Xevo

About Xevo

Xevo, a subsidiary of Lear Corporation, operates as a Tier-1 automotive software supplier specializing in connected-car technology and data-driven user experiences. The company's history dates back to 2000 when it was founded as UIEvolution by Satoshi Nakajima, an architect behind Microsoft products like Windows 95. A significant milestone occurred in 2016 when UIEvolution acquired the machine learning startup Surround.io and rebranded to Xevo, signaling a deeper focus on integrating artificial intelligence and computer vision into the automotive industry. The journey culminated in April 2019 when Lear Corporation acquired Xevo for approximately $320 million, integrating Xevo's platform with Lear's expertise in automotive electrical systems.

The company's business model centers on licensing its software solutions to automotive original equipment manufacturers (OEMs). This creates new monetization channels for automakers and merchant partners by transforming the vehicle into a commerce-enabled environment. Xevo's primary clients are large automotive manufacturers who embed the technology directly into their vehicle infotainment systems. By leveraging real-time vehicle data, cloud analytics, and machine learning, Xevo provides a platform that connects drivers to a network of brands and services.

Xevo's core product offering is a suite of software that enhances the in-vehicle experience. This includes the flagship Xevo Market, an automotive commerce and services platform that allows drivers to interact with and transact with brands for food, fuel, parking, and retail directly from their vehicle's touchscreen. Another key product, Journeyware, provides the underlying framework that connects the car, cloud, and mobile devices, enabling a personalized and seamless digital experience for the driver. This technology is designed to improve driver safety and performance by utilizing AI to deliver contextual offers and information. In 2021, Xevo announced a partnership with Cerence to integrate conversational AI and contactless payment capabilities into the Xevo Market platform. This allows for voice-activated transactions, further simplifying the in-car commerce experience.