LG Innotek Accelerates Autonomous Driving and XR Market Expansion... Partners with Global 'Top 3'

Signed Main Contract for Equity Investment and Business Cooperation with Taiwanese Lens Company AOE
Reducing Production Costs of High-Definition Aspherical Lenses for Autonomous Driving
"Strengthening Autonomous Driving and XR Supply Chains and Accelerating Market Penetration"

LG Innotek is accelerating its entry into the autonomous driving camera and extended reality (XR) optical components markets by partnering with a global 'top 3' lens manufacturer.

On the 18th, LG Innotek announced that it had signed a 'share investment and business cooperation main contract' with Taiwanese lens manufacturer AOE Optronics. The contract was made in the form of LG Innotek investing in shares of AOE.

AOE Optronics is a subsidiary of Taiwanese optical manufacturer Asia Optical. It is a company with high technical expertise in lenses for vehicle modules and is regarded as one of the global 'top 3' companies. Recently, it has been increasing lens supply to North American electric vehicle companies.

AOE Optronics produces 'aspherical glass lenses' by alternately applying plastic and glass. This lowers production costs compared to making lenses with conventional glass materials. Aspherical glass lenses are components for high-resolution autonomous driving cameras, which are technically challenging to implement.

Following this contract, LG Innotek plans to expand its mobile optical solutions business portfolio to include vehicles and XR. Moon Hyuk-soo, Vice Chairman and CEO of LG Innotek, stated, "LG Innotek will rapidly expand its camera module portfolio to vehicles, XR devices, and more."

This will enable a higher level of supply chain management capability. LG Innotek possesses optical design and process automation capabilities as well as an advanced quality control system, while AOE holds proprietary material, mold processing, and precision lens manufacturing technologies. Through this, they plan to jointly develop lenses of the world's highest standards.

The two companies intend to optimize design and processes between lenses and camera modules and enhance cost competitiveness. The jointly developed products will be applied to core optical components and supplied to global automakers, vehicle parts manufacturers, and XR device makers.

CEO Moon said, "We will create differentiated value through competitive advantages such as overwhelming technology, cost competitiveness, and manufacturing process capabilities," adding, "We will become a technology innovation company that makes customers winners."