Halla Group’s newly-launched autonomous driving solutions subsidiary HL Klemove targets 4 trillion won ($3.4 billion) in revenue by 2030 by actively responding to the growing demand for self-driving vehicles.
Chief Executive Yoon Pal-joo also said on Thursday the company will expand facilities and hire more researchers at its overseas operations, including those in China and India.
Halla, the parent of South Korean auto parts maker Mando Corp., on Dec. 2 officially launched HL Klemove, combining its two self-driving-related business units – Mando Mobility Solutions Corp. and Mando Hella Electronics Corp.
HL stands for Halla, while Klemove is a combination of the words "clever" and "move,” according to the company.
HL Klemove produces self-driving systems and automotive electronic components such as control units and sensors. The company was founded in 2008 as a 50-50 joint venture between Halla Holdings and German automotive parts supplier HELLA. Earlier this year, Mando acquired the entire stake in the JV from both companies.
With more than 2,000 autonomous-related patents, HL Klemove aims to commercialize a high-resolution solid-state lidar, which detects and tracks vehicles, pedestrians and other obstructions to help autonomous vehicles safely navigate at various speeds, by 2025.
HL Klemove CEO Yoon Pal-joo TURNKEY SOLUTIONS PROVIDER
The company also plans volume production of core self-driving components such as the 4D-imaging radar, high-resolution camera and passenger sensing equipment by that year.
More immediately, HL Klemove plans to unveil an automated driving control unit (ADCU) used for Level 3 autonomous driving next year.
“Eventually, we will provide full turnkey solutions from Level 2 to Level 4 autonomous driving,” the company said.
At Level 4, a vehicle can drive itself under limited conditions, just shy of Level 5, which enables fully automated driving.
Company officials said HL Klemove plans to build a production facility in the US next year to enter the North American market, where a minimum Level 3 autonomous driving technology is required.
HL Klemove's autonomous driving solutions Through its diverse product portfolio and overseas expansion, the company aims to increase its sales revenue from an estimated 1.2 trillion won this year to 2.4 trillion won in 2026 and 4 trillion won in 2030.
Graduated from Hanyang University in Seoul, CEO Yoon has for years worked at Mando’s research center as an engineer for the development of automobile radars and advanced driver assistance systems (ADAS).
