Evaluation of “LG Innotek, Argo AI Patent Purchase to Complement LiDAR Technology” “Ford and Volkswagen Investments of $2.6 Billion” Argo AI, which closed its doors in October of last year, transferred 113 US patents to Ford. In March, a new self-driving firm called Latitude AI was founded by LG Innotek 77 Ford.
Ford car utilising LiDAR technology from American self-driving firm Argo AI, which ran out of business in October of the previous year.
Argo AI, a startup that was developing autonomous vehicles but fell out of operation last year, sold 77 US patents to LG Innotek. It is thought that LG Innotek has strengthened lidar tech through this patent acquisition. LG Innotek is bolstering the electric parts sector, such as car camera modules.
An industry publication on the 21st reported that LG Innotek had earlier this month acquired 77 US patents to Argo AI. In March, Argo AI granted 113 U.S. patents to Ford Global Technologies, and early this month, roughly a month later, it granted US patents to LG Innotek.
The autonomous driving startup Argo AI, which shuttered in October of last year, specialised in LiDAR technology. By measuring the amount of time it takes for light to return after being emitted, lidar can determine the target’s distance and direction. Advanced driver assistance systems (ADAS), a crucial piece of technology for autonomous vehicles, use lidar.
In addition to LiDAR technology, the patent LG Innotek purchased from Argo AI also covers “Polarisation Filtering in LiDAR Systems.” By purchasing Argo AI patents, LG Innotek has bolstered its collection of lidar patents. In the past, LG Innotek and Argo AI discussed developing Lidar together, however it is understood that they ultimately decided against it because Argo AI closed its doors the previous year.
Currently, LG Innotek is focusing on the development of lidar and vehicle camera modules. The CEO of LG Innotek, Jeong Cheol-dong, stated at the general shareholders’ gathering held in March that “we will continue to support the electric vehicle and autonomous automobile components business, such as automotive camera modules, lidar, and power modules, as potential expansion engines.” The demand for electric parts is growing faster than the increase in finished vehicle shipments as a result of the electrification of cars and the growth of the supply of electric vehicles.
There are 13 patents that Argo AI has filed for and published at the Korean Intellectual Property Office as of today, and the status of the rights relationship has not yet changed. Domestic patents connected to the US patents that Argo AI transferred to Ford and LG Innotek are anticipated to undergo a sequential ownership shift. There aren’t many patents submitted in Korea because Argo AI has been applying for patents vigorously in the US.
The autonomous driving startup Argo AI was established in the US in 2016. Ford made a $1 billion investment in 2017, while Volkswagen made a $2.6 billion investment in 2020. The company’s worth reached $7 billion at one point. Ford and Volkswagen, however, withdrew from Argo AI in October of the previous year because they believed it would take too long for them to see a return on their investment.
Ford, meanwhile, launched its own autonomous vehicle business called Latitude AI in March. Numerous graduates of Argo AI have joined Latitude AI. The primary goal of Latitude AI will be to improve the capacities of Ford’s Blue Cruise ADAS system..
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