LG Innotek Signs MOU with Kakao Mobility to Develop Autonomous Driving Solutions
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LG Innotek announced on May 20 that it has signed a memorandum of understanding (MOU) with Kakao Mobility, the largest mobility platform company in Korea, to develop autonomous driving solutions.
An MOU is a document that records the direction and goals of a partnership that two companies have agreed upon before entering into a formal contract. Through this agreement, the two companies will discuss ways to jointly develop autonomous driving technology.
Autonomous driving technology enables a vehicle to find its way and move on its own without the driver directly operating it. It has recently been identified as an important field in the automotive industry, and interest is also growing within the mobility service sector. Kakao Mobility provides a range of mobility services, including taxi calls and navigation, so attention is focusing on how this partnership will be applied to actual services.
The two companies plan to decide on specific areas of cooperation and a timeline for implementation going forward. So far, detailed business plans and investment scale have not been disclosed.
Sources: elec4
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