HCMC – South Korean electronics conglomerate LG has put a research and development (R&D) center into operation in Hanoi City to boost its investment in the auto parts industry.
The firm said on March 9 that it would step up R&D activities in Vietnam to serve the rapid growth of the electric vehicle part segment, the Vietnam News Agency reported.
Its new R&D center will focus on developing software and checking auto parts and telecom and sound devices.
LG expects the new facility to consolidate its R&D infrastructure and increase its competitiveness in Vietnam.
The South Korean firm said it would raise its number of highly skilled workers in Vietnam by over 30%, from 750 to 1,000, in 2024.
In 2020, LG opened an auto part R&D center in Danang City to beef up its electric car business. The firm sees the investment in e-car parts as one of its key business activities.