Autonomous Vehicle News
South Korea’s LG Electronics has established a research and development (R&D) subsidiary in Vietnam to help it respond to rapidly growing demand for electric vehicle (EV) components. LG said the operations at its existing R&D centre in Hanoi would be incorporated into the new subsidiary, called LG Electronics Development Vietnam. US market research firm Strategic Analytics regards LG as a global market leader for IVI systems with a 23% market share. LG said the new R&D subsidiary was part of its strategy to strengthen its position in the global auto parts market and lead the fast approaching autonomous driving era. The company has three key automotive systems businesses – IVI systems, lighting and headlight systems through its ZKW Group subsidiary, and e-powertrains through its joint venture with Magna International.