LG Innotek to invest $67.9 mil. to expand car AP module facility

LG Innotek will invest 100 billion won ($67.9 million) to expand its manufacturing facility in Gwangju, adding production lines for automotive application processor (AP) modules as part of its effort to grow its automotive electronics business, the company said on Tuesday. The company signed a memorandum of understanding with the Gwangju Metropolitan Government to build the AP module production lines. With the expansion of the new facility, scheduled to open this December, the total floor area of the Gwangju site will reach about 97,000 square meters. Automotive AP modules are compact, high-performance system-on-chip units that act as the "brain" of a vehicle, integrating and controlling its electronic systems. This area is emerging as a new business for the company, which began development last year. With the rise of autonomous and connected vehicles, the global vehicle AP module market is projected to grow at an annual rate of about 22 percent. However, despite the growth outlook, only a handful of suppliers currently have production capabilities. LG Innotek has been moving quickly toWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times