LG Electronics Chief Executive Officer (CEO) Ryu Jae-cheol unveiled plans to bolster the company’s robotics division by 2026. The centerpiece of this strategy is the completion of a mass production system for actuators, often described as the muscles of robots. Ryu confirmed that this technology will be directly implemented in LG’s smart home robot, CLOiD.
In a LinkedIn post on April 23, Ryu outlined the company’s expansion plans. Starting in 2027, LG aims to supply crucial components to global partners, broadening its market reach. By 2030, the company intends to solidify its position as a global leader in total actuator solutions by venturing into the industrial high-torque sector.
This announcement follows Ryu’s declaration at last month’s shareholders’ meeting, where he designated this year as the launch pad for LG’s robotics business, with a particular focus on actuator design and production.
Industry projections from Morgan Stanley suggest that the robotics market could balloon to 5 trillion USD by 2050, dwarfing the current global automotive industry by nearly twofold.
Ryu highlighted the shifting focus within the growing market towards key components, particularly actuators. These crucial parts, he noted, constitute approximately 40-50% of a robot’s total cost.
Actuators are the linchpin of robotic functionality, Ryu explained. They enable precise touch, weight support, and assembly capabilities in robots. He emphasized that ongoing advancements in actuator technology will be instrumental in driving both the growth of the robotics industry and enhancing robot performance.
Ryu underscored LG Electronics’ seven-decade legacy of expertise as a significant asset in their robotics venture. He pointed to the company’s strengths in scale, vertical integration, and operational efficiency.
LG has been designing and manufacturing its own engines since 1962, Ryu stated. Today, it has the capacity to produce 45 million motors annually across seven facilities in five countries. This scale, he asserted, gives LG a competitive edge in durability, reliability, and cost-effectiveness that rivals find challenging to match.
The CEO also emphasized LG’s strategy of leveraging proven technologies from its home appliance division and applying them to robotics.
Ryu introduced LG Actuator AXIUM, the company’s actuator brand for robots, describing it as an all-in-one modular platform. This innovation, he explained, accelerates development processes and enables efficient, reliable production of robotic joints.
In conclusion, Ryu stated that robots and their actuators are set to become integral to the daily lives. It views this not merely as a business opportunity, but as the response to evolving consumer needs.