LG Electronics India enters automotive solutions market
The company will manufacture in-vehicle infotainment and telematics systems at its Sri City plant in Andhra Pradesh.
LG Electronics India has announced its entry into the automotive and mobility sectors through a new Vehicle Solutions Business, according to an exchange filing reported by ANI and The Tribune.
The company plans to enter the business-to-business (B2B) automotive segment by providing telematics and in-vehicle infotainment (IVI) solutions. This move aims to bring LG Korea's global B2B automotive business to the Indian market.
The new division will handle the production, assembly, sale, and distribution of various mobility technologies, including software and components. These products will be produced and supplied from the third LG Electronics India plant located in Sri City, Andhra Pradesh.
The company stated that investments will be carried out in a phased manner depending on market conditions, regulatory requirements, and technology needs. This expansion is intended to provide access to growing demand for intelligent mobility solutions and digital cockpits.
In its Q2 FY27 results released on Thursday, the company reported a 25.7 per cent year-on-year growth in profit after tax, which stood at Rs 489 crore. Revenue from operations increased by 19.5 per cent to Rs 73.80 crore, up from Rs 61.74 crore in Q2 FY26.
EBITDA rose 28 per cent year-on-year to Rs 701 crore, while margins expanded by 63 basis points to 9.5 per cent. At the time of reporting, shares of LG Electronics were trading at approximately Rs 1814.65, up 7.19 per cent.