LG Electronics Inc. said Tuesday it has received a supplier award from French automaker Renault SA as the South Korean tech powerhouse eyes to expand its presence in the vehicle component business.

LG was honored with an Innovation award at this year's Renault Supplier Awards for its vehicle display products.

This is the third time that LG has been recognized by Renault with a supplier award following its recognition in 2014 and 2017.

Renault praised LG's 9.3-inch center information display (CID) that provides high-quality visibility and design for users to enjoy in-vehicle infotainment systems.

LG has been supplying CID products for popular Renault models, including Clio, Captur, Arkana and its electric vehicle Zoe.

LG previously received similar honors from global automakers, including Hyundai Motor Group, Daimler Automotive Group and General Motors Co.

LG is trying to improve performance of its vehicle component solutions (VS) business amid the pandemic.

LG's VS unit posted sales of 1.66 trillion won ($1.39 billion) in the third quarter of the year, up 23.5 percent from a year ago, but its operating losses widened from 60.2 billion won to 66.2 billion won in the cited period. (Yonhap)