LG Electronics says it has developed an LTE-based autonomous driving technology as part of its ongoing effort to make a presence in the next-generation vehicle market.
Korea’s Yonhap News Agency reports that, on top of its mainstay handset and home appliance businesses, LG Electronics has stepped up efforts to diversify its portfolios, a move aimed at securing new growth engines.
Under the LTE V2X (vehicle to everything) technology, the company wants to enable vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I) and vehicle-to-person (V2P) communications at high speeds using long-term evolution (LTE) networks, it said.
The report quotes a company official as saying, “We will make an extra effort to further develop the driverless driving technologies for the commercialisation of the LTE V2X. Based on the latest technology, we will take the lead in the 5G-based V2X technologies required to produce connected vehicles.”
It has announced a plan to invest 28.6 billion won (US$26 million) in an American plant that produces battery packs and motors for electric cars. It also reportedly plans to acquire a vehicle lighting company ZKW in a consortium with LG Group, according to the company.