Established’Aluto’ with Swiss Looksoft
‘Acceleration pedal’ as the former powerhouse in electronic equipment
President Park Il-pyeong “Innovation beyond boundaries
LG Electronics is speeding up strengthening the competitiveness of automotive electronics (electronic equipment) through strategic cooperation with global companies.
LG Electronics announced on the 12th (Eastern Time in the US) that “Aluto, a joint venture with the global software company Looksoft, will be established on the 27th” at the world’s largest IT and home appliance exhibition’CES 2021′.
Headquartered in Switzerland, Looksoft is strong in developing software related to automotive financial information technology (IT). Based on LG Electronics”Web OS Auto’ platform, Aluto plans to introduce a’integrated infotainment system’ (a device that controls functions such as entertainment, information, and driving) including a car head unit and rear seat entertainment system. .
LG Electronics President Park Il-pyeong (Chief Technology Officer, photo) said, “I will lead the new normal era by re-creating a vehicle into a new space and creating a new experience” at the’LG Future Technology Conference’ held at CES 2021.
President Park expressed his intention to actively engage in’collaboration across industry boundaries’ and’open innovation (open innovation)’ to strengthen business competitiveness. He said, “To lead the innovation, we must think and execute in a different way than before. We will compete with platform competitiveness and open innovation strategies across sectors to accelerate digital transformation and innovate customer value,” he said.
LG Magna, a joint venture between LG Electronics and Magna, the world’s third-largest auto parts maker, is also expected to speed up the electric vehicle powertrain business. Senior Director James Tobin Magna appeared at a media event that day and emphasized synergy with LG, saying, “The list of clients of the joint venture will be expanded in the future.” “LG Electronics has a large-scale production capacity in motors and inverters, which account for 70% of the electric vehicle powertrain system cost,” he said. “Vertical integration with Magna will enable success in the electric vehicle market.”
Reporter Hwang Jeong-soo [email protected]
Ⓒ Hankyung.com prohibits unauthorized reproduction and redistribution