LG Innotek is selected as an "Excellent Supplier" of Jaguar Land Rover

• LG Innotek becomes the first Korean company to win the JLR Supplier Excellence Award in 2023
• LG Innotek maintains JLR Quality Certificate (JLRQ) for three consecutive years
• JLR "LG Innotek's effort to continuously improve their products also improves JLR's products"

SEOUL, South Korea, July 3, 2023 /PRNewswire/ -- On July 3^rd, LG Innotek announced that the company has received the esteemed "Supplier Excellence Award" from the luxury automotive brand, Jaguar Land Rover (JLR). LG Innotek is the first Korean company to win the JLR Supplier Excellence Award.

Recognized for its outstanding performance in supplying automotive components, LG Innotek was honoured with the prestigious JLR Supplier Excellence Award in the "Impact" category. The award ceremony took place recently at the JLR headquarters in Gaydon, United Kingdom.

Each year, JLR Supplier Excellence Awards celebrate the remarkable achievements of its global supply chain. Only 16, including LG Innotek, were shortlisted as winners for this year's awards.

This year, the Supplier Excellence Awards were based on JLR's recently introduced Creators' Code values. JLR's purpose is to "Live the Exceptional with Soul" by being the proud creators of modern luxury. The awards were determined by evaluating the suppliers' adherence to JLR's Creators' Code, which consists of Customer Love, Unity, Integrity, Growth, and Impact.

Furthermore, LG Innotek manufactures automotive components in Wroclaw, Poland. Currently, they produce more than seven types of automotive components, including the mHEV DC-DC converter and Battery Management System, which are supplied to various JLR vehicles, including the all-new MLA-based Range Rover SUV.

This showcases LG Innotek's ability to consistently produce and supply automotive components with a robust quality management system, distinguishing the company from other suppliers during last year's global semiconductor shortage.

LG Innotek has already been acknowledged by JLR for the exceptional quality of its automotive components, such as the DC-DC converter, and has maintained the "JLR Quality Certificate" for three consecutive years.

Tobias MOCH, JLR Chief Procurement Officer, commented, "LG Innotek could have been nominated for any of the five supplier award categories but the way they innovate their products and improve their customer services makes an Impact award particularly appropriate" and added, "LG Innotek hugely support the JLR Product Development teams, continuously improving their products and, in turn, improving JLR's."

The JLR Supplier Excellence Award is expected to solidify LG Innotek's leading position in the global automotive components market and attract new clientele.

Additionally, LG Innotek's commitment to 'No. 1 quality' has been acknowledged by other global car and automotive component companies such as GM (USA), Continental, and Schaeffler (both from Germany).

Moreover, by obtaining the Cyber Security Management System (CSMS) certification last year, LG Innotek has enhanced trust among global clients. CSMS is a globally standardized certification that assesses a company's ability to handle cybersecurity threats, categorize them, and evaluate their response.

These efforts to pursue excellence in terms of quality and security, along with increased customer confidence, have led LG Innotek's Automotive Components Business Unit to achieve nearly a 60% increase in annual sales compared to 2020.

Byaengkuk YOO, Head of Automotive Components Business Unit, stated, "LG Innotek is at the forefront of producing reliable automotive components that provide highly differentiated customer value." He emphasized that, based on the credibility gained from global clients, LG Innotek, as a 'total solution provider' with a wide range of automotive component products—from automotive power modules to automotive cameras and LiDAR—will accelerate its efforts to establish a strong presence in the emerging components market for electric vehicles and autonomous vehicles.

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