Hyundai Mobis Invests in and forms partnership with Velodyne Lidar
- Business partnership to advance lidar development for autonomous driving, investing $50M
- To mass-produce lidar system in 2021 for level 3 autonomous driving, targeting Asia market first
… World’s leading lidar company Velodyne to supply the latest lidar sensor, with high resolution
… Hyundai Mobis to elaborate lidar system for autonomous driving with data processing software
SEOUL, South Korea - Hyundai Mobis (KRX:012330) is joining hands with ‘Velodyne Lidar’, world leading lidar company, for mass-producing level 3 autonomous driving lidar system. Hyundai Mobis will also invest $50 million in Velodyne, creating invaluable synergy between the two companies to reinforce business cooperation in Lidar commercialization.
The two companies will collaborate on new lidar system supply by integrating Velodyne’s latest lidar sensors with Hyundai Mobis’ cognitive software. Velodyne has the largest share of the global lidar market and exceeds the latest high lidar requirements of global automakers. In this lidar with high specifications, Hyundai Mobis will develop and integrate its own cognitive software. This software will process the outside vehicle environment data gathered by lidar sensors which means that it would recognize and analyze moving or stationary objects, along with road systems such as traffic sign information.
Hyundai Mobis and Velodyne will commercialize their first lidar system for level 3 autonomous driving in 2021 by this partnership. The two companies will mark the start by supplying the system to Asian market and will gradually expand to automakers in North America and Europe.
With this lidar system, Hyundai Mobis will finalize its sensor technology line up for autonomous driving of level 3 and above, where the main driving force is shifted from human driver to an independent car system. It has successfully developed a short-range radar last year and will secure deep learning-based camera and high-performance radar technology by next year.
“Hyundai Mobis is delighted to cooperate with Velodyne Lidar, one of the industry’s most reliable and mass-production ready Lidar sensor provider to finalize lidar system which is essential in high level autonomous driving,” said Ko Youngsuk, Head of the Hyundai Mobis Strategic Planning division. “Hyundai Mobis will continue to expand strategic collaboration with various innovators to accelerate open innovation for key technologies.”