SEOUL, Dec. 27 (Korea Bizwire) — LG Electronics Inc. said Wednesday it has inked an agreement with mapping solution provider HERE Technologies in the latest move to tap deeper into the self-driving automobile solutions.
The South Korean company said HERE, which provides navigation solutions to some 100 million automobiles around the globe, is a suitable partner for LG, which recently set its eyes on what it calls “connected cars.”
HERE’s HD Live Map is capable of distinguishing street signs, street lamps, and other obstacles on roads, a key technology needed for autonomous vehicles.
“Through the cooperation with HERE, which holds top-notch mapping technology, we will set a new standard of the communication solution installed in self-driving cars,” LG Electronics said.
LG Electronics said it has been standing as the world’s top player in the field of the telematics since 2013, which refers to solutions that combine various communications technologies for automobiles.
LG Electronics said its vehicle components division has been making quarterly losses due to its aggressive investment into the segment. The vehicle components division posted an operating loss of 29 billion won (US$26.9 million) in the third quarter.