A recent announcement disclosed the creation of an electric vehicle (EV) alliance between prominent Korean companies Hyundai Motor Group, Samsung, SK, and LG. According to the Korea Times, one of the key components of this cooperation focuses on the integration of LG’s organic light-emitting diode (OLED) instrument panels into EVs manufactured by Hyundai and Kia.
The newly formed automotive alliance between is rooted in significant investments from the three tech companies in an effort to expand their global presence and competitiveness within the automotive industry. SSamsung Electronics has been investing heavily in automotive application processors and foundries, and Samsung Electro-Mechanics is raising its investments in multi-layer ceramic capacitors, a key component for EVs.
In the wider components industry, several LG affiliates, including LG Display (panels), LG Innotek (camera modules), LG Magna (powertrain), and LG Electronics (operating systems and infotainment systems) are competing globally. These companies are among the frontrunners in their respective sectors, highlighting LG’s comprehensive role in the industry.
In the battery sector, LG Energy Solution, along with SK Innovation and Samsung SDI, are leading the global market. These companies are not only integral to their domestic South Korean market but also to the global landscape of EV component suppliers. The investments and subsequent alliances underscore a concerted effort to lead the way in EV development and production.
