Latest news with #SoroushSalehian
Yahoo
2 days ago
- Automotive
- Yahoo
LG Innotek to take stake in lidar maker Aeva as part of $50 million deal
By Stephen Nellis SAN FRANCISCO (Reuters) -Aeva Technologies said on Tuesday that South Korean camera module maker LG Innotek will take an equity stake in Aeva as part of a $50 million strategic collaboration. Aeva makes lidar sensors that help vehicles and industrial equipment gain a detailed three-dimensional view of their environment and detect how fast surrounding objects are moving. It supplies sensors to vehicle firms such as Daimler Truck and industrial equipment makers such as Nikon. As part of the deal, LG Innotek will make a $32 million equity investment in Aeva for a "single-digit percentage ownership" in the company, Aeva CEO Soroush Salehian told Reuters in an interview. The remainder of the deal will go toward building production capacity for sensors that can go into robotics and consumer devices, in addition to Aeva's existing markets of vehicles and industrial equipment. '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,' the South Korean electronics supplier's CEO, Hyuksoo Moon, said in a statement. Salehian told Reuters that Aeva is working to integrate its entire sensor into a single chip whose price can be driven low enough to make it viable in consumer electronics such as augmented reality headsets. "The roadmap that we're going towards is double-digit dollars," Salehian told Reuters. "We are already working towards the next generation that will allow for a very low-cost solution, which we think will be a game changer for mass adoption of what we call precision sensing."
Reuters
2 days ago
- Automotive
- Reuters
LG Innotek to take stake in lidar maker Aeva as part of $50 million deal
SAN FRANCISCO, July 29 (Reuters) - Aeva Technologies (AEVA.O), opens new tab said on Tuesday that South Korean camera module maker LG Innotek ( opens new tab will take an equity stake in Aeva as part of a $50 million strategic collaboration. Aeva makes lidar sensors that help vehicles and industrial equipment gain a detailed three-dimensional view of their environment and detect how fast surrounding objects are moving. It supplies sensors to vehicle firms such as Daimler Truck and industrial equipment makers such as Nikon. As part of the deal, LG Innotek will make a $32 million equity investment in Aeva for a "single-digit percentage ownership" in the company, Aeva CEO Soroush Salehian told Reuters in an interview. The remainder of the deal will go toward building production capacity for sensors that can go into robotics and consumer devices, in addition to Aeva's existing markets of vehicles and industrial equipment. '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,' the South Korean electronics supplier's CEO, Hyuksoo Moon, said in a statement. Salehian told Reuters that Aeva is working to integrate its entire sensor into a single chip whose price can be driven low enough to make it viable in consumer electronics such as augmented reality headsets. "The roadmap that we're going towards is double-digit dollars," Salehian told Reuters. "We are already working towards the next generation that will allow for a very low-cost solution, which we think will be a game changer for mass adoption of what we call precision sensing."
