LG Electronics Honored as General Motors' 2024 Supplier of the Year for Innovation Excellence

LG Electronics Honored as Supplier of the Year by General Motors

In an impressive display of innovation and commitment to quality, LG Electronics has been recognized as General Motors' (GM) Supplier of the Year for 2024. The award was presented during GM's 33rd annual Supplier of the Year event held in Arizona, celebrating LG's cutting-edge contributions to the automotive sector. The coveted recognition came in the form of the 'Creativity Team Award,' acknowledging LG's efforts in transforming in-vehicle entertainment and connectivity.

Eun Seok-hyun, president of LG's Vehicle Solution Company, expressed gratitude for the award, stating, "This recognition from GM validates our dedication to developing and supplying innovative automotive solutions that enhance user experience and vehicle performance. We are eager to deepen our partnership with GM and continue pushing the boundaries of automotive technology."

GM's Supplier of the Year awards aim to highlight exceptional suppliers who demonstrate excellence across various categories, including safety, resilience, and innovation. The selection process involves a global, cross-functional team evaluating supplier performances based on their alignment with GM's core values and strategic objectives.

Jeff Morrison, GM's global chief procurement officer, articulated the importance of these awards over the years, emphasizing how they spotlight top suppliers who navigate challenges effectively. "For more than 30 years, General Motors has acknowledged its top suppliers at this event, illustrating their ability to innovate and maintain operational resilience," Morrison said. "Together, we are making strides in bringing advanced technologies and a diverse range of vehicles to consumers."

This year marks LG's seventh recognition from GM since they became partners in 2006, having first earned the Supplier of the Year Award in 2014. It's a testament to LG's ongoing commitment to developing advanced solutions that meet the evolving needs of the automotive market. LG's accolades include the Overdrive Award, given to those who significantly impact GM's Global Purchasing Supply Chain operations, awarded to LG in 2016, 2022, and 2023. Furthermore, the company has received GM's Innovation Award for its success in enhancing vehicle performance and user experiences on multiple occasions, specifically in 2017 and 2020.

Beyond the Supplier of the Year recognition, LG has excelled in customer care, earning the On-Time Shipping (OTS) Award for three consecutive years starting in 2023, with an impressive OTS rate of 99% for parts supplied to GM North America. In April 2024, LG achieved a flawless 100% OTS rate for service parts delivered to GM Korea and GM Brazil throughout 2023, leading to the prestigious Platinum Award – GM's highest recognition for supplier performance.

This achievement places LG among the elite 92 suppliers across 12 nations recognized in GM's 2024 Supplier of the Year list.

About LG Electronics Vehicle Solution Company

The LG Vehicle Solution Company specializes in delivering innovative, human-centered solutions to the automotive industry. As a reliable and creative partner, they offer a variety of intelligent automotive technologies, including head units, displays, connectivity solutions, Advanced Driver Assistance Systems (ADAS), and software capabilities for software-defined vehicles. To bolster its range of services, LG has recently expanded its portfolio through strategic acquisitions like ZKW Group, specializing in automotive lighting systems, and Cybellum, which focuses on vehicle cybersecurity. They also established a joint venture, LG Magna e-Powertrain, to enhance their capabilities in the rapidly changing automotive landscape.

For further insights and updates on LG Electronics' ongoing innovations, visit www.LG.com/global/mobility.

About General Motors

General Motors (NYSE: GM) is committed to shaping the future of transportation through advanced technologies aimed at ensuring safer, smarter, and lower-emission vehicles. GM's brands, which include Buick, Cadillac, Chevrolet, and GMC, are at the forefront of providing a diverse portfolio of innovative gasoline-powered and electric vehicles, paving the way toward an all-electric future. Discover more about GM's innovative solutions at GM.com.