Lear Corporation has opened its new Asia corporate headquarters and regional Product and Technology Centre in the Yangpu District of Shanghai.
The expansion of Lear’s administrative infrastructure, engineering capability and product innovation resources in a central Shanghai location will allow the company to continue its sales growth and development of new business in Asia and China, said the supplier.
Go deeper with GlobalData
“The Asia-Pacific region is Lear’s fastest growing market in the world and the expansion of our administrative and technical capabilities in Shanghai will support continued growth in this region,” said Matt Simoncini, Lear president and CEO.
“China, which is our largest market in Asia, is now the largest automotive producing region in the world. Over the past three years, Lear’s sales in China have grown at an average annual rate of 24%, three times faster than industry production.”
