According to Korean media Korea it news, LG Innotek, a subsidiary of LG Group, seeks to reach a supply agreement with Tesla on cameras and parts. The value of the transaction is as high as one trillion won (about 5.347 billion yuan). The contract will be reached in the first quarter, and LG Innotek will be put into production immediately. At that time, Tesla Model y, model 3, electric truck semi and cybertruck to be launched in North America and Europe will be equipped with cameras produced by LG Innotek.
This news directly boosted LG Innotek's share price, which rose nearly 13% and closed up 9% today (14th).
For the rumors, LG Innotek said, "we cannot disclose matters related to customer supply." Many people in the industry still hold a wait-and-see attitude. Kim UN Ho, an analyst at IBK securities, said that the authenticity of the contract is not clear, and the amount remains to be determined. "(contract amount) 1 trillion won may be apportioned over five years, not a year's order."
However, even based on the five-year contract, LG Innotek receives 200 billion won (about 1.069 billion yuan) every year.
All along, Tesla has adopted the combination of multi camera + millimeter wave radar + FSD chip. In July last year, Tesla also signed a camera module contract with Samsung electric worth 490 billion won (about 2.6 billion yuan), and Samsung electromechanical will supply Tesla cybertruck.
According to the data, Tesla delivered about 936200 vehicles in 2021. Adam Jonas, an analyst at Morgan Stanley, said that considering the strong growth trend of Tesla in the fourth quarter and the production of new factories in Austin and Berlin, Tesla's output is expected to double to 2 million units in 2022. It is foreseeable that Tesla's increased shipments will bring more orders to its camera suppliers.
At present, Tesla's on-board lens / camera module suppliers mainly include Lianchuang Electronic Technology Co.Ltd(002036) , Ofilm Group Co.Ltd(002456) , Shunyu optics, Will Semiconductor Co.Ltd.Shanghai(603501) , LG, Samsung motor, etc.
camera growth is highly deterministic, and Chinese enterprises have global competitiveness
Looking at the whole intelligent driving track, the voice of lidar getting on the car is rising, which does not hinder the development of camera route. Although the "lidar scheme" is dominated by lidar, it also needs to cooperate with camera, millimeter wave radar and other components. In order to complement the advantages and disadvantages of different sensors and enhance the security of the system, simultaneous interpreting of cameras and radar has gradually become the mainstream perception configuration of ADAS in recent years. Mobileye, an autonomous driving subsidiary of Intel, once said that at the level of high-level autonomous driving, the two schemes of pure visual perception based on camera and radar + lidar fusion perception should be parallel, which is the real hardware redundancy.
Wang Fang, an analyst at Minsheng securities, previously said that among the four tracks on the perception layer (camera, lidar, millimeter wave radar and ultrasonic radar), the camera growth certainty is the strongest . The pattern of lens and CMOS industrial chain is improving. China has enterprises Will Semiconductor Co.Ltd.Shanghai(603501) , Shunyu optics and Lianchuang Electronic Technology Co.Ltd(002036) with global competitiveness.
Sinolink Securities Co.Ltd(600109) analyst fan Zhiyuan also expressed his optimism about the field of vehicle camera. The analyst said that thanks to the improvement of core shortage and the acceleration of intelligence, the vehicle camera market is expected to increase by 44% in 2022. It is estimated that in 2025, the vehicle lens market will reach 26 billion yuan, the vehicle camera market will reach 78.2 billion yuan, and the CAGR will reach 32% from 2020 to 2025. In addition, at present, the vehicle camera modules are mainly dominated by overseas Tier1 and tier2. With the rise of new forces in vehicle manufacturing and the upgrading of module specifications, the vehicle lens factory is expected to enter the module Market in the future.
