LG Electronics Inc. said Wednesday it is joining hands with Kakao Mobility Corp., the country's leading taxi-hailing firm, to develop mobility-related technologies and services, as the tech giant has been aggressively pushing to expand its business with the next growth engine.
The two tech firms recently signed a memorandum of understanding to work together to develop innovative technologies and nurture an ecosystem of the future mobility industry, LG said.
The two sides will cooperate on providing better user experiences in the mobility industry, delivery services by autonomous vehicles and smartphone solutions for pedestrian safety, among other things.
LG expected its expertise in infotainment systems, robotics, wireless communications to create great synergy with Kakao Mobility, which is competent in running mobile platforms and analyzing user data.
The two companies began their collaboration for future mobility early this year.
LG introduced LG Omnipod, a mobility concept solution that can serve as "a home office, an entertainment center or even a lounge," at a mobility tech conference hosed by Kakao Mobility.
The self-driving home on wheels is fitted with LG home appliances retooled for in-vehicle use and with artificial intelligence concierge services from Reah, the virtual influencer created by LG.
The Omnipod represents "LG's vision for futuristic autonomous, smart vehicles based on the company's strength in consumer appliances, display and vehicle components" the company said.
In July last year, LG Corp., the holding company of South Korea's fourth-largest conglomerate LG Group, said it will invest 100 billion won (US$87.9 million) in Kakao Mobility for future growth.
LG said the investment will allow its affiliates, LG Electronics and battery maker LG Energy Solution Ltd., to work in synergy with Kakao Mobility in the new growth sector.