Lear Corp (NYSE: LEA) has been chosen by General Motors Co (NYSE: GM) to supply key electrification technologies for the automaker's Ultium global electric vehicle platform. The financial terms were not disclosed.
The technologies Lear will provide include, Battery Disconnect Units (BDU), Intercell Connect Boards (ICB), and Wire Harnesses.
"We are honored to have been selected to provide technologies to support GM's vision for a zero-emissions future," said Ray Scott, Lear's President, and CEO.
"Lear's unique electrification engineering knowledge and molding and precision stamping capabilities, combined with our strategically located manufacturing facilities, perfectly positioned Lear to win this new business, which includes the largest award to date for our Connection Systems business," Scott added.
Lear manufactures automotive seating and automotive electrical systems.
Price Action: LEA shares are trading lower by 1.38% at $137.51 on the last check Wednesday.
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