LG Electronics Honored as Top Supplier by General Motors 2024

LG Electronics Receives Prestigious Recognition from General Motors

Company Acknowledged for Innovative Excellence at GM's Event

LG Electronics, a prominent leader in mobility sector technology, has been honored with the title of 'Creativity Team Award' at the recent Supplier of the Year event organized by General Motors. This recognition underscores LG's dedication to redefining in-vehicle entertainment and connectivity.

A Testament to Commitment and Collaboration

"This latest recognition from GM serves as a testament to our commitment to developing and reliably supplying innovative automotive solutions," stated Eun Seok-hyun, president of the LG Vehicle Solutions Company. This acknowledgment not only reflects LG's innovative spirit but also emphasizes the collaborative partnership with GM, focusing on advancing automotive technology.

Understanding GM's Supplier Recognition

General Motors' Supplier of the Year awards highlight global suppliers who excel in various categories such as safety, innovation, execution, and resilience. The selection process involves a cross-functional global team that evaluates suppliers based on their performance throughout the year and their alignment with GM's core values and strategic objectives.

The Legacy of Excellence

For over three decades, General Motors has honored its top global suppliers at this prestigious annual event, shining a spotlight on their contributions and resilience in the face of challenges. Jeff Morrison, GM's global chief procurement officer, emphasized that together, they are pioneering advanced technology and offering an extensive array of vehicles to customers.

Since becoming a trusted partner to GM in 2006, LG has received accolades multiple times, having won the Supplier of the Year Award from GM on seven occasions. This consistent recognition highlights LG's capability to innovate and deliver cutting-edge solutions amidst evolving automotive demands. LG earned GM's Overdrive Award in 2016, 2022, and 2023, acknowledging its exceptional contributions within GM's Global Purchasing and Supply Chain framework. The Innovation Award was similarly bestowed upon LG in 2017 and 2020 for its remarkable efforts to enhance vehicle performance and elevate the customer experience.

Outstanding Achievements in Customer Care

In addition to the Supplier of the Year Award, LG has been acknowledged for its distinguished performance in customer service and aftersales parts supply. The company secured the On-Time Shipping (OTS) Award for three consecutive years starting in 2023, achieving an impressive OTS rate of 99% for parts supplied to GM North America from 2022 to 2024. Further, LG reached a flawless 100% OTS rate for service parts delivered to GM Korea and GM Brazil in 2023, earning the prestigious Platinum Award, GM's highest accolade for supplier performance.

2024 Supplier of the Year Event

This year's event recognized 92 suppliers from 12 countries who made GM's 2024 Supplier of the Year list, exhibiting excellence across various operations. The recognition is a significant milestone for LG Electronics, revealing its commitment to not just meeting but exceeding expectations.

About LG Electronics Vehicle Solution Company

The LG Vehicle Solution Company is pioneering LG's innovative human-centered advancements in the automotive arena. As a reliable partner in the industry, the company develops intelligent solutions, including head units, displays, connectivity technologies, ADAS vision systems, and sophisticated software for software-defined vehicles. Their endeavors focus on 'Driving Better Future Mobility' and enhancing capability through significant acquisitions such as the ZKW Group and vehicle cybersecurity venture, Cybellum, which pave the way for future innovations.

About General Motors

General Motors (NYSE: GM) is revolutionizing transportation through advanced technologies, aiming to develop safer, smarter, and more environmentally friendly vehicles. With a diverse portfolio that includes brands like Buick, Cadillac, Chevrolet, and GMC, GM is committed to ushering in an all-electric future. Their mission focuses on delivering cutting-edge gasoline-powered vehicles alongside the industry's most extensive range of electric vehicles.

Frequently Asked Questions

What recognition did LG Electronics receive from GM?

LG Electronics was awarded the 'Creativity Team Award' at GM's Supplier of the Year event, acknowledging its innovative contributions.

How many times has LG been recognized by GM?

LG has been honored by General Motors on seven separate occasions since 2014.

What awards did LG receive in recent years?

LG won the Overdrive Award in 2016, 2022, and 2023 and received the Innovation Award in 2017 and 2020.

What is the On-Time Shipping Award?

The On-Time Shipping Award is given for exceptional performance in customer care and aftersales parts delivery.

What is LG's future focus in the automotive sector?

LG aims to drive advancements in future mobility through innovative solutions and strategic partnerships.

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