Quantcast
Jump to content

LG Continuously Strengthens Position in Global Electric Vehicle Industry


Recommended Posts

Company Continues to Perform Well in Highly Competitive Sector,
Securing Orders Worth KRW 8 Trillion in the First Half of 2022

VS_01-600x375.jpg

SEOUL, July 5, 2022 — LG Electronics (LG) continues to establish its position as a major force in the electric vehicle (EV) component solutions business, confirming it has secured orders valued at KRW 8 trillion in the first half of 2022 to deliver its in-vehicle experience to diverse global automakers.

Expanding cooperation with major global car manufacturers including Mercedes-Benz AG, Groupe Renault and General Motors and supplying its P-OLED IVI systems to clients’ electric vehicles, LG is seeking to augment its comprehensive portfolio.

LG’s EV component solutions business is rapidly growing based on its three core businesses sector: the LG Vehicle component Solutions (VS) Company, ZKW Group and LG Magna e-Powertrain.

Acquired by LG in 2018, ZKW Group boasts market-leading vehicle headlamp technology, and a global clientele that includes BMW, Mercedes-Benz AG, Audi and Porsche. Meanwhile, LG Magna e-Powertrain is expanding its worldwide production base, adding a third manufacturing facility (Ramos Arizpe, Coahuila, Mexico) to its existing factories in Incheon, South Korea and Nanjing, China. Construction has already begun on the 25,000-square meter site, which is projected to open in 2023 and is slated to produce key components, such as motors and inverters, for General Motors’ next-generation of EVs.

In the first half of this year, the value of orders for LG’s advanced EV component solutions surpassed the total accumulated value of all orders on hand as of 2021 (KRW 60 trillion) by a mark of 13 percent. The company expects that the accumulated orders placed with its EV components business by the end of 2022 will exceed KRW 65 trillion in value.

Given the decrease in vehicle production due to the shortage of automotive semiconductors and other ongoing global supply issues, the performance is encouraging as the consolidated sales for LG’s EV component solutions business increased up to 24 percent compared to last year, reaching KRW 6.7 trillion.

Based on a report from market research firm Strategy Analytics published in April 2022, LG is estimated to be already leading the global telematics market, boasting a 22.7 percent market share as of the first quarter of 2022 and recording a double-digit market share in the audio, video and navigation (AVN) market since last year.

“Leveraging the advanced core technologies and the strong partnership with the global manufacturers, we will continue to provide differentiated value to our auto-industry customers,” said Eun Seok-hyun, president of the LG VS Company.

# # #

link hidden, please login to view

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Similar Topics

    • By News Reporter
      Now Available in 65 Inches, the M4 Is the First and Only TV to
      Wirelessly Transfer Video and Audio at 4K 144Hz

      SEOUL, July 1, 2024 — LG Electronics (LG) is set to begin the global rollout of its new OLED evo M4 series TV with the accompanying Zero Connect Box that provides wireless connectivity between the TV and the receiver. The company is presenting the new model in 65 inches, in addition to the 77, 83 and 97 inches; the M series offers to accommodate the personal preferences and living spaces of as many customers as possible. Powered by the cutting-edge LG α (Alpha) 11 AI Processor, the OLED M4 delivers superior home entertainment experiences while its proprietary wireless-transmission technology unlocks new possibilities in living-space curation.
      LG’s OLED evo M4 is the first-ever TV with the ability to display wirelessly transmitted video and audio at 4K 144Hz.* The Zero Connect Box sends signals to the TV’s self-lit OLED screen without any direct wire connections, as there are no cables between the two devices to disconnect and reconnect.
      Thanks to its wireless transfer capability, the Zero Connect Box can be placed almost anywhere in the room, letting users enjoy the flexibility to arrange their living space however they want to. Bringing numerous new possibilities to the art of ‘interior curation,’ the Zero Connect Box also enables users to effortlessly move the screen, or the Zero Connect Box itself, whenever necessary.
      An additional benefit with the Zero Connect Box is that it becomes a simple solution to achieving a clean, clutter-free living space. Users no longer have to think up creative ways to hide or tolerate the usual tangle of cables around the TV.
      Meanwhile, in addition to wireless connectivity, the LG OLED M4 boasts spectacular picture quality with its stunning self-lit screen and the new α (Alpha) 11 AI Processor. Designed exclusively for use in LG’s award-winning OLED TVs, this processor leverages three decades of AI innovations, providing personalized experiences tailored to user preferences and habits.
      The M4’s faster AI processing speeds, along with its Neural Processing Unit (NPU), elevate it to the status of the ultimate gaming TV. Supporting 4K content at a blazing 144Hz, it delivers fluid gameplay and lifelike visuals. LG’s powerful processor, combined with the state-of-the-art OLED display, takes gaming enjoyment to the next level.
      LG’s OLED M4 series TV with the Zero Connect Box will be rolling out in major markets worldwide from July 1.
      # # #
      * LG 2024 OLED M4 series TVs up to 83 inches (screen size) provide support for 4K@144Hz. The 97-inch OLED M4 supports 4K@120Hz.

