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LG RECOGNIZED AS 2024 SUPPLIER OF THE YEAR BY GENERAL MOTORS

1. LG awarded for innovation at GM's Supplier of the Year event. 2. Recognition highlights LG's consistent development of automotive solutions. 3. GM emphasizes partnerships that enhance technology and vehicle performance. 4. LG maintained a 99% on-time shipping rate for GM parts. 5. 92 suppliers recognized; LG holds multiple awards from GM since 2014.

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Why Bullish?

Recognition of LG enhances GM's technological reputation, potentially driving sales positively.

How important is it?

The article highlights LG's contributions to GM, strengthening GM's innovation image.

Why Long Term?

Sustained partnerships and innovation collaboration could improve GM's market position over time.

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Company Recognized for Innovation Excellence at GM's 33rd Annual Supplier of the Year Award, /PRNewswire/ -- LG Electronics (LG), a mobility sector technology leader, has been honored at General Motors' (GM) 33rd annual Supplier of the Year event in Arizona, USA, earning the coveted title of "Creativity Team Award" for redefining in-vehicle entertainment and connectivity. LG Recognized as 2024 Supplier of the Year by General Motors "This latest recognition from GM serves as a testament to our commitment to developing and reliably supplying innovative automotive solutions," said Eun Seok-hyun, president of the LG Vehicle Solution Company. "We look forward to strengthening our partnership as we continue to push the boundaries of automotive technology." GM's Supplier of the Year awards recognizes global suppliers for their execution across key categories like safety, innovation and resilience. A global cross-functional team makes award selections based not only on an organization's performance across 2024, but also their alignment to GM's core values and ambitious goals. "For more than 30 years, General Motors has recognized the company's top global suppliers at our annual event, spotlighting their innovation and resiliency through even the most challenging circumstances," said Jeff Morrison, global chief procurement officer at GM. "Together, we're helping bring advanced technology and the industry's broadest portfolio of vehicles to market for GM customers."LG has been a trusted partner to GM since 2006. The company was first recognized at GM's Supplier of the Year Award in 2014 and has now been honored by GM on seven separate occasions. This achievement highlights LG's ability to consistently develop and deliver cutting-edge solutions. In 2016, 2022, and 2023, LG received GM's Overdrive Award, an accolade reserved for suppliers that have made exceptional contributions within the framework of GM's Global Purchasing & Supply Chain operations. Additionally, in 2017 and 2020, LG earned the Innovation Award for its successful efforts to enhance vehicle performance and the customer experience.In addition to the Supplier of the Year Award, LG earned recognition for its outstanding achievements in customer care & aftersales parts supply, securing the On-Time Shipping (OTS) Award for three consecutive years starting in 2023. From 2022 to 2024, LG consistently maintained an impressive OTS rate of 99% for parts supplied to GM North America, earning the esteemed Gold Award. Furthermore, in April 2024, LG achieved a flawless OTS rate of 100% for service parts delivered to GM Korea and GM Brazil throughout 2023, earning the coveted Platinum Award, GM's highest accolade for supplier performance.This year, 92 suppliers across 12 countries made GM's 2024 Supplier of the Year list. For more information, visit news.gm.com.About LG Electronics Vehicle Solution CompanyThe LG Vehicle Solution Company (VS) is bringing LG's unique human-centered innovations to the automotive industry. As a trusted and innovative partner, the company provides intelligent solutions including head units, displays, connectivity, ADAS vision systems, and software solutions for software-defined vehicles. Committed to "Driving Better Future Mobility," the company has diversified its portfolio to further strengthen its capabilities. This includes the acquisition of automotive lighting systems provider ZKW Group and vehicle cybersecurity company Cybellum, as well as the establishment of the LG Magna e-Powertrain joint venture. For more news on LG, visit www.LG.com/global/mobility.About General MotorsGeneral Motors (NYSE:GM) is driving the future of transportation, leveraging advanced technology to build safer, smarter, and lower emission cars, trucks, and SUVs. GM's Buick, Cadillac, Chevrolet, and GMC brands offer a broad portfolio of innovative gasoline-powered vehicles and the industry's widest range of EVs, as we move to an all-electric future. Learn more at GM.com.SOURCE LG Electronics WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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