LG to strengthen auto business with new partnerships

LG Electronics is looking to significantly increase its global automotive component sales by targeting growth segments such as autonomous driving.

Company CEO Jo Seong-jin, speaking at the IFA 2018 consumer electronics expo in Berlin, said he was considering joining forces with US electronics company Nvidia to expand in the self-driving sector which is seen as a key automotive growth segment of the future.

The South Korean appliance and cellphone manufacturer is already one of the world's largest producers of automotive lithium-ion batteries and is a major global supplier of LED screens which are also used in its automotive infotainment systems.

Jo said companies such as Nvidia were taking the lead in developing autonomous driving technology and that his company was looking to purchase outside technology to help it develop better applications.

LG's telematics division last year partnered with Dutch digital mapping company Here Technologies to source high precision map information.

While in Germany, the LG CEO was also visiting the Austrian headquarters of its newly acquired headlamp manufacturer, ZKW, to meet the top management for the first time since the EUR1.1bn takeover last month.

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