Visteon has launched a new business unit to go after the growing telematics and vehicle multimedia components market.
Company executives expect the market to reach $47 billion over the next 20 years.
Visteon has created the business unit out of its navigation, communication, entertainment, in-car computing and audio system operations. Visteon CEO Peter Pestillo said the company has booked almost $550 million in incremental telematics and multimedia business this year.
'It is critical that Visteon create a focused group that can leverage its engineering and technology expertise within this business,' said Pestillo, speaking at the new division's launch.
Visteon, spun off from Ford Motor Co. in June, is the world's second-largest auto parts supplier after Delphi Automotive Systems Corp.
The company said it has obtained contracts to supply telematics components and systems to such non-Ford customers as General Motors, Honda Motor Co. and Nissan Motor Co.
The new division will employ 800 engineers, including 150 in Europe, and will be headed by James Wynalek, vice president and general manager.
Wynalek had led Visteon's engineering processes and advanced technology efforts as the company's chief technical officer.
Doug Sandelbach, formerly director of the Electronic Design Factory at Visteon's Technology office, has been appointed director of the European and South American Bus-iness Unit.
John Slosar, manager of the North American and Asian telematics and multimedia business systems, will be responsible for development of some of the key technologies for the unit, including voice, navigation and satellite-based services.