LG Corp.'s subsidiary, LG Innotek, has entered into a strategic partnership with Aeva, a U.S.-based company specializing in LiDAR technology, to advance the next-generation LiDAR market. The partnership aims to preempt the market through the strategic supply and joint development of ultra-slim, ultra-long-range 4D LiDAR technology for autonomous driving, robots, and industrial automation. As part of the collaboration, LG Innotek plans to invest up to USD 50 million, including acquiring a 6.0% equity stake in Aeva. The roadmap for this partnership was announced at the 'Aeva Day' event in New York, where key executives from both companies discussed the significance and future strategies of their collaboration. This alliance underscores a shared vision to leverage Aeva's perception platform across various applications, enhancing machines' ability to understand their surroundings.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.