Aeva Technologies Inc, a US-based developer of next-generation sensing and AI-based “perception” systems, has recently announced a strategic collaboration agreement with LG Innotek, an electronics manufacturing affiliate of South Korea’s LG Group. This partnership is set to revolutionize the industry with a strategic investment of up to US$ 50 million in Aeva by LG Innotek.
The collaboration between Aeva and LG Innotek includes the acquisition of an equity stake, a non-dilutive investment for new product development, and capital investments to enhance production capacity for Aeva’s next-generation products. Aeva expressed excitement about the collaboration, stating that it will accelerate the commercialization of its breakthrough Frequency Modulated Continuous Wave (FMCW) perception platform across various industries such as automotive, industrial automation, robotics, and consumer devices.
The partnership aims to propel the adoption of Aeva’s FMCW-based perception platform into Physical AI, where intelligent systems equipped with sensors, processing, and AI software can perceive, understand, and interact with the physical world in real time. By combining Aeva’s cutting-edge perception platform with LG Innotek’s global scale and cross-industry leadership, the two companies plan to develop new sensing and perception solutions for automotive and other sectors.
In the automotive sector, LG Innotek will manufacture and supply the Aeva Atlas™ Ultra 4D LiDAR sensor to Aeva for use in multiple vehicle models, including a development program with a top 10 global passenger vehicle manufacturer. LG Innotek is already a key supplier of optical sensing solutions for leading car makers, making this collaboration a significant step towards innovation in the automotive industry.
Hyuksoo Moon, CEO of LG Innotek, emphasized the long-term vision of the partnership, stating that the goal is for LG Innotek and Aeva to lead the next-generation LiDAR market through continuous technological advancements. He highlighted LG Innotek’s commitment to expanding its LiDAR product lineup to solidify its position as a total mobility solution provider globally.
Overall, the strategic collaboration between Aeva Technologies and LG Innotek marks a significant milestone in the advancement of sensing and perception technology. With a focus on innovation and industry leadership, the partnership is poised to drive meaningful change and set new standards in the automotive and technology sectors.
