LG and Magna strengthen cooperation for autonomous driving solutions

2. February 2023

LG Electronics and automotive supplier Magna announced in early January that they will strengthen their cooperation in the field of autonomous driving. The two companies are combining synergies of LG’s advanced in-car entertainment technology and Magna’s driver assistance systems. There are plans to develop a prototype for new systems and conduct a joint feasibility study. LG and Magna were also present at the CES electronics show in Las Vegas in January to make new business contacts with global car manufacturers. Parts and equipment used in the production of autonomous vehicles often require KCs certification to be approved for import and sale in Korea.
 

 
LG has been continuously developing its in-car entertainment systems in recent years and is the world’s number one with 23 per cent market share, according to market analyst Strategy Analytics. LG’s portfolio includes telematics, audio, video and navigation systems. The expanded collaboration between the two companies stems from the LG Magna e-Powertrain joint venture of 2021. After building plants in South Korea and China, LG Magna is now building a third automotive parts plant in Mexico at a cost of US$100 million.

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