LG Electronics has signed a deal to supply vehicle parts for Tata Motors. The electronics company will supply frame molds for Tata's new vehicles.
According to industry sources, LG's vehicle components division has signed a deal with Tata Motors to supply the frame molds.
The production of these car frame mold will be outsourced to a small local company. This contract is called "Project Eagle" and is estimated at around USD 30 million.
Apart from molds, LG has also agreed to sell tail lamps to Tata Motors. This will be supplied directly by LG, without using other sources.
Apart from Tata Motors, LG has signed agreements with other carmakers like China based Geely and Dongfeng, German carmaker Volkswagen and the US based GM. LG has recently been aggressively expanding its automobile business.