Lear Corp Q2 2021 Earnings Call Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Aileen Elizabeth Smith - BofA Securities, Research Division - Analyst : This is Aileen Smith on for John. I'd like to ask a first question around the semiconductor shortage. Obviously, we heard from one of your major customers earlier this week, and they're really bearing the brunt of downtime in the second half, particularly on the truck side, where you have a lot of content, which is partially a function of them pulling forward some chips but then also COVID outbreaks that are forcing incremental downtime. Given there are some pretty wide indications on the production outlook in the second half of the year, how much of your outlook revision would you say is more attributable to that one major customer of yours versus what's the function of broader industry dynamics and all automakers getting hit to some extent?

Question: Aileen Elizabeth Smith - BofA Securities, Research Division - Analyst : Okay. Great. That's very helpful color. And then I wanted to ask a bigger-picture question, particularly as we think about the government push on EVs with the Biden administration and Europe and China all heating up. I remember an important chart from the E-Systems Day a couple of months ago specifically referencing Lear's broad product capabilities across electrification with high-voltage wiring, connection systems, battery units, battery management systems and others and how it stacked up versus some of your competitors that only offer one or a few of these products to customers. If the focus on EVs from automakers is ramping up in a pretty significant way, are you finding that your broad product portfolio is a key competitive advantage in the bidding process? And are you finding traction for winning multiple products at customers where you can offer a more holistic solution?