      link hidden, please login to view
    • By News Reporter
      ‘Optimism your feed’ Playlist Curated by Global Influencers Will Enable Users
      to Engage With Optimistic and Inspiring Content on Their Social Media Feeds

      SEOUL, May 29, 2024 — LG Electronics (LG) today launched a global campaign called ‘Optimism your feed,’ which aims to help users bring more optimism to their social media experience by inviting them to proactively engage with positive and inspiring content on their feeds.
      “As a customer-focused brand, LG is a passionate champion of optimism. We aim to create positive changes in people’s lives by being intentional with our positive activities both online and in the real world,” said Kim Hyo-eun, vice president and head of LG’s Brand Management Division. “In the AI era, LG remains committed to our unwavering promise of ‘Life’s Good.’ We will continue to enhance our customers’ lives with a human-centric approach, fostering hope for a better future.”
      A new global survey commissioned by LG found that social media is both a source of anxiety and a place where people turn to be entertained, keep up with friends and family, and stay informed about news and current events. According to the survey, almost half of respondents (45 percent) report their social media feeds consist of an equal or greater amount of negative content than positive content. One in four respondents (28 percent) claimed negative content on their social media feeds has increased their anxiety and one in five (20 percent) said it has made them unhappy.
      link hidden, please login to view also suggest that algorithms often promote negative and niche conversations. The global survey sought to understand the triggers that affect how algorithms work and how to increase your feed’s positive content. The result is the ‘Optimism your feed’ playlist of original content that, when interacted with, will pull more optimistic content into your feed.* ‘Optimism your feed’ is part of LG’s global , introduced last year to inspire and encourage people to approach life with an optimistic attitude.
      Created in collaboration with global influencers renowned for their optimistic influences including , , and more, the ‘Optimism your feed’ playlist includes over 20 short-form videos ranging from motivation to feel-good content.
      Additionally, LG is consulting with social media experts including Professor , an information scientist and technology ethicist, with a PhD in Human Centered Computing. Fiesler researches and teaches in the areas of technology ethics, internet policy and online communities, and has published on topics such as social media content moderation and recommender systems. She also educates the public on these topics as a content creator.
      Social media has become an integral part of our lives, and algorithms play a significant role in the content that we see in these spaces. LG’s global playlist and campaign gives users the opportunity to see more positive and uplifting posts. By being more conscious about what we choose to engage with, we can bring stronger optimism, balance and happiness to our lives.
      According to Fiesler, “Recommendation algorithms determine what we see on social media by predicting what content we are likely to engage with. These algorithms can therefore send us down ever more specific niches – for good and for bad. Research has shown that left unchecked, users can go down negative rabbit holes and encounter harmful content quite quickly. One of our first lines of defense needs to be improving our digital literacy, and paying more attention to how algorithms influence our online experiences. And the good news is that we do have some control over the input for these algorithmic predictions; if we choose to engage with optimistic content, there’s a good possibility we will see more of it.”
      Victoria Browne, a global influencer and TEDx Talk speaker, said, “The algorithms on our social channel can have a big impact on the content we see online, which impacts our mental health. That’s why I’m passionate about ‘Optimism your feed’, and I hope that people use this playlist as a foundation to retrain their algorithm and encourage positivity in all aspects of their lives. So much of the stigma and difficulty of tackling mental health is that it is unseen. With this campaign, we are saying you should reach out to your friends, and that we can help each other. Our algorithm should recommend content that makes us feel more connected to people, not less.”
      The ‘Optimism your feed’ playlist can be found on LG’s global TikTok channel and global YouTube channel , and will later spread to various social media platforms through collaborations with influencers around the world. More details can be found on the campaign page on .
      # # #
      * According to a global survey conducted by Dynata on behalf of LG in 2024.
      Survey Methodology
      Timings: Fieldwork conducted from April 26 to May 2, 2024
      Countries: USA, Mexico, Brazil, Germany, France, UAE, Saudi Arabia, Vietnam, South Korea, India, Australia
      Age: People between 22 and 65 years old and weekly TikTok or Instagram users
      Sample Size: 400 respondents in the USA, 200 respondents in the rest of the markets
      Method: Quantitative questionnaire online survey through Dynata’s proprietary panel

