LG Innotek to invest $50m in Aeva as part of strategic LiDAR partnership
Aeva, renowned for its frequency modulated continuous wave LiDAR technology, was the first company in the world to commercialize 4D LiDAR systems capable of long-range object sensing. Since beginning mass production in 2022, the firm has established itself as a key player in the self-driving ecosystem, with clients including global automakers such as Daimler Truck.
The first product LG Innotek will supply to Aeva is an advanced FMCW-based fixed LiDAR module capable of detecting objects up to 500 meters away.
Unlike traditional time-of-flight LiDAR, FMCW technology enables precise distance measurements and accurate velocity detection — a crucial advantage in complex traffic environments. The module is praised for its ultra-slim form factor and high-precision sensing capabilities.
LG Innotek's new module can be embedded behind a vehicle's front windshield, giving automakers greater freedom in vehicle design. For this integration, the company reduced the module's size by nearly half compared to existing models.
The LiDAR modules will be delivered to original equipment manufacturers as a complete solution, combined with Aeva's software platform.
'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,' LG Innotek CEO Moon Hyuk-soo said.
As part of the partnership, the two firms also signed a joint development agreement to co-develop future FMCW LiDAR systems by the end of 2027. These solutions will extend beyond passenger vehicles to include robotics, robotaxis and industrial mobility applications.
According to industry projections, the global LiDAR market is expected to grow from $2.46 billion in 2023 to $15.4 billion by 2030, representing a compound annual growth rate of 36 percent.
To establish a strategic and long-term partnership with Aeva, the Korean electronics parts maker will acquire about 6 percent of Aeva's shares. Additionally, LG Innotek plans to invest up to $50 million exclusively in the LiDAR business.
'Our joint strategic collaboration underscores the growing recognition of FMCW as the future of sensing and perception technology," Aeva CEO Soroush Salehian said.
"Together with LG Innotek, we see a tremendous opportunity to bring Aeva's perception platform to a wide range of applications -- wherever machines need to perceive and understand their surroundings."
LG Innotek will further highlight the latest partnership at Aeva Day in New York on Thursday. Moon will deliver the keynote address, and both companies' chief technology officers will participate in a fireside chat to discuss the roadmap for and synergy potential of the collaboration.
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