VAN BUREN TOWNSHIP, Mich.,
Feb. 25, 2013 /PRNewswire/
-- Visteon Corporation (NYSE: VC) has been awarded a
development and production program for its latest infotainment
system by a major European car manufacturer. With production launch
targeted for the 2015 model year, this program represents the first
market implementation of Visteon's next-generation infotainment
platform in this rapidly growing segment.
Visteon's latest infotainment solution is capable of
multi-device connectivity to deliver apps and features, stream
media, access the Internet and seamlessly integrate both
Cloud-based and local content to drivers and passengers via a
simple and flexible user interface. The system also enables
software updates over the lifetime of the vehicle, further
enhancing value to vehicle manufacturers and the end consumer. This
will be one of the first automotive implementations of an 'open
source' platform and associated applications based on the
requirements of GENIVI®, a non-profit alliance committed
to driving broad adoption of an in-vehicle infotainment open source
development platform.
"This next-generation platform demonstrates Visteon's leadership
in setting the course for the industry in vehicle infotainment,"
said Steve Meszaros, president,
Visteon Electronics. "Bringing the cutting-edge technology of the
consumer electronics world to the vehicle, this new product
fulfills our vision, and that of our customers, to deliver a
superior user experience for the driver and passengers."
With its strong foothold in the market, Visteon is
well-positioned for above-market annual growth in the audio
infotainment segment, which as a whole is projected to grow at an
annual rate of more than 12 percent over the next five years.
Visteon provides connected audio and embedded connectivity
solutions on more than 5 million vehicles annually for global
vehicle manufacturers. Visteon's infotainment range also includes
automotive and content partnerships to deliver an industry-leading
user experience through improved connectivity, human-machine
interaction (HMI) interface and content.
About Visteon
Visteon is a leading global automotive
supplier delivering value for vehicle manufacturers and
shareholders through a family of businesses including:
- Halla Visteon Climate Control, majority-owned by Visteon and
the world's second largest global supplier of automotive climate
components and systems.
- Visteon Electronics, a leading supplier of audio/infotainment,
driver information, center stack electronics and feature control
modules.
- Visteon Interiors, a global provider of vehicle cockpit
modules, instrument panels, consoles and door trim modules.
- Yanfeng Visteon Automotive Trim Systems Co., Ltd., a successful
China-based partnership between
Visteon and Shanghai Automotive Industry Corporation's automotive
components group, Huayu Automotive Systems.
Through this family of enterprises, Visteon designs, engineers
and manufactures innovative components and systems for virtually
every vehicle manufacturer worldwide, and these businesses
generated more than $12 billion in
sales in 2011, including unconsolidated operations. With corporate
offices in Van Buren Township,
Mich. (U.S.); Shanghai,
China; and Chelmsford, UK;
Visteon has facilities in 28 countries and employs through its
various businesses, including unconsolidated operations,
approximately 55,000 people. Learn more at www.visteon.com.
Follow us on Twitter @Visteon (www.twitter.com/visteon) or
subscribe to our YouTube channel at www.youtube.com/visteon.
Forward-looking
Information
This press release contains
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are not guarantees of future results and conditions but
rather are subject to various factors, risks and uncertainties that
could cause our actual results to differ materially from those
expressed in these forward-looking statements, including, but not
limited to: (1) conditions within the automotive industry,
including (i) the automotive vehicle production volumes and
schedules of our customers, (ii) the financial condition of our
customers and the effects of any restructuring or reorganization
plans that may be undertaken by our customers or suppliers,
including work stoppages, and (iii) possible disruptions in the
supply of commodities to us or our customers due to financial
distress, work stoppages, natural disasters or civil unrest; (2)
our ability to satisfy future capital and liquidity requirements;
including our ability to access the credit and capital markets at
the times and in the amounts needed and on terms acceptable to us;
our ability to comply with financial and other covenants in our
credit agreements; and the continuation of acceptable supplier
payment terms; (3) our ability to satisfy pension and other
post-employment benefit obligations; (4) our ability to access
funds generated by foreign subsidiaries and joint ventures on a
timely and cost-effective basis; (5) our ability to execute on our
transformational plans and cost-reduction initiatives in the
amounts and on the timing contemplated; (6) general economic
conditions, including changes in interest rates, currency exchange
rates and fuel prices; (7) the timing and expenses related to
internal restructurings, employee reductions, acquisitions or
dispositions and the effect of pension and other post-employment
benefit obligations; (8) increases in raw material and energy costs
and our ability to offset or recover these costs, increases in our
warranty, product liability and recall costs or the outcome of
legal or regulatory proceedings to which we are or may become a
party; and (9) those factors identified in our filings with the
SEC. Caution should be taken not to place undue
reliance on our forward-looking statements, which represent our
view only as of the date of this release, and which we assume no
obligation to update. New business wins and re-wins do not
represent firm orders or firm commitments from customers, but are
based on various assumptions, including the timing and duration of
product launches, vehicle production levels, customer price
reductions and currency exchange rates.
SOURCE Visteon Corporation