The Star
2 days ago
- Automotive
- The Star
LG Innotek to take stake in lidar maker Aeva as part of $50 million deal
FILE PHOTO: A view shows an Aeva Technologies lidar sensor that helps self-driving vehicles gain a detailed view of the road, in Mountain View, California, U.S., in this undated handout photo provided on January 9, 2024. Courtesy Of Aeva Technologies/Handout via REUTERS/File Photo SAN FRANCISCO (Reuters) -Aeva Technologies said on Tuesday that South Korean camera module maker LG Innotek will take an equity stake in Aeva as part of a $50 million strategic collaboration. Aeva makes lidar sensors that help vehicles and industrial equipment gain a detailed three-dimensional view of their environment and detect how fast surroundingobjects are moving. It supplies sensors to vehicle firms such as Daimler Truck and industrial equipment makers such as Nikon. As part of the deal, LG Innotek will make a $32 million equity investment in Aeva for a "single-digit percentage ownership" in the company, Aeva CEO Soroush Salehian told Reuters in an interview. The remainder of the deal will go toward building production capacity for sensors that can go into robotics and consumer devices, in addition to Aeva's existing markets of vehicles and industrial equipment. '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,' the South Korean electronics supplier's CEO, Hyuksoo Moon, said in a statement. Salehian told Reuters that Aeva is working to integrate its entire sensor into a single chip whose price can be driven low enough to make it viable in consumer electronics such as augmentedreality headsets. "The roadmap that we're going towards is double-digit dollars," Salehian told Reuters. "We are already working towards the next generation that will allow for a very low-cost solution, which we think will be a game changer for mass adoption of what we call precision sensing." (Reporting by Stephen Nellis in San Francisco; Editing by Saad Sayeed)
TechCrunch
2 days ago
- Automotive
- TechCrunch
Aeva strikes lidar chip-making deal with LG subsidiary
LG Innotek, the components and materials subsidiary of South Korea's LG Group, has struck a manufacturing partnership with Aeva Technologies, which makes 4D LiDAR sensing systems. The partnership will see LG Innotek manufacturing and supplying Aeva's Atlas Ultra 4D LiDAR sensor for automobiles, and eventually expanding the technology for use in consumer electronics, robotics and industrial automation. As part of the deal, LG Innotek will invest up to $50 million in Aeva, acquiring an equity stake of about 6% in the U.S. company. 'The first part of the partnership is focused on the automotive sector,' Aeva's co-founder and CEO Soroush Salehian told TechCrunch. 'LG Innotek will act as our manufacturing partner for some of the top 10 global passenger vehicle OEMs.' Founded in 2017, Aeva says it has poured nearly half-a-billion dollars into developing what it calls '4D LiDAR on a chip.' Unlike conventional LiDAR systems that rely on time-of-flight measurements to estimate distance, Aeva's Frequency Modulated Continuous Wave-based perception technology measures both distance and velocity for every pixel in real time, Salehian said. 'It's like going from black-and-white to color camera. We get this velocity information as a new dimension,' he explained. Aeva says it has integrated the entire LIDAR system, including optics, into a silicon photonics module. This miniaturized, chip-scale design enables more efficient production and integration, particularly for scaling in markets such as automotive, robotics, and consumer electronics, Salehian said. The company plans to put the capital from the deal towards product development and augmenting its team. 'Over the past eight years, we've made [the hardware] super small, and we're sticking to that trajectory. We're going to make it down to a monolithic, single-chip,' Salehian said. Techcrunch event Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. San Francisco | REGISTER NOW Aeva is also targeting the manufacturing sector, and has struck partnerships Nikon in Japan and CKG in Germany. The company is also expanding into smart infrastructure and transportation, providing security and monitoring solutions at major U.S. airports, including SFO and JFK Terminal One.
CNA
2 days ago
- Automotive
- CNA
LG Innotek to take stake in lidar maker Aeva as part of $50 million deal
SAN FRANCISCO :Aeva Technologies said on Tuesday that South Korean camera module maker LG Innotek will take an equity stake in Aeva as part of a $50 million strategic collaboration. Aeva makes lidar sensors that help vehicles and industrial equipment gain a detailed three-dimensional view of their environment and detect how fast surrounding objects are moving. It supplies sensors to vehicle firms such as Daimler Truck and industrial equipment makers such as Nikon. As part of the deal, LG Innotek will make a $32 million equity investment in Aeva for a "single-digit percentage ownership" in the company, Aeva CEO Soroush Salehian told Reuters in an interview. The remainder of the deal will go toward building production capacity for sensors that can go into robotics and consumer devices, in addition to Aeva's existing markets of vehicles and industrial equipment. '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,' the South Korean electronics supplier's CEO, Hyuksoo Moon, said in a statement. Salehian told Reuters that Aeva is working to integrate its entire sensor into a single chip whose price can be driven low enough to make it viable in consumer electronics such as augmented reality headsets. "The roadmap that we're going towards is double-digit dollars," Salehian told Reuters. "We are already working towards the next generation that will allow for a very low-cost solution, which we think will be a game changer for mass adoption of what we call precision sensing."
