On June 13th, Hyundai announced the formation of an automotive alliance with Samsung, SK, and LG to develop more competitive electric vehicles by integrating their respective advantageous resources.
It is reported that Samsung will mainly provide semiconductor solutions for autonomous driving systems; SK will mainly provide power battery solutions; while LG will mainly provide OLED information panels and other products.
Note: The newly established alliance is expected to further expand business for the companies. Samsung spends huge sums on research and production of automotive application processors every year, while Samsung Electro-Mechanics is currently increasing investment in the development of multi-layer ceramic capacitors (MLCC) for electric vehicles.
Several departments under LG will also participate in the operation of the alliance, with LG Display supplying screens, LG Innotek supplying camera modules, LG Magna supplying powertrains, and LG Electronics responsible for in-car systems.
