LG Electronics said its R&D subsidiary in Hanoi, Vietnam will be strengthening LG’s growth in electric vehicle related business.
LG Vietnam will be developing and verifying software for in-vehicle infotainment (IVI) systems, which have been a major focus for the company’s mobility business. IVI systems, a key technology for future mobility that includes telematics and Audio, Video, Navigation (AVN) solutions, simultaneously provide a variety of driving-related information and entertainment functions.
According to market research firm Strategic Analytics, LG is leading the global market for IVI systems with a 23 percent share as of the third quarter of 2022. The company has now recorded a double-digit share of the IVI market for two years consecutively.
LG has strengthened R&D capabilities in Vietnam for automotive parts since it established the Hanoi R&D Center under its Vietnam Production Corporation in 2016. The company created an additional R&D branch office in Da Nang in 2020.
LG Electronics Development Vietnam will be boosting the number of skilled professionals by more than 30 percent, from 750 to 1,000 employees, by 2024.
Since 2021, LG has partnered with Vietnamese universities to foster young locals seeking careers in software development. These include the awarding of scholarships and guaranteeing employment for high-performing students at universities in Da Nang and neighboring cities. LG will expand the program to universities in Hanoi this year.
“We will provide mobility solutions that deliver value to our auto industry customers,” said Lee Sang-yong, senior vice president of R&D Laboratory at LG’s VS Company. “By boosting our infrastructure to the next level, LG will continue to further enhance our capabilities and develop next-generation, innovative mobility solutions.”