    • By News Reporter
      The Kia EV3 Comes Equipped With LG’s webOS-Based ACP, Elevating the In-Car
      Experience to New Heights

      SEOUL, May 27, 2024 — LG Electronics (LG) is bringing its cutting-edge Automotive Content Platform (ACP) powered by webOS to the latest all-electric SUV from Kia Corporation (Kia). The integration of LG’s ACP into the recently unveiled Kia EV3 marks the first time the innovative solution has been applied to an electric vehicle. LG’s automotive entertainment platform initially debuted in South Korea last year with the introduction of the Hyundai Motor Group (Hyundai) Genesis GV80 and GV80 Coupe.
      The webOS-based ACP brings the home entertainment experience into the vehicle cabin, aligning with LG’s future mobility vision to transform the car into a “living space on wheels.” This platform is an integral part of LG AlphaWare, LG’s suite of software solutions for software-defined vehicles (SDVs). It offers a wide range of content that has made LG Smart TVs with webOS so popular with consumers worldwide. Optimized for the in-car environment, LG’s ACP powered by webOS allows vehicle passengers to sit back and immerse themselves in their favorite content – just like they would at home.
      LG’s ACP makes commutes and road trips more entertaining and enriching by providing EV3 owners and passengers access to apps from a wide range of premium content providers, including Netflix, YouTube, Baby Shark World for Kids, Stingray Karaoke, Play.Works and LG Channels. Thanks to LG and Kia’s close collaboration, the EV3 conveniently puts LG’s powerful platform at each passenger’s fingertips, enabling them to enjoy high-quality content on the car’s built-in screens. From streaming services and social media platforms to educational content for kids, users have access to a variety of content previously only available on mobile devices or TV.*
      The webOS-based entertainment system from LG is continuously updated and enhanced, ensuring seamless integration with applications such as Baby Shark World for Kids. The mobile education app, beloved by children all over the world, presents over 9,000 songs and stories designed to educate and enthrall young learners and is readily available for download from the LG Content Store on the ACP.
      LG’s advanced ACP now offers an enriched content streaming experience with the recent addition of the company’s exclusive, free streaming service, LG Channels. Tailored for in-vehicle use, LG Channels presents over 80 channels, real-time news updates and over 400 VOD content options, including movies, dramas and animated series for children – all ready to watch without any complex sign-ups required. LG aims to expand its in-vehicle LG Channels service (which was first launched on ACP for the Genesis GV80) with more outstanding content choices set to arrive in the near future.
      “Featuring numerous user-centric innovations including LG’s ACP powered by webOS, the EV3 enables our customers to enjoy a compelling in-vehicle experience, complete with many of their favorite premium streaming services,” said Ryu Chang-sung, senior vice president and head of the Global Brand & CX division at Kia.
      “Our in-vehicle content platform elevates the mobility experience, providing easy access to a diverse array of high-quality content,” said Eun Seok-hyun, president of LG Vehicle component Solutions Company. “We will continue to collaborate with leading global content providers to further enrich LG’s ACP, meeting the demands of both automakers and end users.”
      # # #
      * The service requires a data subscription for automobiles.

      link hidden, please login to view
    • By News Reporter
      Increasing Popularity of LG’s Chillers is Propelling the Company to the
      Top-Tier of Global HVAC Manufacturers

