By
News Reporter
Company Continues to Perform Well in Highly Competitive Sector,
Securing Orders Worth KRW 8 Trillion in the First Half of 2022
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
Question
yeetmopedfoahn
I have a 55UK6400PLF and it was working fine since I bought it. Now I moved to my girlfriends house and now LAN and WiFi won't work. It won't even connect to the WiFi it just comes up an Error message that it wasn't able to connect to the network and that I should check everything and try it again. Not the biggest problem because I would like to use a Ethernet cable. When I plug the Ethernet cable in my TV, a pop-up comes up which says that it's connected to the network via network cable and immediately afterwards it says "lan not connected". This continous until I remove the cable. I made an factory reset on the TV and on my Router. Still doesn't work. The WiFi and LAN works fine for everyone but not for my TV. Somebody got a quick solution for that?
0 answers to this question
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.