LG Innotek came through a competition of 500 to 1 among automotive parts manufacturers and was recognized as the best company by Schaeffler Automotive Group (hereinafter Schaeffler) in Germany. The company today announced that it was selected as the best supplier in the Schaeffler Supplier Day 2016 held by Schaeffler.
Only 10 out of Schaeffler's 5,000 partner companies around the world are selected as the best supplier. A company can be selected as the best partner only when its competitiveness in the automotive components business is recognized by Schaeffler. Schaeffler rigorously evaluates its partners in all areas including quality, reliability, price, and innovativeness. Schaeffler is a global automotive components and bearing manufacturer whose headquar-ters is located in Germany. Its sales were approx. €13.2 billion last year. The automotive components that Schaeffler purchases from its suppliers amount to approx. €7.8 billion.
LG Innotek began to develop components for precision fuel control with Schaeffler in 2014. Recently, the company expanded its cooperation with Schaeffler to motors for automotive. The company was recognized for its technology in the process of carrying out projects with Schaeffler. With the selection of LG Innotek as the best partner by Schaeffler, the company's customer base has expanded still further. With this, the company secured its position as a main partner for two major German companies. The company was also selected as the best partner by Continental Automotive Group last year.
Also, LG Innotek received the 2016 GM Supplier Quality Excellence Award last July, proving its quality management capability to the level of zero quality defects. This means that the quality of the automotive components manufactured by the company was also recognized by an automotive manufacturer. The reason why LG Innotek was recognized as the best partner in global automotive com-ponents industry is that the company specialized in automotive components in all sectors of the company including R&D, production, quality assurance, and marketing. Based on this focused approach, the company has realized the quality level required by its customers. As automotive components are directly related to the safety of a driver, product quality is of utmost importance. Once the parts are determined to be supplied to the customers, you need to supply them for 10 years or more. So, the quality inspection procedure is very rigorous and fastidious in all production stages from development to shipment.
Jong-gu Keum, a vice president of LG Innotek’s automotive marketing, said, “Based on the technology and quality inspection procedure optimized for automotive, we will continue to develop core automotive components so that you can enjoy a convenient, safe and comfort-able driving.”