EDITORIAL – Investments in connectivity and electrification technologies to drive growth of Lear’s E-Systems business
Industry trends such as electrification and connectivity will offer Lear’s E-Systems business better growth opportunity than its Seating business
Last week, Lear held an ‘Investor Day’ event in Michigan (United States) outlining its future growth strategy for the next five years. The company forecasts its sales to grow at a compound annual growth rate (CAGR) of around 7% to USD30 billion by 2023, compared with USD22 billion expected this year. Interestingly, Lear expects its much smaller E-Systems business to grow at faster rate than its Seating business, which drove its financial performance in the past five years.
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