Auto Industry Update: LG Innotek teams up with Volvo and HaleyTek for advancements in connected car technology
In the rapidly evolving world of automotive technology, LG Innotek is making significant strides with its Next-Generation Digital Key solution. This cutting-edge product, a flagship in its vehicle connectivity business, combines Bluetooth Low Energy (BLE) and Ultra-Wideband (UWB) technologies with an AI-driven 3D high-precision localization algorithm.
The result is an industry-leading digital key that can be used via smartphones for opening, locking, and starting cars with precision within 10 cm. This significant improvement over previous systems reduces issues like inaccurate door activation and security risks from hacking.
LG Innotek's digital key activates only when the driver is very close (within 10 cm) to the car door, improving user safety and convenience by eliminating false positives common in earlier systems that triggered at distances of 20 to 30 cm. The company also uses AI to optimize algorithms specifically for each vehicle model, which enhances precision and development efficiency.
Looking ahead, LG Innotek aims to grow its automotive communication components, including the digital key solution, into a $1.08 billion business over the next 30 years. This ambitious goal demonstrates a strong commercial commitment and long-term strategy in automotive connectivity.
To further expand its role as a total mobility solution provider, LG Innotek is partnering with Aeva to develop next-generation LiDAR and sensing platforms that incorporate AI and advanced technologies for automotive and other industries. This broader technological collaboration supports future integration of digital key solutions within a comprehensive smart vehicle ecosystem.
Meanwhile, LG Innotek's digital key solution includes a radar for additional safety and convenience functions, such as the Child Presence Detection (CPD) function. With the increasing regulation in the United States and Europe to make in-car CDP systems mandatory in 2025 to prevent heatstroke accidents involving children left in cars, this feature is set to become even more crucial.
The demand for digital keys is also on the rise due to the growth of the vehicle sharing industry. In fact, the global automotive digital key market is expected to quadruple from USD 3.0167 billion in 2023 to USD 11.3813 billion in 2033.
LG Innotek is not resting on its laurels. The company expects to expand its sales volume of vehicle communication modules by more than four times this year compared to last year. It has also recently won an order for its '5G-V2X Communication Module' from a global automaker, marking a significant step forward in its efforts to capture the automotive communication component market.
The 'Next-Generation Digital Key solution' is also the smallest in the industry, providing differentiated customer value including greater design freedom. The benefits of this solution can already be experienced in vehicles on the road today, thanks to collaborations such as the one between CARX Holdings Inc., Volvo Cars, and HaleyTek. This collaboration has resulted in the development of a world-leading software stack and computing environment for in-vehicle infotainment solutions aimed at offering a best-in-class experience to the next generation of Volvo Cars and Polestar vehicles.
Since its launch in 2021, LG Innotek has continuously improved its Digital Key products, ensuring they remain at the forefront of the evolving smart mobility and connected vehicle market. With its strong commercial commitment, innovative technology, and strategic partnerships, LG Innotek's Next-Generation Digital Key is undoubtedly a key component in the future of automotive connectivity.
[1] Source: LG Innotek press release, 2023 [2] Source: LG Innotek 2033 Business Plan, 2023 [3] Source: Aeva press release, 2023 [4] Source: ECARX press release, 2023 [5] Source: CARX Holdings Inc. press release, 2023
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