LG Electronics is investing more than $ 3.5 billion in auto components sector over 5 years

 A report published today, Thursday, showed that the South Korean electronics giant LG Electronics has invested more than 4 trillion won (3.5 billion dollars) in the last five years in the auto components sector with the aim of enhancing the performance of its future growth engine. .

According to South Korea's Yonhap News Agency, LG invested in the automotive component solutions sector (VS) 587.8 billion won in 2017, 1.7 trillion won in 2018, 629.3 billion won in 2019 and 475.1 billion won in 2020, and plans to invest 613.8 billion won. Won during the current year.

The company's total investment in the auto components sector over the last five years amounted to 4.02 trillion won, which is slightly less than the investment in the home electronics sector, the source of its main cash flow, which amounted to 4.26 trillion won.

It is noteworthy that the auto components sector at LG Electronics was established in 2013 and has been suffering from losses over the past five years, but LG expects an improvement in performance during the current year with sales growing steadily until 2024 at an average rate of 15% annually.

LG also intends to steer its automotive component sector in three main directions: automotive IT systems, engines and lighting systems.

LG has recently created a new company called Ulto, in partnership with the Swiss software company Luxoft, to develop solutions for digital cockpits, embedded information systems in cars, entertainment systems for passenger seats in the car, and intelligent transport services systems based on LL company's digital web platform. .

 

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