According to Etnews, LG Innotek will supply more than 1 trillion won worth of cameras to Tesla, and the supply contract will be completed and mass production will begin in the first quarter of this year.
The report pointed out that LG Innotek's cameras will be installed on Tesla's Model Y and Model 3 for North American and European markets, as well as the upcoming electric truck SEMI.
Previously, Tesla sourced cameras from China and the United States, but affected by the trade war between China and the United States, Tesla has shown great concern for South Korean companies. Last year, Tesla signed a 490 billion won contract to supply camera modules with Samsung.
According to the report, LG Innotek supplied Tesla for the first time last year, but the supply was only tens of billions of won. Once this year’s contract is completed, the transaction scale will be 10 times that of last year, which will be of great benefit to LG Innotek.
The report also pointed out that LG Innotek will become Tesla's core parts supplier if the supply is completed within the first quarter. Production of the cameras is expected to take place at LG Innotek's Mexico factory.
