Thursday, 28 September 2023
TechLG's Steps to Earn Profits in the Era of Software Defined Vehicles

LG’s Steps to Earn Profits in the Era of Software Defined Vehicles


The global automotive industry is welcoming the era of software defined vehicle (SDV). LG Eletronics has prepared a strategy so that it can make a profit.

At IFA 2023, LG CEO William Cho unveiled three key areas the company will work on in the SDV era. First, the in-vehicle infotainment system produced by LG VS.

The two electric powertrain systems were developed by LG Magna e-Powertrain (LG Magna), which is a joint venture company between LG and Magna International. Then the vehicle lighting system was developed by the ZKW Group, which is known as a subsidiary of LG.

Infotainment services will provide passengers with driving-related information and entertainment options. Utilizing several advanced technologies, including telematics systems capable of transmitting high-speed and high-volume data, digital interfaces such as the Digital Cockpit, as well as big data and cloud solutions that can analyze data points generated by vehicles.

To increase the performance of its e-Powertrain for electric vehicles (EV) and expand product availability, LG Magna plans to build a new production facility in Miskolac, Hungary. With an area of ​​26,400 square meters, this facility will be LG Magna’s first factory in Europe.

In strengthening the mobility ecosystem in the future, last year LG has acquired HiEV Charger which is known as a company that owns the core technology of EV chargers. Synergy is also expected to occur in the battery business within the LG Group, which is projected to grow rapidly in the coming years.

In order to meet the increased demand in the future mobility sector, HiEV Charger has launched four types of EV chargers which overcome the drawbacks of the existing solutions. These new products offer increased convenience through the implementation of LED displays that offer status notifications and intuitive touch controls.

LG CEO William Cho Photo: LG

Apart from that, this new charger is also equipped with various features for increased safety. Such as water and dust resistance, as well as electrical and thermal protection during the charging process. The new charger is also said to provide ease of management through connector lock detection and remote updates.

The CEO of LG also announced the company’s plans which aim to expand its electric vehicle charging business. This includes leveraging its capabilities in manufacturing, quality control, after-sales service and supply chain management to enhance the customer’s charging experience.

“We firmly believe that future mobility must focus on the mission to provide a user experience at a different level. LG, with its innovative mobility solutions, is very committed to this important mission,” said Cho when delivering the keynote at IFA 2023, Monday (4/9/ 2023)

“As LG strives to unlock the future of mobility, we invite all industry leaders to join us on this exciting and important journey.”

Watch Video “Do you want to have friends who are stylish and reliable?
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