Mando makes equity investment into lidar sensor firm
2 billion won into Carnavi.com
Mando has acquired an equity stake in lidar sensor firm Carnavi.com.
It spent 2 billion won for a 4% stake on September 2, according to the company’s filings to local financial authorities on Tuesday.
Carnavi.com previously was part of a national project to develop 3D fixed lidar technology, along with Mando.
A Mando spokesperson said the company acquired a stake in the lidar firm to expand into advanced driver assistance system (ADAS).
In June, Mando split off its ADAS business into a separate company called HL Klemove.
Hyundai Motor is planning to adopt lidar from France’s Valeo for its Level 3 autonomous vehicles launching next year, a person familiar with the matter said.
The South Korean automobile giant is planning to adopt locally made lidars after that to cut unit prices down, they said.