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LG Electronics Inc. will be teaming up with another company, and this time, it will be with Qualcomm Technologies Inc. The firms are collaborating to develop 5G automotive platforms, and this was confirmed by an LG executive.
The South Korean electronics company is aiming to expand its business, and one of its plans is to enter the automotive business. The company sees LG’s growth in this venture, so as a first step, it is partnering with the well-known American semiconductor, software, and wireless technology producer.
The new venture between world-renowned tech companies
As per Yonhap News Agency, LG Electronics and Qualcomm Technologies have agreed to collaborate for the creation of 5G wireless platforms that can be used for the futuristic next generation of connected automobiles.
The news of LG and Qualcomm’s plan to work together was revealed on Jan. 27. Together, they are aiming to produce and introduce some 5G connected auto services.
With regards to the partnership, the semiconductor maker said that its goal is to release reliable, connected, location-aware and intelligent vehicles for the not-so-distant future with international partners like LG, ZTE, and Continental AG. The South Korean tech company thinks that working with Qualcomm is also a good decision.
"As mobile innovation leaders, LG and Qualcomm Technologies are bringing decades of research and development experience to the automotive industry, specifically in the area of 5G automotive platforms," LG Electronics vice president, Park Jong Sun, said "Building on our long engagement with Qualcomm Technologies in the connected car segment, we believe 5G is vital to the deployment of a fully connected car platform."
The 5G auto connectivity is projected to become a common feature in vehicles. In fact, base on analytics, 75% of vehicles that will be sold in 2027 will have embedded cellular connectivity.
LG and Qualcomm’s history of partnerships
This is not the first time that LG and Qualcomm signed a deal for a new venture. The two companies have been working on some projects since 2004.
Their latest collaboration only happened in 2019 when they work together to further develop the webOS Auto, LG Electronic’s connected infotainment system in vehicles. Apparently, LG has been trying to strengthen its presence in the automotive solutions market for years now, and Qualcomm is able to help it achieve this plan.
