By: AUTOMOTIVE NEWS CHINA
March 27, 2014
SHANGHAI — Lear Corp. opened its new Asian headquarters and regional technical center March 12 to support its fast-growing business in the region.
The headquarters will support 21,000 employees in 11 countries, including almost 11,000 in China, Lear officials said.
Lear, based in Southfield, Mich., produces auto seats and electrical distribution systems. The Shanghai facility will support R&D for both product groups.
Lear has 60 factories and 10 technical centers in Asia. Of those facilities, 36 plants and two engineering centers are in China.
Asia is Lear's fastest growing region, with sales of $4.5 billion last year.
Over the past three years, Lear's sales in China have grown at an average annual rate of 24 percent, said Lear CEO Matt Simoncini.
He expects his company's China sales to maintain more than 20 percent growth during the next few years.