Gentherm Receives First Production Vehicle Award for its Puls.A™ Technology
June 04 2024 - 4:40PM
Gentherm (NASDAQ: THRM), the global market leader of
innovative thermal management and pneumatic comfort technologies
for the automotive industry and a leader in medical patient
temperature management systems, today announced that the Company
has received its first production vehicle award for its
Puls.A™ technology on a future Hyundai Genesis full-size SUV.
Gentherm’s proprietary Puls.A massage solution is the world’s
first pneumatic system that uses precision micro air pressure
bursts to deliver a deep pulsating massage. The technology can
stimulate muscles, help alleviate pain and tension, and counteract
poor posture. The Puls.A modular system is designed for
customization and seamlessly integrates massage pulsation into
existing systems and is designed for over-the-air (OTA) feature
upgrades.
“Positioned at the intersection of health, wellness, and
comfort, Gentherm's Puls.A massage technology is carving out
expansive opportunities for our customers to craft unparalleled
experiences that promote health and wellness, enhance alertness,
and support physical recovery within the vehicle,” said Phil Eyler,
President and CEO of Gentherm. “We are thrilled about our initial
production award for Puls.A and anticipate a continued trajectory
of growth for our pneumatic solutions alongside our customers.”
Investor Contact Gregory Blanchette
investors@gentherm.com248.308.1702
Media Contact Melissa
Fischer media@gentherm.com248.289.9702
About Gentherm Gentherm (NASDAQ:
THRM) is the global market leader of innovative thermal management
and pneumatic comfort technologies for the automotive industry and
a leader in medical patient temperature management systems.
Automotive products include variable temperature Climate Control
Seats, heated automotive interior systems (including heated seats,
steering wheels, armrests and other components), battery
performance solutions, cable systems, lumbar and massage comfort
solutions, valve system technologies, and other electronic devices.
Medical products include patient temperature management systems.
The Company is also developing a number of new technologies and
products that will help enable improvements to existing products
and to create new product applications for existing and new
markets. Gentherm has more than 14,000 employees in
facilities in the United States, Germany, China, Czech
Republic, Hungary, Japan, Malta, Mexico, Morocco, North
Macedonia, South Korea, United Kingdom, Ukraine,
and Vietnam. For more information, go
to www.gentherm.com.
Forward-Looking Statements Except for
historical information contained herein, statements in this release
are forward-looking statements that are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements represent Gentherm
Incorporated's goals, beliefs, plans and expectations about its
prospects for the future and other future events. The
forward-looking statements included in this release are made as of
the date hereof or as of the date specified herein and are based on
management's reasonable expectations and beliefs. In making these
statements we rely on assumptions and analysis based on our
experience and perception of historical trends, current conditions
and expected future developments, as well as other factors we
consider appropriate under the circumstances. Such statements are
subject to a number of important assumptions, significant risks and
uncertainties (some of which are beyond our control) and other
factors that may cause actual results or performance to differ
materially from that described in or indicated by the
forward-looking statements, including but not limited to:
- macroeconomic, geopolitical and similar global factors in the
cyclical Automotive industry;
- increasing U.S. and global competition, including with
non-traditional entrants;
- our ability to effectively manage new product launches and
research and development, and the market acceptance of such
products and technologies;
- the evolution and recent challenges of the automotive industry
towards electric vehicles, autonomous vehicles and mobility on
demand services, and related consumer behaviors and
preferences;
- our ability to convert automotive new business awards into
product revenues;
- the recent supply-constrained environment, and inflationary and
other cost pressures;
- the production levels of our major customers and OEMs in our
key markets and sudden fluctuations in such production levels;
- our ability to attract and retain highly skilled employees and
wage inflation;
- a tightening labor market, labor shortages or work stoppages
impacting us, our customers or our suppliers, such as recent labor
strikes among certain OEMs and suppliers;
- our achievement of product cost reductions to offset
customer-imposed price reductions or other pricing pressures;
- our product quality and safety and impact of product safety
recalls and alleged defects in products;
- our ability to integrate our recent acquisitions and realize
synergies, as well as to consummate additional strategic
acquisitions, investments and exits, and achieve planned
benefits;
- any security breaches and other disruptions to our information
technology networks and systems, as well as privacy, data security
and data protection risks;
- the impact of our global operations, including our global
supply chain, operations within Ukraine, economic and trade
policies, and foreign currency and exchange risk;
- any loss or insolvency of our key customers and OEMs, or key
suppliers;
- our efforts to optimize our global supply chain and
manufacturing footprint;
- our ability to project future sales volume based on third-party
information, based on which we manage our business;
- the protection of our intellectual property in certain
jurisdictions;
- our compliance with anti-corruption laws and regulations;
- legal and regulatory proceedings and claims involving us or one
of our major customers;
- the extensive regulation of our patient temperature management
business;
- risks associated with our manufacturing processes;
- the effects of climate change and catastrophic events, as well
as regulatory and stakeholder-imposed requirements to address
climate change and other sustainability issues;
- our product quality and safety;
- our borrowing availability under our revolving credit facility,
as well ability to access the capital markets, to support our
planned growth; and
- our indebtedness and compliance with our debt covenants.
The foregoing risks should be read in conjunction with the
Company's reports filed with or furnished to the Securities and
Exchange Commission (the “SEC”), including “Risk Factors,” in its
most recent Annual Report on Form 10-K and subsequent SEC filings,
for a discussion of these and other risks and uncertainties. In
addition, with reasonable frequency, we have entered into business
combinations, acquisitions, divestitures, strategic investments and
other significant transactions. Such forward-looking statements do
not include the potential impact of any such transactions that may
be completed after the date hereof, each of which may present
material risks to the Company’s future business and financial
results.
Except as required by law, the Company expressly disclaims any
obligation or undertaking to update any forward-looking statements
to reflect any change in its expectations with regard thereto or
any change in events, conditions or circumstances on which any such
statement is based.
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