Electric vehicle (EV) giant Tesla has recently given out orders for camera modules, TheElec has learned.
LG Innotek, Samsung Electro-Mechanics and their Taiwanese rivals are taking part in the bid to win orders, sources said.
Tesla has given out orders for camera modules it plans to use in Model S, Model 3, Model X and Model Y.
It has also given out orders for its yet-to-be-launched Semi, its electric truck, and Cybertruck, its electric pickup truck, sources said.
The orders will be worth billions of dollars as Tesla is ordering camera modules it plans to use for this year’s models as well as those for 2023, they said.
The bidding process is expected to be completed within the first quarter.
LG Innotek is the biggest supplier of camera modules to Tesla; the company supplied 60% to 70% of the modules used by the US EV giant last year. Samsung Electro-Mechanics, in turn, had supplied 30% to 40%.
One EV uses a total of eight camera modules, with the ones being used in the front of the car being mode expensive.
Samsung Electro-Mechanics is expected to win more orders this year than before as Tesla is expected to procure camera modules from more suppliers to cut unit prices, the source said.
The US EV maker is expected to ship up to 2 million units of EVs this year, they said. Tesla said earlier this month that it shipped 936,172 units in 2021, with Model 3 and Model Y accounting for 97% of that total.
Meanwhile, LG Innotek is expected to win orders to supply modules for Cybertruck __ it failed to win any for the car model last year, losing out to Samsung Electro-Mechanics and a Taiwanese rival.
In the end, Samsung Electro-Mechanics won over the Taiwanese rival and won the order worth 490 billion won to supply camera modules to be used in Cybertruck.
A single camera module costs slightly over US$10 __ supplying for one unit of Tesla’s EV will give the supplier around US$100 in revenue.