LG Display will supply information displays for Tesla Motors’ new Model 3 sedans, a person with direct knowledge of the matter said, grabbing a key contract for centre consoles from another supplier.
Tesla said on Thursday over 130,000 people had ordered the electric car in a couple of hours although it is more than a year away from production. With a $35,000 (roughly Rs. 23 lakhs) starting price – less than half Tesla’s Model X – the vehicle is critical to the Silicon Valley automaker’s growth plans.
(Also see: Tesla Model 3 Is Headed to India)
The order is a feather in LG Display’s cap as it seeks to expand further into auto electronics which offer higher margins and more stable earnings prospects than consumer products.
The Model 3 prototype features a huge, tablet-like information screen on the center console, reflecting the trend towards bigger in-car displays that offer more features.
“LG Display is a sole supplier for the 15-plus inch centre display of Model 3,” said the source, declining to be identified as he was not authorised to speak on the matter.
Another company currently provides centre information displays for Tesla’s Model S and Model X, he added.
An LG Display spokeswoman declined to comment. A Tesla spokeswoman did not have immediate comment.
© Thomson Reuters 2016