Shanghai, China -- Lear Corporation has opened a corporate HQ and a Product and Technology Center to develop its range of automotive seating in the Yangpu district of Shanghai in China.
A Lear press release said the company was looking to increase its engineering capability and product innovation resources in a central Shanghai location to allow “continued rapid sales growth and the development of new business in Asia and China.”
Lear's president and ceo Matt Simoncini said: "The Asia-Pacific region is Lear's fastest growing market in the world and the expansion of our administrative and technical capabilities will support continued growth in this region.”
He added that Lear's sales in China grew at an average annual rate of 24% - three times faster than industry production
The 600-staff HQ will support around 21,000 employees across eleven Asian countries, over half in China.