William Cho, CEO of LG Electronics: "8 out of the World's Top 10 Automakers Use LG's Vehicle Components"

[Financial News] William Cho, CEO of LG Electronics Inc., announced on the 10th that "eight out of the world's top ten automakers are using LG's automotive components and vehicle solutions."
On his LinkedIn account, Cho stated, "We are recognized as a trusted partner by leading global automakers such as General Motors (GM), Volkswagen, Nissan Motor Co., Ltd., and Toyota Motor Corporation. At the same time, we have solidified our position as a leader in mobility innovation on global stages like the Internationale Automobil-Ausstellung (IAA), one of the world's top three motor shows held in Germany." He emphasized, "We are also playing an increasingly central role in LG Group's overall mobility strategy." He added, "The vehicle component business achieved record-high operating profit in the third and fourth quarters, and has emerged as a strategic growth pillar for our B2B operations."
LG Electronics Inc. aims to increase the proportion of B2B sales to 40% by 2030, fostering the vehicle component business as a growth engine alongside heating, ventilation, and air conditioning (HVAC) and robotics. In the third and fourth quarters, the Vehicle Solution Business Division (VS) recorded sales of 2.6467 trillion KRW, up 1.4% year-on-year, while operating profit soared to 149.6 billion KRW from 1.1 billion KRW a year earlier. This marks the first time the operating margin has exceeded 5%.
Cho also commented, "We are taking the next step by expanding partnerships across the entire Software-Defined Vehicle (SDV) ecosystem. Recently, we joined SDVerse, the global marketplace for automotive software, and moving forward, we will present a variety of mobility solutions centered on LG αWare, deepening collaboration with OEMs, Tier 1 suppliers, and software developers."

soup@fnnews.com Im Soo-bin Reporter