HARMAN, the premium global audio and infotainment group (NYSE:HAR),
announced today that it has finalized multi-year agreements with three
leading domestic automakers in China and India to feature the Company's
branded audio and infotainment systems. The combined business, awarded
by Geely Motors and BAIC Motors of China and Tata Motors of India,
represents a record total of more than US$500M.
"These new awards further validate our strategic focus and aggressive
investments in the high-growth emerging markets," said Dinesh C.
Paliwal, HARMAN Chairman, President and CEO. "Over the last four years,
we have built three world class manufacturing plants, four engineering
and two R&D centers in China and India and employ 2000 people there.
Chinese and Indian customers are increasingly becoming more discerning
and demand the latest in technology. With our global reach, systems and
connectivity expertise, and our unparalleled innovation, we will create
cutting edge audio and infotainment experience for every passenger. We
are honored that these prominent Asian automakers have selected HARMAN
as a partner to help meet the growing demands from their customers."
Geely Motors, a leading Chinese automaker and parent company of Volvo
Cars, has selected HARMAN to develop an audio and infotainment system
for its upcoming luxury sedan, and an infotainment platform for its new
mid-sized luxury SUV. The new orders extend an earlier branded audio
award from Geely, and mark the first time HARMAN will provide
infotainment systems to the automaker.
China's BAIC Motors has also tapped HARMAN to provide a premium JBL
branded audio system and infotainment solution for a new full-sized
luxury sedan debuting in 2013. The two companies will work closely to
develop a platform based on HARMAN's scalable, next-generation software
architecture that is readily adaptable to new future vehicles. The
agreement is HARMAN's first with BAIC.
Tata Motors, India's leading automotive company and parent company of
Jaguar Land Rover, has selected HARMAN to develop a branded audio and
infotainment strategy for vehicles across Tata's new vehicle range. The
agreement is HARMAN's first with Tata, and marks the first time an
Indian automaker will bring premium branded audio and infotainment
systems to the domestic market.
HARMAN is the leading supplier of advanced connectivity, infotainment,
and audio to the global automakers, including Audi, BMW, Chrysler, FIAT,
Ferrari, SGM, Hyundai, Kia, Lexus, Land Rover, Mercedes Benz, Porsche,
Toyota, and Volkswagen. The new agreements were announced in conjunction
with the Beijing Auto Show, and follows new HARMAN business awards from
six different Chinese automakers in the past year.
HARMAN is well on-track to deliver US$1.5B in revenues by 2015 in the
BRIC countries, where sales increased by 32 percent during the most
recent fiscal quarter. The Company's employment in China and India has
doubled during the past year. The Company has opened HARMAN Flagship
Stores in Shanghai and Beijing to showcase its brands, and recently
opened its newest engineering and manufacturing center in the Northern
Chinese city of Dandong. HARMAN also operates R&D and manufacturing
facilities in Shanghai, Suzhou, Shenzhen, and Bangalore.
designs, manufactures and markets a wide range of audio and infotainment
solutions for the automotive, consumer and professional markets -
supported by 15 leading brands, including AKG®, Harman Kardon®,
Infinity®, JBL®, Lexicon® and Mark
Levinson®. The Company is admired by audiophiles across
multiple generations and supports leading professional entertainers and
the venues where they perform. More than 25 million automobiles on the
road today are equipped with HARMAN audio and infotainment systems.
HARMAN has a workforce of about 13,000 people across the Americas,
Europe and Asia, and reported net sales of $4.2 billion for the twelve
months ending December 31, 2011. The Company's shares are traded on the
New York Stock Exchange under the symbol NYSE:HAR.
© 2012 HARMAN International Industries, Incorporated. All rights
reserved. Harman Kardon, Infinity, JBL, Lexicon and Mark Levinson are
trademarks of HARMAN International Industries, Incorporated, registered
in the United States and/or other countries. AKG is a trademark of AKG
Acoustics GmbH, registered in the United States and/or other countries.
George Yang, +86 21 2306 4680
Affairs and Communications Asia
Shewchuk, +1 203-328-3834
Director, Corporate Communications
Lardon, +1 203-328-3500
Vice President, Investor Relations