LG, HERE Technologies tie up to provide solutions for self-driving car tech

LG Electronics Inc on Wednesday said it has inked an agreement with mapping solution provider HERE Technologies to tap deeper into self-driving automobile solutions.

The South Korean company said HERE, which provides navigation solutions to nearly 100 million automobiles around the globe, is a suitable partner for LG, which recently set its eyes on what it calls "connected cars", Yonhap news agency reported.

HERE's "HD Live Map" is capable of distinguishing street signs, street lamps and other obstacles on roads, a key technology needed for autonomous vehicles.

"Through the cooperation with HERE, which holds top-notch mapping technology, we will set a new standard of the communication solution installed in self-driving cars," LG Electronics was quoted as saying.

LG Electronics said it has been standing as the world's top player in the field of telematics since 2013, which refers to solutions that combine various communications technologies for automobiles.

LG Electronics said its vehicle components division has been making quarterly losses due to its aggressive investment in the segment.

The vehicle components division posted an operating loss of $26.9 million in the third quarter.