South Korea’s LG Electronics wants to boost collaboration with US semiconductor manufacturer Qualcomm Technology into advanced driver assistance systems (ADAS) and autonomous vehicle (AV) technology, according to local reports.
LG Electronics, one of the world’s largest home appliance manufacturers, has been expanding aggressively into automotive in recent years. Last week it said it was targeting a 20% increase in automotive revenue to KRW10.3trn (US$8.1bn) in 2023.
The company’s largest automotive operations include Austrian lighting manufacturer ZKW Group, which it acquired in 2018, and LG Magna e-Powertrain Company, the EV powertrain joint venture with Canadian supplier Magna International.
The head of LG Electronics’ Vehicle Component Solutions Eun Seok-hyun was reported to have met recently with Jim Cathey, Qualcomm’s chief commercial officer, in Seoul to discuss ways of expanding collaboration into autonomous driving and ADAS.
Qualcomm was also expanding into semiconductors for autonomous vehicle applications which it saw as key to future growth.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
The two companies have long collaborated in sectors such as onboard infotainment and 5G connected platforms.
Cathey said in a statement: “I appreciate LGEVS’ long term partnership with Qualcomm and I look forward to further strengthening our collaboration.”