- Ansys (NASDAQ: ANSS) is going to be supplying simulation solutions to LG Electronics to help strengthen its sustainability and digital transformation efforts. These are the details.
Ansys (NASDAQ: ANSS) is going to be supplying simulation solutions to LG Electronics to help strengthen its sustainability and digital transformation efforts by integrating virtual R&D simulations based on computer-aided engineering (CAE) into the earliest stages of product development. And the integration will increase engineering and product efficiency while reducing development time, the need for physical prototyping, and the costs associated with it. This collaboration will be supported by a new five-year enterprise license agreement, which provides LG Electronics with continued access to Ansys’ top-tier simulation solutions, building upon a longstanding relationship and previous agreement.
Ansys simulation solutions is going to support LG to accelerate and optimize product development in its core technologies and sectors like healthcare, sensors, equipment, and materials — which are major technology areas for LG Electronics’ digital transformation. For example, Ansys’ virtual model capable of 1D–3D coupling can support LG Electronics to develop the dynamic characteristics of the compressor, a core module of home appliance products, which expanded design options. With a predictive accuracy of more than 95% on performance, Ansys’ simulation solutions enabled resource-efficient production that streamlined product development more sustainably by significantly reducing material use, costs, and multiple redesigns.
This partnership with LG Electronics proved its impact during the pandemic as Ansys provided engineers at LG Electronics with access to the Ansys Learning Hub to gain critical simulation training virtually while in-person contact and on-site resources were limited. Under the new agreement, the companies will expand collaborative innovation through joint technology seminars, conferences, and other opportunities.
KEY QUOTES:
“With proactive support from Ansys, we can streamline workflows and introduce high-quality, next-generation products faster than expected. We are confident in our shared growth opportunities and look forward to seeing future developments. Just as importantly, we will lessen our carbon footprint and move digital transformation forward.”
— Daehwa Jeong, executive vice president and head of PRI (Production engineering Research Institute) at LG Electronics
“By applying Ansys’ CAE and advanced simulation solutions, including artificial intelligence/machine learning (AI/ML), high-performance computing, digital twins, optics, and the healthcare vertical, Ansys will undoubtedly help LG Electronics to advance product development, while supporting sustainability and digital transformation. Any collaboration between LG Electronics and Ansys — whether creative, strategic, or technological — is inspired, timely, and a win-win for both companies.”
— Prith Banerjee, chief technology officer at Ansys
