LG Innotek is making a major push into the technologies of the future, announcing a bold new strategy focused on self-driving cars, robotics, and advanced semiconductor components. The company’s CEO, Moon Hyuk-soo, has set an ambitious goal: to have these new businesses generate more than 25% of the company’s total revenue by 2030.
This represents a significant shift for the company, which aims to diversify its business and explore new avenues for growth. One of the key areas of focus is LiDAR, a crucial sensor for self-driving cars. LG Innotek has recently signed a strategic partnership with U.S. LiDAR specialist Aeva to supply advanced modules for the next generation of cars from top global automakers, starting in 2028.
But the company isn’t just betting on LiDAR. It’s also investing in advanced radar technology and has already started to see success in its new robotics components business. In May, the company signed a deal with the renowned robotics firm Boston Dynamics to assist in the development of components for its next-generation humanoid robot, Atlas.
LG Innotek is also entering the market for powerful semiconductor modules that control advanced driver-assistance systems (ADAS) in modern cars. With the demand for these chips expected to skyrocket, the company is positioning itself to be a key player.
All together, LG Innotek aims to grow these new, future-focused businesses into an 8 trillion won (approximately $5.7 billion) portfolio by 2030, a clear sign that it’s all-in on the next wave of technology.
