Photonics HandbookThe News Wire
LG Innotek Invests in Aeva, Launches Sensing Collaboration
Aeva has established a strategic collaboration with LG Innotek, a technology manufacturer and affiliate of the LG Group, to develop sensing and perception solutions. The partnership includes a strategic investment by LG Innotek of up to approximately $50 million to bring production capacity online for Aeva’s next generation products.
The partnership will specifically combine Aeva’s perception platform, consisting of its frequency modulated continuous wave (FMCW) lidar-on-chip sensor, a custom processing system-on-chip and perception software, with LG Innotek’s global scale and cross-industry leadership. In addition to the automotive sector, Aeva and LG Innotek will co-develop products for the industrial automation market for use across industrial equipment operating indoors and outdoors. Also, Aeva and LG Innotek plan to pursue opportunities in robotics and consumer devices, such as smartphones, tablets, AR/VR headsets, smart appliances, and home robotics. The companies expect the partnership to lay the foundation to accelerate the adoption of Aeva’s FMCW 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.
Aeva currently partners with Daimler Truck North America, Torc, Nikon, and SICK, among others. The company established an Automotive Center of Excellence in Germany last year to support its momentum with automotive OEM customers.
LG Innotek's $50 million investment comprises the anticipated equity stake in Aeva, non-dilutive investment for new product development, and capital investments.
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