Seoul: South Korean conglomerate LG Group announced on Thursday that its affiliates have engaged in discussions with Mercedes-Benz Group AG regarding a comprehensive partnership in the automotive parts sector, with a focus on advanced vehicles, including electric vehicles (EVs). Cho Joo-wan, CEO of LG Electronics Inc., met with Mercedes-Benz Group Chairman Ola Kallenius in Seoul to exchange visions on the mobility industry of the future, primarily driven by EVs, as stated in a release by the business group.
According to Yonhap News Agency, three other leaders from LG affiliates-Kim Dong-myung of LG Energy Solution Ltd., Jeong Cheol-dong of LG Display Co., and Moon Hyuk-soo of LG Innotek Co.-were also present at the meeting. The conglomerate revealed that these affiliates discussed potential cooperation with the German automaker in the realm of next-generation vehicles, which includes EVs and software-defined vehicles (SDVs), through the "One LG" solution.
The dialogue between the two companies aligns with the ongoing joint projects, such as the collaboration between LG Electronics and Mercedes-Benz to develop an advanced driver assistance system for the automaker's EQS sedan. Since 2020, LG Display has been supplying plastic organic light-emitting diode (P-OLED) displays to Mercedes-Benz.
The partnership extends further as Mercedes-Benz has been working with LG Energy Solution on battery supplies and is considering a potential collaboration with LG Innotek for camera modules and other automotive components. Cho expressed intentions to strengthen the strategic partnership with Mercedes-Benz based on LG's user experience-oriented value, comprehensive SDV solution portfolio, and proven global market competitiveness in automotive parts.
Mercedes-Benz, in its press release, highlighted that both parties discussed a wide array of potential cooperation opportunities to advance the automaker's future vision. This includes the implementation of electrification-centered mobility and the creation of a flexible and sustainable global production network through digitalization and automation. The automaker also noted that both sides agreed to explore new cooperation avenues and expand technological synergies in areas such as batteries, displays, and electronic components. "Together with LG, we share a vision built on innovation, quality, and sustainability. By combining our strengths, we're creating vehicles that will set new global standards," Kallenius commented.