LG Innotek Surges 10% in Early Trading on Rising Stake Value in U.S. LiDAR Firm [Stock NOW]

[Financial News] LG Innotek is trading higher in early trading. The gain is attributed to an increase in the value of its stake in a U.S. LiDAR sensor company in which it invested last year.
According to the Korea Exchange (KRX), LG Innotek was trading at 591,000 won as of 9:10 a.m. on the 28th, up 10.47% from the previous trading day. The stock opened at 537,000 won, up 0.18%, before extending its gains.
The rise is attributed to an increase in the value of LG Innotek's stake in Aeva, a U.S. LiDAR company in which it invested last year as part of its strategy to focus on its LiDAR sensor business. The stake, acquired by LG Innotek in August last year, was worth approximately 45.2 billion won at the time. Reflecting the current share price and exchange rates, it is now estimated to be worth approximately 73 billion won.
LG Innotek plans to jointly develop LiDAR systems with Aeva. Aeva is reportedly planning to conduct customer validation and trial supply of its short-range 4D LiDAR, Omni, in the second half of this year before beginning full-scale production next year. Omni is the first product Aeva has launched since entering into a strategic partnership with LG Innotek.

[email protected] Lim Sang-hyuk Reporter