LG Electronics' shares surge 24% after showing automotive innovations using Google tech
LG Electronics' shares experienced a significant surge following the announcement of new automotive innovations utilizing Google technology. The company's solutions, based on Android automotive operating systems, allow for the simultaneous control of multiple displays. This innovation is expected to reduce costs for automakers deploying multi-display systems in vehicles.
- ▪LG Electronics' shares surged by 23.95% after announcing automotive innovations with Google technology.
- ▪The new solutions are built on Android automotive operating systems and can control multiple displays simultaneously.
- ▪The global Android automotive OS market is projected to grow from $895.6 million in 2025 to $2.14 billion by 2035.
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Shares of LG Electronics surged as much as 23.95% after the company announced a series of automotive innovations built with technology from Alphabet Inc.'s Google. The South Korean company said its new range of solutions is built on Android automotive operating systems. Its system can control multiple displays with different aspect ratios at the same time by using a single-on-chip, which is different from other conventional in-vehicle display systems, LG said. "The solution supports automakers to significantly reduce the cost of deploying multi-display in-cabin systems," LG said. Android automotive operating systems are in demand, as they enable drivers to access apps in their vehicles without the use of smartphones.
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