After Exiting The Smartphone Industry, LG Enters The Automotive Market And Starts Manufacturing Components For Electric Cars

Written by Valdemar Medeiros

Published on 27/06/2021 at 11:22

LG na indústria de carros elétricos – créditos: insideevs Brasil

Seja o primeiro a reagir!

LG Officially Announces Its Entry Into The Electric Car Market. The Company Will Operate In The Automotive Sector With Magna International

LG, one of the giants of smartphone technology, is always attentive to what the market desires, as evidenced by the company’s announcement a few months ago regarding the purchase of Magna International, a Canadian company that supplies parts for the automotive sector worldwide and has fully entered the automotive market for manufacturing components for electric cars.

LG Retires From The World of Smartphones and Ventures Into Electric Cars

Although the acquisition of the automotive company may seem obvious, only now has LG confirmed its interest in the automotive market. The company’s plans, along with Magna, are to manufacture components for electric cars, which may range from inductive chargers and multimedia centers to complete electric motors.

It is worth noting that the Canadian automotive company also has partnerships with automakers such as Ford, GM, and BMW. According to Nikkei, LG and Magna’s first project will be an electric motor named LG Magna e-Powertrain.

ARTICLE CONTINUES BELOW

LG Will End Smartphone Production

LG acquired 51% of Magna and, with the confirmation, will begin operations this July. It is worth remembering that this will also be the same month that LG intends to finalize its smartphone production.

After years of losses, LG officially announced at the beginning of April that it plans to exit the smartphone market. The company informed the press, through a statement, that it would cease smartphone production at its factory in Haiphong, Vietnam. The location was closed and will be adapted to become an appliance factory.

LG In The Electric Car Automotive Market

The merger with Magna is not LG’s first venture into the electric car market. This division has existed since 2013, but it was only in 2018, also looking towards EVs, that the company announced the acquisition of ZKW, an Austrian car headlight manufacturer.

At that time, the Asian company defined that its strategy in the electric car market would mainly consist of central multimedia headlights (mentioned earlier), which include audio and navigation systems and other components for vehicles.

After Exiting The Smartphone Industry, LG Enters The Automotive Market And Starts Manufacturing Components For Electric Cars

LG Officially Announces Its Entry Into The Electric Car Market. The Company Will Operate In The Automotive Sector With Magna International

Read Also

LG Retires From The World of Smartphones and Ventures Into Electric Cars

LG Will End Smartphone Production

LG In The Electric Car Automotive Market

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

With 7.4 trillion tons of artificial snow pumped in 10 years, an extreme operation could stabilize the West Antarctic ice sheet and prevent a sea level rise of more than 3 meters, but it would require snow cannons, ocean water, and energy on an almost industrial scale at the end of the world.

The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

The CEO of Honor in Spain says that smartphones will change with AI, foldables, and even robot phones; the component crisis is making cheap models more expensive in 2026 and shifting the focus to premium.

At 625 meters above the ground and with a span of 1,420 meters between mountains, China inaugurated the highest bridge in the world — and the 2-hour journey now takes 2 minutes.

A neighboring country of Brazil starts to profit billions from oil after the war in Iran, sees its economy grow at an unusual pace, and enters a silent dilemma that few countries can resolve without a crisis.

War in Iran complicates the situation, the government is considering holding back gasoline prices, and the new minister says that if necessary, the country may even go into more debt to protect families.

What looks like a giant cat sleeping at Hong Kong airport is actually 8 meters long, responds to visitors, and has become an unexpected attraction among passengers arriving without imagining what they will find.

Made from common salt and 50% cheaper than lithium, the new Chinese battery promises a range of 500 km and could revolutionize electric cars starting in 2026.

After Exiting The Smartphone Industry, LG Enters The Automotive Market And Starts Manufacturing Components For Electric Cars

LG Officially Announces Its Entry Into The Electric Car Market. The Company Will Operate In The Automotive Sector With Magna International

Read Also

LG Retires From The World of Smartphones and Ventures Into Electric Cars

LG Will End Smartphone Production

LG In The Electric Car Automotive Market

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

With 7.4 trillion tons of artificial snow pumped in 10 years, an extreme operation could stabilize the West Antarctic ice sheet and prevent a sea level rise of more than 3 meters, but it would require snow cannons, ocean water, and energy on an almost industrial scale at the end of the world.

The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

The CEO of Honor in Spain says that smartphones will change with AI, foldables, and even robot phones; the component crisis is making cheap models more expensive in 2026 and shifting the focus to premium.

At 625 meters above the ground and with a span of 1,420 meters between mountains, China inaugurated the highest bridge in the world — and the 2-hour journey now takes 2 minutes.

Venice is at real risk of disappearing under the sea by 2300, and scientists reveal 4 radical solutions ranging from billion-euro projects of up to €100 billion to the extreme decision to abandon the historic city forever.

Shotcrete replaces manual plastering, can double or even triple productivity on site, and delivers more uniform walls; this industrialized technique has been gaining ground precisely where there is a lack of skilled labor.

Common tiles may be on borrowed time because a new European technology transforms the roof itself into a solar power plant without the need for traditional panels that sit on top and spoil the house’s appearance.

The project approved by the federal government plans the construction of a mega railway that will cross 24 cities, cost 6.6 billion reais, and transform the logistics map of the Southeast by connecting Espírito Santo to Rio de Janeiro.

At 625 meters above the ground and with a span of 1,420 meters between mountains, China inaugurated the highest bridge in the world — and the 2-hour journey now takes 2 minutes.

A neighboring country of Brazil starts to profit billions from oil after the war in Iran, sees its economy grow at an unusual pace, and enters a silent dilemma that few countries can resolve without a crisis.

War in Iran complicates the situation, the government is considering holding back gasoline prices, and the new minister says that if necessary, the country may even go into more debt to protect families.

What looks like a giant cat sleeping at Hong Kong airport is actually 8 meters long, responds to visitors, and has become an unexpected attraction among passengers arriving without imagining what they will find.

Made from common salt and 50% cheaper than lithium, the new Chinese battery promises a range of 500 km and could revolutionize electric cars starting in 2026.