LG Electronics signed a string of mega-deals, including the supply of car parts for India’s No. 1 car maker Tata Motors.
According to industry sources on April 22, LG Electronics’ vehicle components division recently signed a deal with Tata Motors to design and supply frame molds for Tata’s new vehicles. The production of car frame mold will be outsourced to a small local company. The value of this contract titled “Project Eagle” is estimated at around US$30 million.
In addition to this deal, LG Electronics also signed another contract to supply rear lamps to Tata. LG Electronics will supply rear lamps as a primary supplier without using outsourcing.
In addition to Tata, LG Electronics has recently been aggressively expanding its car parts business, signing a string of large-scale supply deals with major car makers in the world, including Geely and Dongfeng (China), Volkswagen (Germany), and GM (the U.S.).
