{"id":540794,"date":"2021-09-22T03:34:05","date_gmt":"2021-09-22T07:34:05","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/lear-signs-agreement-for-joint-venture-with-hu-lane-for-connector-products\/"},"modified":"2021-09-22T03:34:05","modified_gmt":"2021-09-22T07:34:05","slug":"lear-signs-agreement-for-joint-venture-with-hu-lane-for-connector-products","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lear-signs-agreement-for-joint-venture-with-hu-lane-for-connector-products\/","title":{"rendered":"Lear Signs Agreement for Joint Venture with Hu Lane for Connector Products"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">Joint venture to expand global offering of competitive connection systems portfolio, offering automakers harness architecture components with operations based in China<\/h2>\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">SOUTHFIELD, Mich.<\/span>, <span class=\"xn-chron\">Sept. 22, 2021<\/span> \/PRNewswire\/ &#8212; Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today announced it has signed a definitive agreement for a joint venture with Hu Lane Associate Inc. (TPEX: 6279), a listed company on the <span class=\"xn-location\">Taipei<\/span> stock market and a manufacturer of world-class automotive connector products.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/460765\/lear_corporation_logo.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/460765\/lear_corporation_logo.jpg\" title=\"Lear Corporation Logo. (PRNewsFoto\/Lear Corporation) (PRNewsfoto\/Lear Corporation)\" alt=\"Lear Corporation Logo. (PRNewsFoto\/Lear Corporation) (PRNewsfoto\/Lear Corporation)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>Assuming expected regulatory approvals are obtained, the joint venture will be based initially in Yangzhou, <span class=\"xn-location\">China<\/span>. It will immediately expand Lear&#8217;s vertical integration capabilities to engineer and produce a portfolio of connection systems products for current and future vehicle architectures offered by global automotive manufacturers.<\/p>\n<p>&#8220;We identified this joint venture as a way to support Lear&#8217;s profitable growth initiatives in connection systems and increase competitiveness in our wire harness business,&#8221; said <span class=\"xn-person\">Enrique Orta<\/span>, Lear Global Vice President, Connection Systems. &#8220;Partnering with <span class=\"xn-person\">Hu Lane<\/span> presents an exciting opportunity to bring together our unique strengths of scalable manufacturing capabilities, achieve cost savings and co-develop new products to supply our customers with innovative, reliable and cost-competitive connection systems solutions.&#8221;<\/p>\n<p>Founded in 1977, Hu Lane possesses decades of extensive technical experience, a seasoned management team and multiple sales offices throughout southeast <span class=\"xn-location\">Asia<\/span>. It operates best-cost manufacturing operations in <span class=\"xn-location\">Nanjing<\/span> and <span class=\"xn-location\">Dongguan, China<\/span>, and in <span class=\"xn-location\">Hanoi, Vietnam<\/span>.<\/p>\n<p>&#8220;The cooperation between the two parties will enhance <span class=\"xn-person\">Hu Lane&#8217;s<\/span> market position in the field of automotive connectors, and optimize our existing products and technological innovation capabilities,&#8221; said <span class=\"xn-person\">Chang Zhi<\/span>-hsiung, <span class=\"xn-person\">Hu Lane<\/span> Chairman. &#8220;Through industrial vertical integration, <span class=\"xn-person\">Hu Lane&#8217;s<\/span> connector parts supply international automakers. Lear and <span class=\"xn-person\">Hu Lane<\/span> complement each other and together are a world-class product supplier that provides a high quality and value proposition.&#8221;\u00a0<\/p>\n<p>Lear and <span class=\"xn-person\">Hu Lane<\/span> anticipate regulatory approval and the joint venture management to be appointed during the fourth quarter 2021.\u00a0Lear will own a majority equity interest in the joint venture and will consolidate its financial results. <\/p>\n<p>&#8220;This joint venture will continue building our robust pipeline of high quality, innovative products by leveraging <span class=\"xn-person\">Hu Lane&#8217;s<\/span> existing portfolio of connector system products with Lear&#8217;s electrical architecture programs and established relationships with global automotive manufacturers,&#8221; said Sng Yih, Lear Asia E-Systems Vice President.