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| An LG Innotek employee poses with the company's electric vehicle communication controller and DC-DC converter, Tuesday. Courtesy of LG Innotek |
By Kim Yoo-chul
General Motors has reaffirmed the product quality of LG Innotek for the fourth straight year. LG Innotek said in a press release Tuesday that it has won the 2020 GM Supplier Quality Excellence Award (SQEA) once again.
LG Innotek's win is viewed as a possible contributing factor to help LG Magna e-Powertrain, a joint venture started days earlier between LG Electronics and Canada's Magna International, to appeal to its target clients including GM, BMW and Ford, according to sources.
As LG's technology units ― LG Display, LG Energy Solution, LG Innotek and LG Chem ― are already part of Apple's supply chain system, the venture, which is 51 percent owned by LG, is well-positioned to win initial volume orders for Apple's forthcoming first-generation EVs.
"With the award, LG Innotek demonstrated once again its quality leadership in the global automotive components market. This win is particularly meaningful in that the company has been nurturing the automotive components business as its future growth engine," the LG statement said.
LG Innotek has supplied DC-DC converters and electric vehicle communication controllers (EVCC) to GM since 2010 and has been recognized for the excellence of its products.
"The company's quality control has been recognized by major global car manufacturers and automotive component suppliers," it added. LG Innotek has made efforts to receive global certifications and participate in the development of relevant standards, raising the management level of its automotive components.
In order to compensate for LG's losses in the smartphone market, which it has now completely exited, LG is on track to pivot to the profitable electric vehicle (EV) industry. It will continue to focus on what it handles best ― electronics, only this time for car parts.
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