|LG Display to supply 'Cadillac EV' POLED... GM Trade Expansion|
LG Display's automotive display business is cruising. The first electric vehicle (EV) of Cadillac, a premium brand of General Motors (GM) in the US, will also be equipped with plastic organic light emitting diodes (POLEDs).
According to the industry on the 24th, LG Display is planning to supply 33-inch POLEDs to the Cadillac EV ‘Lyric’.
Previously, LG Display supplied 38-inch POLEDs to Cadillac’s large sports utility vehicle (SUV) ‘Escalade’. The central instrument cluster consists of 14-inch, 7-inch and 17-inch panels.
The electric SUV Lyric was unveiled last April. It is based on GM's modular electric vehicle platform Ultium Powertrain. There are 12 modules. It will be equipped with nickel, cobalt, manganese, aluminum (NCMA) batteries produced by Ultium Cells, a joint venture between GM and LG Energy Solutions (JV). The battery has a capacity of 100 kilowatt-hours (kWh) and a driving range of 300 miles (about 483 km) when fully charged.
In the case of Lyric, the market response is so positive that all of the prepared volumes were signed within 10 minutes of starting the pre-order on the 18th (local time).
GM plans to begin production of lyric at its Tennessee plant in the US in the first quarter of next year. Shipping is expected to begin in the first half of the year. LG Display is also expected to provide POLEDs on schedule.
LG Display is a strong player in the automotive display field. According to market research firm Omdia, LG Display accounted for 25.9% (based on sales) in the market share of high-value-added displays for vehicles over 10 inches in the first quarter. 1 in the industry for 11 consecutive quarters. If it is limited to OLED for electric use, it is a de facto monopoly system with more than 90%.
The secret is to dominate the market. In the process of expanding the business area from large OLEDs to small and medium-sized OLEDs, they started targeting the battlefield, which was a blue ocean. Due to the nature of the auto industry, which requires high reliability, it does not change partners well. This is a favorable condition for LG Display, which has dominated the market. This means that there is a high possibility that the transaction will continue with major customers such as GM, BMW, and Benz.
Until now, POLED has been used only for premium cars, and most of them have been applied to LCD. POLED has the advantage of being light and having high power efficiency. As it is self-luminous, it is advantageous in terms of visibility (easy identification). The use of POLED in EVs and autonomous vehicles is expected to increase in the future. This Lyric contract is the result of the same thing.
An official from the display industry said, “The size of the automotive display market has already grown to a level that is not small at more than 10 trillion won. As it has high growth potential in the future, it will have a positive impact on LG Display’s performance.”
Meanwhile, the alliance between LG Group and GM is expanding. Focusing on the battery JV, ?LG Magna (powertrain) ?LG Display (POLED), LG Innotek (converter), etc. are increasing their transactions with GM.