Believe me or not, but this was my domain of working in the past (till 3 or 4 years ago), and I don't know all the abbreviations either. That's why I hate abbreviations, they grow to a point that even an expert doesn't understand a whole sentence!
FMEA means Failure Modes and Effects Analysis, and the more advanced version is FMECA, where the C stands for "Causes".
It is a technique to document the consequences and gravity of the failure of a component of a system. The word "Mode" stands for all possible failure patterns. For instance a switch can fail in different ways: get's stuck, get's short circuited, doesn't make any contact anymore, or bad contact (with as effect heating up!), etc. All leading to different consequences (effects). This is a quite good Quality Management tool, like RCM (Reliabilty Centred Maintenance), but very time consuming.
The Q stands for Quality: that means they are aware they have still a lot of Quality problems
KPI is Key Performance Indicator.
mLean, I don't know what the "m" stands for, but Lean is also a Quality Management Technique, to simplify manufacturing processes, shorten times and distances, or removing unnecessary steps.
All very complicated words and techniques, sold by consultants, but in fact very simple to implement. The only problem is you should choose a methodology and stick to it a quite long time, consistently, day by day, to see results.
And, each management change, means usually throwing away the former system, and starting all over again, with for instance RCM instead of FMECA.
I liked my job, but I was fed up by the "short term" vision of higher management and continuous strategical changes, therefore I was happy to stop.
And yes: this should be the goal, but till now I didn't experience that we are at the centre of Ineos Automotive focus.