Lotte Innovate is set to expand its technology collaboration in the field of artificial intelligence (AI) connected cars and explore future mobility business opportunities.
On October 27, Lotte Innovate announced that it signed a memorandum of understanding for AI connected car technology development and the establishment of a future mobility hub in Incheon during the '2026 Connected Mobility Alliance General Assembly' held at Paradise City in Incheon.
The agreement involves 12 organizations and companies, including Incheon Metropolitan City, the Korea Automotive Technology Institute, Lotte Innovate, Hyundai Mobis, LG Innotek, Hyundai Kefico, Intellian Technologies, HL Klemove, Tmap Mobility, Solid, Autocrypt, and Pescaro.
Under the agreement, the participating organizations will collaborate on joint responses to innovative projects in AI connected car technology development, project planning, fostering the AI connected mobility industry, and establishing a core hub for AI connected mobility in Cheongna. They plan to seek joint research and development opportunities and create a related industrial ecosystem to lay the groundwork for commercialization.
Lotte Innovate will leverage its existing technological capabilities and operational experience from autonomous shuttles, next-generation intelligent transportation systems (C-ITS), and AI smart tolling in this collaboration. The company aims to expand its technological capabilities that connect vehicles, road infrastructure, and traffic services into the AI connected car sector to discover new business opportunities.
In addition to enhancing the commercialization potential of domestic demonstration projects, Lotte Innovate is also pursuing entry into overseas infrastructure markets and the development of next-generation technologies. The strategy is to broaden its existing transportation infrastructure-focused business into the AI-based future mobility sector to secure long-term growth drivers.
Yoon Tae-eun, head of the mobility division at Lotte Innovate, stated, “The competitiveness of the future mobility market lies in the ability to organically connect individual technologies, vehicles, traffic infrastructure, and services, and to commercialize them. Through this agreement, we will strengthen the foundation for technology development in the AI connected car sector and expand collaboration to lead to the discovery of new domestic and international business opportunities and tangible revenue growth.”
* This article has been translated by AI.
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