Over 1 trillion won! LG Innotek will sign a camera contract with Tesla

On January 17, according to foreign media reports, LG Innotek will provide Tesla with electronic cameras worth more than 1 trillion won (about 5.3 billion yuan), and the supply contract will be completed and mass production will begin in the first quarter.

Tesla cars

It is reported that the cameras provided by LG Innotek will be installed on Tesla's Model Y and Model 3 in the North American and European markets, as well as the upcoming electric truck SEMI. LG Innotek will become Tesla's core component supplier if the supply contract is completed within the first quarter, and given the distance from Tesla's Austin plant, the production is expected to take place at its Mexican plant.

LG Innotek began supplying Tesla last year, but the supply at that time was only tens of billions of won, so the camera contract was successfully completed, and the transaction size would be 10 times that of last year. It is worth mentioning that there was previous news that LGinnotek will supply apple cars, including components such as cameras and radars.

With Tesla's Texas Gigafactory about to begin operations, Tesla has ordered large parts to diversify the supply of key components for electric vehicles in order to ensure the stability of the production supply chain. In addition to its partnership with LG Innotek, Tesla signed a 490 billion won (about 2.6 billion yuan) camera module supply contract with Samsung Motor last year.