HARMAN (HAR) Enters $500M of New Agreements in India, China

HARMAN (NYSE: HAR) 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.

From the release:

• 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.

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