Final answer:
Link Local IPv6 addresses are auto-generated and essential for local network device communication without needing a centralized system.
Step-by-step explanation:
TRUE. Link Local IPv6 addresses are indeed auto-generated. They are designed to enable devices on the same local network to communicate with each other. These addresses are automatically configured on all IPv6-enabled devices and are derived from the device's MAC address using a process called Stateless Address Autoconfiguration (SLAAC). This process helps devices to self-configure an IP address that is guaranteed to be unique on the local network segment without the need for additional centralized configuration systems like DHCP.