Aeva Technologies Inc, a US-based developer of next-generation sensing and AI-based “perception” systems, has announced that it has signed a broad-based strategic collaboration agreement with LG Innotek, an electronics manufacturing affiliate of South Korea’s LG Group.
The US company confirmed that the partnership agreement includes a strategic investment by LG Innotek of up to US$ 50 million in Aeva, including the acquisition of an equity stake, a non-dilutive investment for new product development, and capital investments to bring production capacity online for Aeva’s next generation products.
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Aeva said in a statement: “This multi-faceted collaboration will enable Aeva to accelerate the commercialisation of its breakthrough Frequency Modulated Continuous Wave (FMCW) perception platform to a wide range of industries and new applications across automotive, industrial automation, robotics, and consumer devices.”
The company further clarified that “the partnership establishes the foundation to accelerate 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 breakthrough perception platform, consisting of its FMCW lidar-on-chip sensor, a custom processing System-on-Chip (SoC) and perception software, with LG Innotek’s global scale and cross-industry leadership, the two companies will develop new sensing and perception solutions. The partnership will advance the technology’s adoption in automotive and expand to additional sectors.”
In the automotive sector, the collaboration will begin with LG Innotek manufacturing and supplying to Aeva the Aeva Atlas™ Ultra 4D LiDAR sensor, including for Aeva’s previously announced development programme with a top 10 global passenger vehicle manufacturer, for use in multiple vehicle models. Aeva confirmed that LG Innotek “is already a key supplier of optical sensing solutions for some of the world’s leading car makers.”
LG Innotek’s CEO, Hyuksoo Moon, said in a statement that the “ultimate goal of this partnership is for LG Innotek and Aeva to grow together as key players leading the next-generation LiDAR market through a long-term technology partnership that goes beyond the supply of products. Starting with this collaboration with Aeva, LG Innotek will continue to expand its LiDAR product line-up, which delivers differentiated customer value, and further solidify its position in the global market as a total mobility solution provider for the future.”
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