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South Korea's LG Group and Mercedes-Benz Group are moving to strengthen their partnership in automotive electronics, marking a new chapter in their growing cooperation in next-generation vehicle technology, as per a report by Pulse, the English service of Maeil Business News Korea.
According to the report, Mercedes-Benz Group Chairman Ola Kallenius is set to visit LG Twin Towers in Yeouido, Seoul, on Thursday. He will meet the chief executives of LG's major automotive component companies to talk about deeper collaboration. The expected participants include LG Electronics CEO Cho Joo-wan, LG Energy Solution CEO Kim Dong-myung, LG Display CEO Jeong Cheol-dong, and LG Innotek CEO Moon Hyuk-soo. "Industry observers noted that the meeting will go beyond a mere courtesy visit and serve as a platform to solidify cooperation in core automotive components and future mobility technologies. They said that it could mark a new stage in the Korea-Germany strategic partnership around the automotive supply chain," the report said. This week's gathering also follows their earlier meeting about 20 months ago in Germany. That session took place during Mercedes-Benz's Tech Day event in March 2024. Executives from LG Group met the German automaker's leadership for the first time then. Observers see the upcoming meeting in Seoul as the second round of talks that could expand the LG-Mercedes alliance in vehicle electronics. Mercedes-Benz has been working to grow its lineup of next-generation electric vehicles. To support this, it aims to secure steady supplies of advanced batteries and electronic components. LG Group is considered a key partner because it has strengths in batteries, displays, and sensors, all of which are essential for future mobility. In batteries, LG Energy Solution and Mercedes-Benz are expected to explore ways to widen production capacity. They are also likely to discuss joint technology development linked to their long-term cylindrical battery supply agreement, which is worth about 15 trillion won (approximately USD 10.23 billion) and was signed earlier this year. In displays, LG Display already supplies OLED panels for Mercedes-Benz vehicles. The company recently introduced new flexible P-OLED technology, which is drawing interest from the auto industry. Analysts are watching how LG Electronics' technology may fit into Mercedes-Benz's Hyperscreen infotainment system. In sensors, LG Innotek continues to expand its range of high-value automotive parts. These include camera modules and radar and lidar sensors. The company is expected to continue talks with Mercedes-Benz on sensor development. "Kallenius is also scheduled to meet Cho Hyun-sang, vice chairman of HS Hyosung Corp., which operates as an official Mercedes-Benz dealership partner in Korea through its affiliate HS Hyosung The Class. Kallenius will also meet Samsung Electronics Co. Executive Chairman Jay Y. Lee to discuss cooperation in the vehicle electronics business," the report stated. (ANI)
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