Taiwan-based optical disc maker RITEK announced that its subsidiary, RiTdisplay and Luminit, a light sharping diffuser supplier in the U.S., are going to set up a joint venture in Taiwan focusing on automotive lighting.
The RITEK group began its business in optical disc production and has expanded its operation to storage media, nano-technology, OLED displays and others. RiTdisplay is the subsidiary of RITEK which focuses on OLED development and production. On the other hand, Luminit specializes in light sharping technology for lighting, display, automotive and other applications. The cooperation between RiTdisplay and Luminit aims to develop next generation automotive light sources and LiDAR technology with the goal to break into the market of European carmakers. Brake lamps are the initial targeted products for the joint venture.
(Image: Pixabay)
Within the joint venture, named Luminit Automotive Technologies, RITEK will be in charge of the development and production of optical components; then RiTdisplay is going to adopt them into its OLED light source development for automotive lighting applications. As the products of Luminit have entered the supply chains of automobile manufacturers in Europe, Japan and the U.S., the collaboration opens a door for the RITEK group to increase its presence in the automotive market.
The deployment of OLED lighting for automotive applications has expanded. LEDinside noted that the OLED lighting market scale is expected to reach US$191 million in 2021, with an average annual growth rate of 1.07%.
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