Lotte Innovate said on the 28th that it signed a business agreement for cooperation on AI connected car technology development and for creating an Incheon future mobility hub at the 2026 Connected Mobility Alliance general meeting held at Paradise City in Incheon on the 27th.
Twelve institutions and corporations took part in the agreement, including Incheon Metropolitan City and the Korea Automotive Technology Institute, as well as Lotte Innovate, Hyundai Mobis, LG Innotek, Hyundai Kefico, and T Map Mobility.
Under the agreement, the participating institutions will cooperate on joint research and development and project planning for AI connected car technology development, fostering related industries, and establishing the Cheongna AI connected mobility industry hub.
Lotte Innovate plans to expand its business into the AI connected car field, which links vehicles, road infrastructure, and transportation services, by leveraging the technology and operational experience accumulated in existing businesses such as Autonomous Driving shuttles, next-generation cooperative intelligent transport systems (C-ITS), and AI smart tolling.
Yoon Tae-eun, head of mobility at Lotte Innovate, said, "Competitiveness in the future mobility market lies beyond individual technologies, in organically linking vehicles, transportation infrastructure, and services and commercializing them," and added, "Through this agreement, we will strengthen the foundation for AI connected car technology development and expand cooperation so it can lead to the discovery of new businesses at home and abroad and to revenue growth."