PREMO & Lear Corp. Form Joint Development Agreement for Design & Integration of Inductive Components for Hybrid Vehicle Power Systems
Lear Corp. and PREMO announced the formation of an agreement for the design and development of inductive components and technology for automotive power electronics applications for hybrid vehicles.
"We are very pleased to be working with PREMO, a global player across multiple industries, which has proven to be a leader in inductive components development and manufacturing" said Glenn Denomme, VP Global Hybrid & EV Systems Eng. "With PREMO, we have a well-known and well-respected supplier in the automotive industry and provide us with an experienced and strong partner in the field of inductive components".
"We’re excited to partner with LEAR, a recognized world leader in the automotive power electronics design and manufacturing. We are convinced that together we will make this joint venture a success that both partners will notably benefit from" said Jorge Hermoso, Global Sales Director. "PREMO is committed to developing magnetics and EMC filters for hybrid vehicle systems as chargers, converters, battery management and any kind of system related to power electronics for the automotive industry. The increasing hybrid vehicles market is an important focus for us, and a key part of our business strategy".
According to the companies, the cooperation will generate a powerful joint of know-how and experience in the automotive sector from the supplier (tier ones) point of view. Three different production facilities (Spain, Tangier and China) and about 800 people together develop and manufacture more than 8 millions complete electronic modules and 80 millions of inductive components. These are delivered to 80 countries globally to 50 different companies: automotive manufacturers, tier ones and secondary suppliers. Due to this, the new green cars projects coming from the big automotive manufacturers will find LEAR and PREMO as the best partners to get solutions for the new environmental challenges.
PREMO states that it is deeply involved in different platforms for the manufacturing of inductive components for battery chargers. The production for Daimler EV Smart which is planned to be launch in 2010 will be the beginning of many others which are currently under development. PREMO forecasts to triple its sales volume in the next 4 years due to the new projects for HEV Vehicles Power Converters. LEAR estimates in 5000 million dollars the electrics and hybrids vehicles power electronics applications market size.