\u00a0<\/p>\n<p>\n        <b>Forward-Looking Statements<\/b>\n      <\/p>\n<p>The forward-looking statements in this press release are made as of the date hereof, and the Company does not assume any obligation to update, amend or clarify them to reflect events, new information or circumstances occurring after the date hereof.<\/p>\n<p>\n        <b>About Lear Corporation\u00a0<br \/><\/b>Lear, a global automotive technology leader in Seating and E-Systems, enables superior in-vehicle experiences for consumers around the world. Lear&#8217;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\u2122 by providing the technology for safer, smarter, and more comfortable journeys. Lear, headquartered in <span class=\"xn-location\">Southfield, Michigan<\/span>, serves every major automaker in the world and ranks 179 on the Fortune 500. Further information about Lear is available at\u00a0<u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3298101-1&amp;h=3806409001&amp;u=https%3A%2F%2Fwww.lear.com%2F&amp;a=lear.com\" rel=\"nofollow noopener\">lear.com<\/a><\/u>\u00a0or on\u00a0<u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3298101-1&amp;h=56012827&amp;u=https%3A%2F%2Ftwitter.com%2Flearcorporation&amp;a=Twitter+%40LearCorporation\" rel=\"nofollow noopener\">Twitter @LearCorporation<\/a><\/u>.<\/p>\n<p>\n        <b>About <span class=\"xn-person\">Hu Lane<\/span><br \/><\/b>Hu Lane\u00a0has decades of technical experience and an efficient sales and service. It has sales teams in <span class=\"xn-location\">Europe<\/span>, <span class=\"xn-location\">the United States<\/span>, <span class=\"xn-location\">Greater China<\/span> and <span class=\"xn-location\">Southeast Asia<\/span>, and has cost-competitive production bases in <span class=\"xn-location\">Nanjing<\/span> and <span class=\"xn-location\">Dongguan, China<\/span>; and <span class=\"xn-location\">Vietnam<\/span>, and <span class=\"xn-location\">Indonesia<\/span>. In the field of EV and HSD connectors, <span class=\"xn-person\">Hu Lane<\/span> adheres to the business philosophy of &#8220;integrity and pragmatism&#8221;; the entrepreneurial spirit of &#8220;teamwork, courage to challenge, and pursuit of excellence&#8221; provides high-quality connector products to satisfy customers. It is expected that we will strive to achieve &#8220;Auto World, We connect&#8221; through innovation and change. For more information about <span class=\"xn-person\">Hu Lane<\/span>, please visit <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3298101-1&amp;h=2463101146&amp;u=http%3A%2F%2Fwww.hulane.com.tw%2Ftc%2Findex.asp&amp;a=Hu+Lane.com.tw\" rel=\"nofollow noopener\"><span class=\"xn-person\">Hu Lane<\/span>.com.tw<\/a><\/u>.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DE14369&amp;sd=2021-09-22\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow noopener\" href=\"https:\/\/www.prnewswire.com\/news-releases\/lear-signs-agreement-for-joint-venture-with-hu-lane-for-connector-products-301382273.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/lear-signs-agreement-for-joint-venture-with-hu-lane-for-connector-products-301382273.html<\/a><\/p>\n<p>SOURCE  Lear Corporation<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=DE14369&amp;Transmission_Id=202109220331PR_NEWS_USPR_____DE14369&amp;DateId=20210922\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Joint venture to expand global offering of competitive connection systems portfolio, offering automakers harness architecture components with operations based in China PR Newswire SOUTHFIELD, Mich., Sept. 22, 2021 \/PRNewswire\/ &#8212; Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today announced it has signed a definitive agreement for a joint venture with Hu Lane Associate Inc. (TPEX: 6279), a listed company on the Taipei stock market and a manufacturer of world-class automotive connector products. Assuming expected regulatory approvals are obtained, the joint venture will be based initially in Yangzhou, China. It will immediately expand Lear&#8217;s vertical integration capabilities to engineer and produce a portfolio of connection systems products for current and future vehicle architectures offered by &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lear-signs-agreement-for-joint-venture-with-hu-lane-for-connector-products\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Lear Signs Agreement for Joint Venture with Hu Lane for Connector Products&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-540794","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Lear Signs Agreement for Joint Venture with Hu Lane for Connector Products - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lear-signs-agreement-for-joint-venture-with-hu-lane-for-connector-products\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lear Signs Agreement for Joint Venture with Hu Lane for Connector Products - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Joint venture to expand global offering of competitive connection systems portfolio, offering automakers harness architecture components with operations based in China PR Newswire SOUTHFIELD, Mich., Sept. 22, 2021 \/PRNewswire\/ &#8212; Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today announced it has signed a definitive agreement for a joint venture with Hu Lane Associate Inc. (TPEX: 6279), a listed company on the Taipei stock market and a manufacturer of world-class automotive connector products. Assuming expected regulatory approvals are obtained, the joint venture will be based initially in Yangzhou, China. It will immediately expand Lear&#8217;s vertical integration capabilities to engineer and produce a portfolio of connection systems products for current and future vehicle architectures offered by &hellip; Continue reading &quot;Lear Signs Agreement for Joint Venture with Hu Lane for Connector Products&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/lear-signs-agreement-for-joint-venture-with-hu-lane-for-connector-products\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-22T07:34:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/460765\/lear_corporation_logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lear-signs-agreement-for-joint-venture-with-hu-lane-for-connector-products\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lear-signs-agreement-for-joint-venture-with-hu-lane-for-connector-products\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Lear Signs Agreement for Joint Venture with Hu Lane for Connector Products\",\"datePublished\":\"2021-09-22T07:34:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lear-signs-agreement-for-joint-venture-with-hu-lane-for-connector-products\\\/\"},\"wordCount\":641,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lear-signs-agreement-for-joint-venture-with-hu-lane-for-connector-products\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/460765\\\/lear_corporation_logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lear-signs-agreement-for-joint-venture-with-hu-lane-for-connector-products\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lear-signs-agreement-for-joint-venture-with-hu-lane-for-connector-products\\\/\",\"name\":\"Lear Signs Agreement for Joint Venture with Hu Lane for Connector Products - 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(TPEX: 6279), a listed company on the Taipei stock market and a manufacturer of world-class automotive connector products. Assuming expected regulatory approvals are obtained, the joint venture will be based initially in Yangzhou, China. It will immediately expand Lear&#8217;s vertical integration capabilities to engineer and produce a portfolio of connection systems products for current and future vehicle architectures offered by &hellip; Continue reading \"Lear Signs Agreement for Joint Venture with Hu Lane for Connector Products\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/lear-signs-agreement-for-joint-venture-with-hu-lane-for-connector-products\/","og_site_name":"Market Newsdesk","article_published_time":"2021-09-22T07:34:05+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/460765\/lear_corporation_logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lear-signs-agreement-for-joint-venture-with-hu-lane-for-connector-products\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lear-signs-agreement-for-joint-venture-with-hu-lane-for-connector-products\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Lear Signs Agreement for Joint Venture with Hu Lane for Connector Products","datePublished":"2021-09-22T07:34:05+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lear-signs-agreement-for-joint-venture-with-hu-lane-for-connector-products\/"},"wordCount":641,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lear-signs-agreement-for-joint-venture-with-hu-lane-for-connector-products\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/460765\/lear_corporation_logo.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lear-signs-agreement-for-joint-venture-with-hu-lane-for-connector-products\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/lear-signs-agreement-for-joint-venture-with-hu-lane-for-connector-products\/","name":"Lear Signs Agreement for Joint Venture with Hu Lane for Connector Products - 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