LG closes its mobile division … to step on the accelerator of the electric car

Officially, LG has announced just a few days ago that it is closing its smartphone division worldwide. The decision responds to a refocusing of its business areas: now it will reinforce its role as a supplier to the food industry. electric cars, artificial intelligence and robotics.

Thus, the South Korean company has communicated that will invest more than 4,500 million dollars in the US through LG Energy Solution (owned by LG Chem), its electric car battery division and the world’s largest producer.

Targeting the American Automotive Industry

Lg Chem

LG has assured that this investment would create more than 10,000 new jobs and that the company would select locations for two battery plants in the first half of this year.

The South Korean company is also in talks with General Motors to build a second plant together with the manufacturer in the United States.

The objective of this strategy is to meet the demand for electric vehicles in the country and alleviate the serious shortage of semiconductors and components that is putting increasing pressure on the automotive industry.

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The announcement comes after the US ruled in favor of LG in a dispute with rival SK Innovation, over misappropriation of trade secrets.

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In this stage, On July 31, LG will say goodbye to its smartphone division, which has been surviving in a sea of ​​competitors.

“LG’s strategic decision to exit the incredibly competitive mobile phone industry will allow the company to focus resources on growth areas such as electric vehicle components, connected devices, smart homes, robotics and artificial intelligence, as well as other platforms and services.” said the Asian giant in a statement.

lg

The strategy makes sense since, in addition to being one of the world’s largest lithium-ion battery manufacturers, build car displays, cameras and other components that have served as inspiration in the sphere of the connected car.

So there is already one more technological opponent in the electric car race and connected together with Xiaomi, Apple, Sony or Foxconn. Outsiders in the automotive industry whose presence is increasingly noticeable, and necessary.

In the not too distant future, cars will be smartphones on wheels.

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