News Summary

Aeva Technologies, a company specializing in 4D LiDAR sensing systems, has entered into a manufacturing partnership with LG Innotek, a subsidiary of South Korea’s LG Group. This collaboration involves LG Innotek producing and supplying Aeva’s Atlas Ultra 4D LiDAR sensors for the automotive industry, with plans to extend the technology to consumer electronics, robotics, and industrial automation. As part of the agreement, LG Innotek will invest up to $50 million in Aeva, acquiring a 6% equity stake. Aeva’s innovative LiDAR system, based on Frequency Modulated Continuous Wave technology, measures distance and velocity in real time, providing a new dimension of data. The capital from this deal will support Aeva’s product development and team expansion.