LG and Samsung competing for Tesla camera orders: Report

According to a report by The Elec in South Korea, both LG Innotek and Samsung Electro-Mechanics are competing for Tesla camera model contracts.

So far, LG Innotek has had around 60 to 70 per cent of the work from Tesla. However, Samsung Electro-Mechanics made headlines last year when it was reported they had signed a $435.7 million deal to supply Tesla with their camera modules.

According to industry sources, LG Innotek, Samsung Electro-Mechanics and a couple of Taiwanese companies were bidding for more camera module contracts this week.

The bidding was for the entire line-up of Teslas, including the Model S, Model 3, Model X and Model Y, and unreleased vehicles like the Tesla Semi and Cybertruck.

Each Tesla model includes at least eight camera modules. The front camera module is the most expensive, while the side and rear cameras are generally cheaper to produce.

Many in the industry believe that Samsung will take a more significant chunk of this latest bid. Some even believe that their share could approach 50 per cent.

The report also states Tesla hopes to deliver between 1.5 to 2 million vehicles in 2022, without providing a source for the figures.

Each camera module averages out to $10 per unit for a total of $100 per vehicle including the more expensive front camera.

With a low end 1.5 million cars, that means the total contract could be worth as much as $150 million or as much as $200 million.

Source: The Elec

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