LG Elec, Magna expand partnership into self-driving tech

LAS VEGAS – LG Electronics Inc., the world’s top home appliance producer, expanded its partnership with Canadian car parts maker Magna International Inc. into autonomous driving technology from the electric vehicle powertrain sector.

South Korea’s tech giant LG, which seeks new growth boosters from the future mobility, said on Wednesday that it agreed with Magna, one of the world’s largest suppliers in the automobile industry, to jointly develop a proof of concept for an automated driving-infotainment solution.

The two companies plan to explore the technical feasibility of integrating LG’s infotainment capabilities with Magna’s Advanced Driver Assistance System (ADAS) and automated driving technologies.

They are set to focus on creating executable in-vehicle infotainment (IVI)-ADAS solutions to better meet carmakers’ vehicle programs. Both LG and Magna plan to introduce this concept to global automakers during CES 2023, the most influential tech event in the world, held in Las Vegas this week.

“We plan to work closely together to demonstrate potential ADAS innovations that could help automakers address some of their toughest challenges,” Eun Seok-hyun, the head of LG’s vehicle component solutions unit, said in a statement.

LG’S IN-VEHICLE INFOTAINMENT. MAGNA’S ADAS

The two companies already set up a joint venture – LG Magna e-Powertrain Co. – in 2021 to capture opportunities in the fast-growing global market of the eco-friendly vehicles.

Magna supplies various components and autonomous driving solutions to global automakers. The company in December last year agreed to acquire Swedish automotive technology company Veoneer’s Active Safety business from SSW Partners for $1.5 billion in a move to strengthen its ADAS capabilities.

LG is a global powerhouse in the IVI, a collection of automobile hardware and software that provides audio or video entertainment and driving information, topping the world’s telematic market with a market share of 23% in the third quarter of 2022.

LG, a unit of South Korea’s fourth-largest conglomerate, has been fostering its automotive electronics business, especially infotainment systems, EV powertrains and automotive lighting systems, to become a game-changer in the future mobility market.

The company aims to upgrade the competitiveness of its infotainment systems through its partnership with Magna.

Write to Seung-Woo Lee at leeswoo@hankyung.com
Jongwoo Cheon edited this article.