Verification from leading certification organisation confirms company’s commitment to protecting its vehicle components against evolving cyber threats
SEOUL, Mar. 25, 2024 — LG Magna e-Powertrain (LG Magna), the joint venture of LG Electronics (LG) and Magna International (Magna), announces it has received Cyber Security Management System (CSMS, ISO/SAE 21434:2021) certification from global certification organisation, TÜV Rheinland. The certification indicates LG Magna is in compliance with relevant vehicle cybersecurity regulations and requirements and has implemented a security system covering component design, development, post-development cybersecurity activity and management.
An area of growing importance, automotive cybersecurity is set to take center stage in the mobility sector when WP.29 UNECE R155 cybersecurity regulations come into effect. From July 2024, all vehicles produced by automotive OEMs must meet the newly established suite of cybersecurity management regulation to obtain type approval, which is a prerequisite for selling vehicles in 56 countries, including EU member states, the UK, Japan, and South Korea.
Countries that have adopted the regulation require automakers to prepare all components and systems for cybersecurity threats throughout the entirety of the vehicles’ lifecycles. ISO/SAE 21434, an international standard related to vehicle cybersecurity, defines the processes for establishing and maintaining cybersecurity, from the planning and development stage through to vehicle manufacturing, maintenance, and disposal.
LG Magna is setting up a cybersecurity framework to ensure it can meet the increasing demand from global automakers for advanced, secure vehicle components. The company has created an exhaustive cybersecurity process that is applied, and systematically updated, across the life of each product. The process includes identifying and assessing product security threats and developing appropriate response strategies in line with ISO/SAE 21434 requirements. Additionally, risk monitoring systems and processes for swift issue remediation have been put in place.
LG continues to expand its presence in the global automotive components and solution market. The Vehicle component Solutions (VS) Company is acknowledged for its capabilities in in-vehicle infotainment (IVI) systems, LG Magna is recognised for contributions in electric vehicle powertrains, while ZKW is a leader in vehicle lighting systems. Established in 2021, LG Magna has further solidified its position as a trusted vehicle components supplier by securing CSMS certification.
“With vehicle cyberattacks on the rise, the demand from automakers for component solutions that ensure robust cybersecurity is growing at a rapid pace,” said LG Magna CEO, Cheong Won-suk. “As a major global vehicle parts supplier, LG Magna aims to proactively address any security vulnerabilities and continuously strengthen its systems and processes.”
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About LG Electronics Vehicle component Solutions Company
The LG Vehicle component Solutions Company is bringing human-centric innovations to the automotive industry. Having secured its position as a trusted and innovative partner, the company continues to provide intelligent and environmentally responsible solutions including in-vehicle infotainment, display, connectivity, ADAS and software solutions for Software Defined Vehicles. Through its firm commitment to “Driving better future mobility,” the company is diversifying its portfolio to further strengthen its capabilities with acquisitions including automotive lighting systems provider, ZKW Group and vehicle cybersecurity company Cybellum, as well as the joint venture, LG Magna e-Powertrain. For more news on LG, visit www.lg.com/global/mobility.
About LG Magna e-Powertrain
LG Magna e-Powertrain launched in July 2021 as a joint venture between LG Electronics and Magna. We are driven by the strong synergy created by combining LG’s capability in EV component and Magna’s experience in traditional automotive business. Based on the technologies and manufacturing competitiveness on key components of EV powertrain ─ motors, inverters, converters, IPGM, and more ─ we are growing into a top e-mobility solutions partner leading the rapidly changing EV component market. More than 1,900 LG Magna employees in Korea, North America, Europe, South America, and Asia are working organically throughout technology innovation, marketing, R&D, purchasing, and manufacturing.
For more information, please visit www.lgmagna.com and follow us on LinkedIn “LG Magna e-Powertrain”.
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