This paper discusses the merits and challenges of adopting software product line engineering (SPLE) as the main development process for an automotive Hall Effect sensor. This versatile component is integrated into a number of automotive applications with varying safety requirements (e.g., windshield wipers and brake pedals). This paper provides a detailed explanation as to why the process of safety assessment and verification of the Hall Effect sensor is currently cumbersome and repetitive:~it must be repeated entirely for every automotive application in which the sensor is to be used. In addition, no support is given to the engineer to select and configure the appropriate safety solutions and to explain the safety implications of his decisions. To address these problems, we present a tailored SPLE-based approach that combines model-driven development with advanced model composition techniques for applying and reasoning about specific safety solutions. In addition, we provide insights about how this approach can reduce the overall complexity, improve reusability, and facilitate safety assessment of the Hall Effect sensor.