LG Group leaders give car electronics biz a boost

[Photo provided by LG Group]

LG Group’s top executives have converged in Germany, signaling a concerted effort to bolster the group’s presence in the car electronics sector. According to industry sources on Thursday, management teams from LG Electronics, LG Display, LG Innotek, and LG Energy Solution visited the headquarters of Mercedes-Benz in Stuttgart, Germany, from March 11th to 12th, 2024 (local time).

Among the attendees were LG Vice Chairman Kwon Bong-seok, LG Electronics CEO Cho Joo-wan, LG Display CEO Jeong Cheol-dong, LG Innotek CEO Moon Hyuk-soo, and LG Energy Solution CEO Kim Dong-myung. They were greeted at Mercedes-Benz by the company’s CEO Ola Källenius and COO/CTO Markus Schäfer.

LG also hosted the ‘LG Tech Day 2024’ event at an exhibition center at its Böblingen factory., LG showcased its array of car electronics products that include electric vehicle batteries, automatics, electric vehicle drive systems, vehicle displays, headlights, radar, lidar, and vehicle sensors via a private booth at the event.

Källenius expressed optimism about collaborating with LG, saying via social media, “we mainly discussed how we can push innovative technology in the automotive industry…I‘m sure that together with our strong partners, we will raise the bar again with the next generation of products.”

He also revealed specific areas of collaboration with LG, saying, “We have been working with LG for many years, including leveling up our infotainment game with the Hyperscreen. And the camera systems contribute to our pioneering role in the field of automated driving.”

His comments are in praise of LG Electronics’ in-car infotainment systems and LG Innotek’s camera modules for advanced driver assistance systems (ADAS).

Källenius last visited South Korea in August 2023, where he met with Kwon and Jeong Ho-young, then CEO of LG Display. LG Display has been involved in vehicle display projects with Mercedes-Benz Group since 2004, while LG Electronics supplies IVI systems and vehicle lighting to Mercedes-Benz cars.

LG has also been strengthening its partnership with General Motors (GM) after GM Chairman and CEO Mary Barra visited LG Twin Towers in February 2024 to discuss collaborating on car electronics and batteries.