LG Electronics India diversifies into automotive tech, reports 26% profit jump

LG Electronics India has marked a significant milestone by entering the automotive solutions market, capitalizing on robust financial performance in the second quarter. The company reported net profit of ₹489 crore, up 25.7 per cent year-on-year, while total revenue grew 19.5 per cent during the same period.

The electronics manufacturer plans to establish a manufacturing facility at Sri City to produce automotive infotainment and telematics solutions. This strategic move positions the company to tap into India's expanding automotive technology sector, which has seen rising demand for connected vehicle solutions and in-vehicle entertainment systems.

The diversification into automotive solutions represents an expansion of LG Electronics' product portfolio in India, aligning with global trends toward vehicle digitalization and smart mobility. The manufacturing facility will serve both domestic and export markets, leveraging Sri City's established industrial infrastructure and logistics advantages.

The strong quarterly performance underscores LG Electronics India's operational efficiency across its existing business divisions. The company's expansion into automotive technology reflects confidence in India's automotive sector growth and the rising consumer demand for advanced vehicle connectivity features.