Prestigious Award Recognizes industry
Leaders Driving Innovation Globally
AEye, Inc. (NASDAQ: LIDR), a global leader in adaptive,
high-performance lidar solutions, today announced that it has
received the coveted Reuters Automotive DRIVE Honours Award, an
annual award for automotive excellence. AEye’s 4Sight™ Intelligent
Sensing Platform received the Innovation prize, given to 5
companies that have developed an innovative product offering that
is accelerating the automotive industry. AEye is joined in the
award by Hyundai, Nio, Lucid, and Polestar.
The competitive process looked at innovation in technology,
supply chain, and partnerships, and elicited hundreds of entries
from across the globe. The judging panel – made up of automotive
specialists – awarded AEye high points across all key areas,
including vision, impact, and scalability.
According to the judges, “AEye’s 4Sight Intelligent Sensing
Platform is a critical enabling technology for the next generation
of vehicles. Their platform and technology is high-performing,
scalable, and flexible. Based on the broad and superior
performance, this seems to be well aligned with the needs of the
industry today and for the next several years.”
AEye’s 4Sight Intelligent Sensing Platform employs a
software-definable lidar with adaptable and updateable software to
enhance advanced driver assistance systems (ADAS) capabilities,
enabling next gen safety features and software revenue
opportunities. The 4Sight reference designs are differentiated
technically by their range, resolution, reliability, and
reconfigurability, and are licensed to global Tier 1 automotive
suppliers for high volume manufacturing. The business model is
designed to enable AEye to focus on developing industry-leading
technology and designing modular reference designs built on a
software-definable platform, while AEye’s Tier 1 automotive
partners configure, industrialize, and manufacture those products
to meet each OEM’s specific requirements.
“We’re honored to be recognized by Reuters Automotive and its
distinguished panel of judges as an industry leader driving
automotive innovation,” said Matt Fisch, CEO of AEye. “The movement
toward electrification, autonomy, and service-based business models
dramatically increases the industry’s reliance on software
architectures to deliver on the promise of enhanced safety features
and functionality, as well as new revenue streams. It also requires
sensing solutions that are flexible enough to learn over time.
AEye’s 4Sight Intelligent Sensing Platform reduces time-to-market
for new features and allows OEMs to continuously improve upon or
introduce features and functionality across all vehicle models
through software upgrades, allowing them to deliver a
future-proofed ADAS roadmap.”
Today, AEye is focused on development, validation, and
industrialization of Continental’s HRL-131 Long Range Lidar
product, built on the 4Sight platform. The product is being
incorporated into Continental’s existing full stack ADAS sensing
portfolio to enhance safety systems in a wide variety of driving
environments. Continental can scale production using their global
production footprint, as one of the world’s leading suppliers of
autonomous and advanced driver assistance systems. Over time,
AEye’s business model enables the company to work with additional
Tier 1s to scale even more broadly.
For more on AEye’s Innovation award, visit the Reuters DRIVE
Honours summary here.
About AEye
AEye’s unique software-defined lidar solution enables advanced
driver-assistance, vehicle autonomy, smart infrastructure, and
logistics applications that save lives and propel the future of
transportation and mobility. AEye’s 4Sight™ Intelligent Sensing
Platform, with its adaptive sensor-based operating system, focuses
on what matters most: delivering faster, more accurate, and
reliable information. AEye’s 4Sight™ products, built on this
platform, are ideal for dynamic applications which require precise
measurement imaging to ensure safety and performance. AEye has a
global presence through its offices in Germany, Korea, and the
United States.
Forward-Looking Statements
Certain statements included in this press release that are not
historical facts are forward-looking statements within the meaning
of the federal securities laws, including the safe harbor
provisions under the United States Private Securities Litigation
Reform Act of 1995. Forward-looking statements are sometimes
accompanied by words such as “believe,” “continue,” “project,”
“expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,”
“opportunity,” “predict,” “plan,” “may,” “should,” “will,” “would,”
“potential,” “seem,” “seek,” “outlook,” and similar expressions
that predict or indicate future events or trends, or that are not
statements of historical matters. Forward-looking statements are
predictions, projections, and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Forward looking
statements included in this press release include statements about
the adaptability, benefits, and features of AEye’s products, the
competitive advantages of AEye’s business model, as well as the use
of lidar in automobiles generally, among others. These statements
are based on various assumptions, whether or not identified in this
press release. These forward-looking statements are provided for
illustrative purposes only and are not intended to serve as and
must not be relied on by an investor as a guarantee, an assurance,
a prediction, or a definitive statement of fact or probability.
Actual events and circumstances are very difficult or impossible to
predict and will differ from the assumptions. Many actual events
and circumstances are beyond the control of AEye. Many factors
could cause actual future events to differ from the forward-looking
statements in this press release, including but not limited to: (i)
the risks that AEye’s 4Sight Intelligent Sensing Platform’s
software-definable lidar may not enhance advanced driver assistance
systems (ADAS) capabilities, enable next gen safety features, nor
enable software revenue opportunities as anticipated, or at all;
(ii) the risks that the 4Sight reference designs may not be
differentiated technically by their range, resolution, reliability,
and reconfigurability to the extent anticipated, or at all; (iii)
the risk that the licenses to Tier 1 automotive suppliers may not
result in high volume manufacturing in the time frame anticipated,
or at all; (iv) the risks that the automotive industry may not rely
on software architectures as anticipated, or at all; (v) the risks
that AEye’s 4Sight Intelligent Sensing Platform may not reduce
time-to-market for new features, allow OEMs to continuously improve
upon or introduce features and functionality across all vehicle
models through software upgrades, or allow OEMs to deliver a
future-proofed ADAS roadmap as anticipated, or at all; (vi) the
risks that lidar adoption occurs slower than anticipated or fails
to occur at all; (vii) the risks that AEye’s products may not meet
the diverse range of performance and functional requirements of
target markets and customers; (viii) the risks that AEye’s products
may not function as anticipated by AEye, or by target markets and
customers; (ix) the risks that AEye may not be in a position to
adequately or timely address either the near or long-term
opportunities that may or may not exist in the evolving autonomous
transportation industry; (x) the risks that laws and regulations
are adopted impacting the use of lidar that AEye is unable to
comply with, in whole or in part; (xi) the risks associated with
changes in competitive and regulated industries in which AEye
operates, variations in operating performance across competitors,
and changes in laws and regulations affecting AEye’s business;
(xii) the risks that AEye is unable to adequately implement its
business plans, forecasts, and other expectations, and identify and
realize additional opportunities; and (xiii) the risks of downturns
and a changing regulatory landscape in the highly competitive and
evolving industry in which AEye operates. These risks and
uncertainties may be amplified by the lingering effects of the
COVID-19 pandemic, which continues to cause significant economic
uncertainty. The foregoing list of factors is not exhaustive. You
should carefully consider the foregoing factors and the other risks
and uncertainties described in the “Risk Factors” section of the
periodic report that AEye has most recently filed with the U.S.
Securities and Exchange Commission, or the SEC, and other documents
filed by us or that will be filed by us from time to time with the
SEC. These filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are
made.
Readers are cautioned not to put undue reliance on
forward-looking statements; AEye assumes no obligation and does not
intend to update or revise these forward-looking statements,
whether as a result of new information, future events, or
otherwise. AEye gives no assurance that AEye will achieve any of
its expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20231019362444/en/
Company Contacts: Jennifer Deitsch AEye, Inc.
jennifer@aeye.ai 925-400-4366
Evan Niu, CFA Financial Profiles, Inc. eniu@finprofiles.com
310-622-8243
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