LG Electronics Co., a South Korean home appliance maker, said Wednesday that it has completed the construction of a research and development center to focus on the development of automotive parts.
The R&D center will house 800 engineers to develop vehicle parts such as motors, inverters and converters for electric vehicles, it said.
Last month, LG Electronics, also the world’s third-largest smartphone maker, said it will establish a new business division called the Vehicle Components Business Division, as the automotive parts business is regarded as a new growth engine.
In 2011, LG Group and General Motors Corp. said they will jointly design and engineer electric vehicles, allowing the South Korean tech giant to expand its business portfolio as an automotive solution provider.
LG Chem Ltd., the group’s chemical unit, had forged a series of deals with the world’s major carmakers such as GM, Hyundai Motor Co. and Ford Motor Co. to provide batteries for their electric vehicles. (Yonhap News)
![[From the Scene] At this Starbucks, you need ID: Franchise opens store with view of North Korea](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/11/29/20241129050068_0.jpg)
