In the middle of last year, South Korea’s LG Innotek won an order worth about 1 trillion won from U.S. electric car maker Tesla for in-vehicle camera modules, which are planned to be used in the Model Y, Model 3 and Semi electric trucks produced at the Texas Super Factory.
According to Dong-A Ilbo, LG Innotek has now successfully taken an order for camera modules for Tesla’s Cybertruck, an electric pickup truck, with a supply period of more than 3 years and a maximum order size of 1.5 trillion won.
According to the report, the contract was actually officially signed on December 30 last year. Last June, it was reported that LG Innotek and a foreign company participated in the tender for the supply of camera modules, but Samsung Electro-Mechanics also participated in the tender, and the final results have now been revealed.
In fact, Tesla has been trying to diversify its key parts suppliers in recent years, and LG Innotek has been working with the company since it supplied a handful of car cameras to Tesla in 2021, and became an official parts supplier after gaining registration approval ahead of the big deal.
LG Innotek was founded in 1970, is the first comprehensive electronic parts company in South Korea, has developed into a global market leader in the global materials and accessories company, currently involved in mobile, display, semiconductor, auto and automobile and the Internet of things in the field of core materials and accessories.
An auto parts industry source pointed out that the unit price of a camera module generally does not exceed 10,000 won, and even for high-tech products, it does not exceed 15,000 won. Tesla, for example, has installed eight cameras in the Model 3 and Model Y to achieve semi-autonomous driving, which is the pure vision solution Tesla is pushing.
