LG Electronics said that it has secured 8 trillion won ($6.1 billion) worth of new orders for electric vehicle (EV) parts and solutions in the first half of this year, a sign that its new growth engine is gaining ground.
While the South Korean tech company did not reveal the details of the new orders, it is believed to have added new orders for its in-vehicle infotainment system as well as its telematics solutions used for vehicle communications.
LG’s vehicle solutions business is estimated to have an accumulated order backlog of 65 trillion won by the end of the year, up 8 percent from a year ago, reports Yonhap news agency.
The business has made great strides in recent years. Sales jumped 24 per cent last year from a year ago, despite a drop in car production amid global chip shortages.