      SEOUL, May 21, 2024 — LG Electronics’ (LG) B2B heating, ventilation and air conditioning (HVAC) business is experiencing solid growth, propelled by strong sales of the company’s chillers designed for large buildings and commercial facilities. Leveraging LG’s differentiated core technologies, these solutions have seen an impressive surge in average annual sales with a nearly 40 percent increase over the past three years.
      Chillers, cooling systems that supply cool air to indoor spaces by circulating cold water through a heat exchanger, have been a part of LG’s offerings since 2011. LG now boasts a full lineup of HVAC solutions, including residential and commercial air conditioners, central air conditioning chillers, chillers for nuclear power plants and building management systems (BMS).
      The HVAC business, emerging as a new growth engine for the company, is actively driving global sales of LG chillers. This is accomplished by targeting not only new battery and material manufacturing plants but also established facilities like nuclear power plants. Recently, LG secured a significant contract to supply chillers for a state-of-the-art battery plant being built in North America.
      According to LG’s market research, the global chiller market is anticipated to grow by six percent annually until 2027. LG’s goal is to more than double its HVAC product sales by 2030, positioning itself as a top-tier global provider of both residential and commercial HVAC solutions, both of which continue to play a crucial role in LG’s B2B sector success. Commercial chillers are expected to make a meaningful contribution to the expansion of LG’s HVAC business.
      LG chillers, equipped with an array of innovative technologies, offer not only great performance and energy efficiency but are also cost-effective in terms of maintenance. By integrating advanced heat pump technology and employing high-efficiency compressors and heat exchangers, LG’s advanced chillers provide reduced energy consumption and operational expenses compared to conventional chiller products.*
      The LG Inverter Scroll Chiller, one of LG’s notable chillers, is an efficient heat pump system that supplies water and provides heating and cooling for commercial facilities. It utilizes R32 refrigerant, which boasts a global warming potential (GWP) only a third to a quarter of that of R410 refrigerant. Designed with easy maintenance in mind, LG chillers feature a number of simple-to-replace components and offer convenient access to streamline the inspection process.
      Already well-established in Asia, LG’s chiller business is expanding internationally, increasing its presence in the Middle East, Europe and Central and South America in response to rising demand. The company has an advantage in the HVAC industry thanks to its sophisticated core technologies, which include key components such as compressors and motors. Additionally, LG is proactively investing in research and development, with a focus on essential HVAC technologies including heat exchangers, inverters and heat pumps.
      “We are committed to delivering efficient cooling systems that leverage our proprietary HVAC technologies to present exceptional performance and value to our global customers,” said James Lee, head of the Air Solution Business Unit at LG Electronics Home Appliance & Air Solution Company. “LG will continue to expand its presence in the global HVAC market with differentiated solutions including chillers, aligned with the latest trends in electrification and decarbonization.”
      # # #
      * Compared to previous 1-stage LG chillers, LG chillers adopt magnetic/air bearings (oil-free) with VSD drive, customized impeller and falling-film heat exchanger with high efficiency, increasing non-standard part load efficiency (NPLV) up to 91 percent based on GB Standard Condition, 500RT. Employing oil-free technology and fewer moving parts has helped reduce the operation cost of LG chillers up to 36 percent.
       

      link hidden, please login to view
    • By News Reporter
      Company Launches an Innovative New Material PuroTec to Bolster Growth
      and Global Presence in B2B Sector

      SEOUL, May 10, 2024 — LG Electronics (LG) is accelerating the growth of its advanced materials business with the launch of LG PuroTecTM, a cutting-edge antimicrobial glass powder. Designed to safeguard product hygiene and suitable for diverse applications, this innovative material leverages the company’s proprietary glass composition design technology and thorough understanding of real-life home appliance usage environments.
      PuroTec, a portmanteau of the words Pure, Protect and Technology, possesses anti-fungal and antibacterial properties that prevent microorganism contamination and associated odors. LG’s glass powder can be incorporated into various materials, including plastics, paint and rubber. Additionally, the company’s antimicrobial glass powder provides chemical and thermal stability, as well as durability and resistance to discoloration.
      LG first began developing antimicrobial glass powder in 1996, and now holds an impressive 219 patents related to the production and application of glass powder. The company manufactures its antimicrobial glass powder at LG Smart Park in Changwon, South Korea, which has an annual production capacity of 4,500 tons. This year, the company is expanding sales of its antimicrobial glass powder to major markets in Asia, such as China, Vietnam and India, and is anticipating a year-on-year increase in sales of over 700 percent.
      Moving forward, LG aims to significantly ramp up its advanced material business, utilizing international exhibitions to introduce PuroTec to potential global customers. PuroTec was recently honored at Chinaplas, Asia’s largest plastic and rubber industry exhibition, held in Shanghai, China (April 23-26), where it was awarded ‘Innovation of the Year’s status. This month, LG plans to unveil PuroTec at the National Plastics Exposition (NPE), considered one of the world’s top-three plastic industry events, which will take place in Orlando, Florida, USA, from May 6-10.
      “We are dedicated to building up our advanced materials business, and are confident that it will drive new growth for our B2B business,” said Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company. “LG will continue to invest in research and development to further enhance the efficacy and quality of its glass powder materials, and to uncover new cases for its application in the home appliance category and beyond.”
      # # #

      link hidden, please login to view
×
×
  • Create New...