Mercedes-Benz Chairman Visits Korea, Meets with Key LG Executives
Discussing Expanded Cooperation in "Future Mobility" Including Automotive Electronics
Jo Joo-wan: "The Era of AI-Centric Vehicles Is Coming"
Ola Kallenius, Chairman of Mercedes-Benz, visited Korea and emphasized the partnership by stating, "LG is a strong partner." Major affiliates of the LG Group have decided to further expand their collaboration with Mercedes-Benz across all areas through the "One LG" solution, which brings together their collective capabilities in the automotive electronics and electrical equipment (vehicle components) business.
On the afternoon of the 13th, Chairman Kallenius visited the LG Twin Towers in Yeouido, Seoul, and met with Jo Joo-wan, CEO of LG Electronics; Jung Cheol-dong, CEO of LG Display; Kim Dong-myung, CEO of LG Energy Solution; and Moon Hyuk-soo, CEO of LG Innotek. Upon entering the building, Chairman Kallenius spoke with reporters, saying, "LG has been a strong partner of Mercedes-Benz for a long time," and added, "Please look forward to the great technologies that LG and Mercedes-Benz will create together."
On the afternoon of the 13th, Jo Joo-wan, CEO of LG Electronics, met with Ola K?llenius, Chairman of Mercedes-Benz, at the LG Twin Towers in Yeouido, Seoul. After their meeting, Jo Joo-wan explained to reporters the plans to expand collaboration between the two companies. Photo by Jang Hee-jun
After the one-hour meeting, CEO Jo Joo-wan spoke with reporters and explained, "While software-defined vehicles (SDVs) have been considered a key topic for the future, we discussed how the industry will now move toward AI-centric vehicles. We talked about how to overcome challenging environments and expand our collaboration."
He also expressed confidence regarding the fact that LG Electronics’ order backlog for automotive components has remained at a similar level after surpassing 100 trillion won in 2023. CEO Jo stated, "LG Electronics has about 100 trillion won in orders. Although the order amount will decrease as sales are recognized, we expect even larger orders to come in, leading to further growth."
On this day, executives from both sides discussed strengthening their partnership to realize Mercedes-Benz’s vision for "future mobility centered on electric vehicles" and a "flexible and sustainable global production network through digitalization." It appears that discussions included not only new supplies of automotive components produced by major LG affiliates but also ways to enter the Mercedes-Benz supply chain.
LG Electronics, LG Display, LG Energy Solution, and LG Innotek each introduced next-generation solutions in electric vehicle components, displays, batteries, and autonomous driving sensing to Mercedes-Benz. The goal is to elevate the existing level of cooperation, which spans internal combustion engine vehicles, electric vehicles, and software-defined vehicles, into a future mobility partnership.
LG and Mercedes-Benz executives met on the 13th at the LG Twin Towers in Yeouido, Seoul, to discuss expanding collaboration on automotive solutions. From left to right: Kulsat Kartal, Head of Mercedes-Benz R&D Korea Center; Ida Wolff, Head of Mercedes-Benz Corporate Division; Matthias Beitl, CEO of Mercedes-Benz Korea; Ola Kallenius, Chairman of Mercedes-Benz; Jo Juwan, CEO of LG Electronics; Jung Cheoldong, CEO of LG Display; Kim Dongmyung, CEO of LG Energy Solution; Moon Hyuksu, CEO of LG Innotek. LG Electronics
LG Electronics and Mercedes-Benz are jointly developing core solutions for the transition to SDVs, such as in-vehicle infotainment and advanced driver assistance systems (ADAS). They have co-developed an infotainment system based on organic light-emitting diode (OLED) technology, which features a panoramic curved screen across the entire dashboard, reflecting the growing trend of larger vehicle displays. This system has been installed in Mercedes-Benz’s premium electric vehicle model, the EQS.
Since 2020, LG Display has been seeking differentiation with its plastic OLED (P-OLED) for vehicles. Based on a flexible plastic substrate, it maintains excellent image quality while enabling curved designs.
LG Energy Solution has continued its cooperation on electric vehicle batteries, signing a supply contract worth 15 trillion won in September. LG Innotek, regarding the automotive components business as a future growth engine, is focusing its company-wide capabilities and is reviewing new collaborations in autonomous driving sensing, including vehicle camera modules, LiDAR, and radar.
Chairman Kallenius stated, "Mercedes-Benz believes that strategic joint partnerships are the driving force behind the future of next-generation vehicles. We share a vision with LG based on innovation, quality, and sustainability, and by combining the strengths of both companies, we are creating vehicles that set new standards in the global automotive industry."
CEO Jo Joo-wan said, "We will further solidify our partnership based on core competitiveness in the automotive components business, such as user experience-centric value, integrated SDV solutions, and proven technology and reliability in the global market."
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