontario Labor Relations Board has ruled.
Lear’s Quarterly Net Income Drops 47%
Lear Corp. says a decline in global vehicle output caused its fourth-quarter revenue and net income to fall 8% to $4.9 billion and 47% to $212 million, respectively.
Lear, Hyundai-Kia to Develop Advanced Positioning Tech
Lear Corp. has signed a development agreement for its new EXO Technology vehicle positioning technology with Hyundai Motor Co. and its Kia Motors Corp. affiliate.
Detroit Grand Prix to Stay on Belle Isle
Organizers of the Detroit Grand Prix and the Michigan Dept. of Natural Resources have signed an agreement to keep the IndyCar Series race on Belle Isle through at least 2021.
Former Lear CEO Joins Cooper-Standard Board
Matt Simoncini, who retired last November as CEO of Lear Corp., will join Cooper-Standard Holdings Inc.’s board of directors on Aug. 1.
Lear’s Adjusted Profits Up 8%
Seating and electronics supplier Lear Corp.’s adjusted net income rose 8% to $331 million in the second quarter as revenue grew 9% to $5.6 billion.
Lear Hires Absmeier as Chief Tech Officer
Lear Corp. has appointed John Absmeier to the newly created position of chief technology officer, effective June 18.
Lear, Unifor Reach New Tentative Deal on Seating Plant
Lear Corp. and Canadian union Unifor have reached a second tentative contract for the supplier’s seating plant in Ajax, Ont.
Lear to Close Canada Plant Where Workers Rejected Contract
Lear Corp. says it will shut down its Canadian seating plant in Ajax, Ont., after 94% of workers there rejected a tentative contract reached earlier with their Unifor union.
