Lear Corporation, a global automotive technology leader, has launched Lear Innovation Ventures (LIV) Possibilities, led by its chief technology officer, John Absmeier. LIV Possibilities is the framework underlying Lear’s focus on product, process, and business model innovation and aligns with Lear’s corporate mantra of ‘Where Passion Drives Possibilities’.

Lear will invest in advanced development teams, partnerships, and early stage technologies by working with venture capital firms, accelerators, and incubators; providing direct capital to start-ups and internal innovation initiatives, said a press release by the company.

“Lear is driving progressive change in our company and the industry by creating intelligent technologies and products that meet future mobility trends,” said Absmeier. “Lear is committed to a systematic process of innovation that aligns with increasing consumer demands for new intelligent and environmentally friendly technologies, a safer driving experience, a better user experience, and seamless connectivity. We are hyper-focused on intensifying our activities around the autonomous, connected, electrified and shared mobility trends.”

“We are well positioned through our diverse product portfolio and strong financial discipline to separate ourselves from our competitors, even in challenging times,” said Ray Scott, Lear president and CEO. “This combination is a great foundation for the development of LIV Possibilities. I look forward to the next level of partnerships and innovations that we will see as a result.” (PC)