Core Insights - LG Innotek has formed a strategic partnership with Aeva to advance in the LiDAR market, focusing on the supply and joint development of next-generation LiDAR technology [1][3][6] Company Developments - Aeva is recognized for developing the world's first 4D LiDAR using FMCW technology, which enhances long-range object-sensing capabilities and is already in use by major automakers like Daimler Truck [2][3] - LG Innotek will manufacture an ultra-slim, ultra-long-range FMCW LiDAR module capable of detecting objects up to 500 meters away, which is designed for mounting behind the front windshield of vehicles, reducing the size by 44% compared to existing products [4][5] Market Outlook - The global LiDAR market is projected to grow from USD 2.4 billion in 2024 to USD 15.4 billion by 2030, reflecting an average annual growth rate of 36% [3] Strategic Initiatives - The partnership includes a joint development agreement for FMCW LiDAR aimed at various applications, including autonomous vehicles, robots, and industrial automation, with LG Innotek planning to invest approximately USD 50 million in this venture [6][7] - LG Innotek is expected to acquire a 6.0% equity stake in Aeva as part of the collaboration [7] Future Plans - Both companies aim to announce a cooperation roadmap at the upcoming 'Aeva Day' event, highlighting their commitment to leading the next-generation LiDAR market [10][11]