South Korean component giant LG Innotek will be the exclusive supplier of camera modules to Tesla for Cybertrucks, TheElec has learned.
Tesla plans to manufacture Cybertrucks only in the US and the South Korean parts maker will be supplying the modules from its factory in Mexico, sources said.
Approximately a million units of electric trucks are expected to be made, they added.
LG Innotek likely won the deal as its factory is close to Tesla’s in Austin, Texas.
However, Tesla’s annual capacity for the trucks is at 125,000 units per year as of October this year and this is expected to increase to 250,000 units in 2025, according to the US car giant.
LG Innotek is also competing with Samsung Electro-Mechanics in Tesla’s ‘Berlin Project’.
The Project will determine which company would supply camera modules for electric sedans that Tesla plans to sell in Europe.
The US EV giant has yet to choose its preferred vendor. Both South Korean component makers don’t have a main production hub in Europe and will likely wait for Tesla’s decision.
LG Innotek’s main production facilities are in North America and Samsung Electro-Mechanics’ is in China. However, LG Innotek could renovate its factory in Poland that makes other car components currently.
LG Innotek currently earns around 500 billion won from automotive camera modules per year and is aiming to increase this to 4 trillion won by 2030.