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Putting the Spotlight on Future Mobility
According to the report Global EV Outlook 2021, sales of electric vehicles (EV) around the world grew 41 percent in 2019 and despite the downturn in overall car sales in 2020 due to the pandemic, EV sales still managed to increase 4.6 percent in 2020. It’s this USD 120 billion industry that LG had in mind when it launched its Vehicle component Solutions (VS) Company in 2013 to target the growing trend of electrified vehicles. Now eight years on, LG is seeing a very bright future for its EV-focused business unit, reporting a compound annual growth rate (CAGR) of 21.2 percent in period covering 2019 to 2020.
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