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.
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By GlobalDataThe 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.
LG Corporation also encompasses a number of other major companies involved in the automotive supply chain, including EV battery manufacturer LG Energy Solution, LG Chem, LG Display and LG Innotek.
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.
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.”
