LG Innotek has formed a strategic partnership with U.S.-based Aeva to supply and jointly develop 4D LiDAR systems using frequency modulated continuous wave (FMCW) technology, targeting applications in autonomous vehicles, robotics, and industrial automation.
The agreement includes LG Innotek supplying ultra-slim, long-range LiDAR modules capable of detecting objects up to 500 meters away. The module, which is 44% smaller than existing products, is designed for integration behind a vehicle’s front windshield and will be paired with Aeva’s software for delivery to original equipment manufacturers. The companies aim to develop next-generation FMCW LiDAR by 2027 under a joint development agreement.
LG Innotek said it will invest up to $50 million in the collaboration, including acquiring a 6% stake in Aeva. “Our collaboration underscores the growing recognition of FMCW as the future of sensing and perception technology,” said Aeva CEO Soroush Salehian, adding that the technology could be applied “across various industries.” LG Innotek CEO Hyuksoo Moon said the company aims to become “a key player in the next-generation LiDAR market” and expand its product lineup as part of its strategy to be a “total mobility solution provider.”
The companies will outline their roadmap at the “Aeva Day” event in New York on July 31, 2025. The global LiDAR market is projected to grow from $2.4 billion in 2024 to $15.4 billion by 2030, according to market forecasts.