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flag LG Innotek and Aeva team up to develop advanced LiDAR tech, with LG investing $50M for a 6% stake.

flag LG Innotek and U.S. LiDAR specialist Aeva are partnering to develop advanced LiDAR technology for autonomous driving, robots, and industrial use. flag LG will supply a long-range 4D LiDAR module using FMCW technology, which enhances object detection over long distances. flag The companies plan to jointly develop this technology, with LG potentially acquiring a 6.0% stake in Aeva as part of a $50 million deal. flag The global LiDAR market is projected to grow significantly, from $2.4 billion in 2024 to $15.4 billion by 2030.

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