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LG automotive electronics and battery orders expected to exceed 500 trillion won in 2023

According to foreign media reports, an analyst said in a report this week, the company’s business involves automotive electronics, panels, batteries and other businesses, LG Group, which has a complete supply chain of electric car parts, is an ideal partner for Apple’s car project, and cooperation between the two companies is also possible.

Judging from foreign media reports, analysts believe that LG Group, which is an ideal partner for Apple’s car project, has indeed received a large number of orders in terms of automotive electronics and batteries, and is expected to exceed 500 trillion won (approx. 2.75 trillion yuan), or about $400 billion.

Foreign media reported that as of December 28, LG’s automotive electronics and battery orders had reached 477 trillion won (about 2.62 trillion yuan).

Of the 477 trillion won in auto electronics and battery orders that LG has received, a large part of the orders for electric vehicle batteries obtained by LG New Energy, which reached 370 trillion won (about 2.04 trillion yuan), accounting for more than 77.5 %.

Of the remaining 107 trillion won (approximately 588.5 billion yuan) of orders, LG Electronics’ VS business unit received 84 trillion won (approximately 462 billion yuan) and LG Innotek received 13 trillion won (approximately 71.5 billion yuan) , LG Display has 10 trillion won (about 55 billion yuan).

LG currently has a number of companies involved in the automotive electronics and electric vehicle battery business, among which LG Electronics produces information systems, LG Innotek produces cameras and communication modules, LG New Energy is batteries, and there are also companies involved in power transmission devices.

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Threza Gabriel
Threza Gabrielhttps://www.techgoing.com
Threza Gabriel is a news writer at TechGoing. TechGoing is a global tech media to brings you the latest technology stories, including smartphones, electric vehicles, smart home devices, gaming, wearable gadgets, and all tech trending.

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