Business Wire

Velodyne LiDAR Gears Up for the Autonomous Revolution with Investments from Ford and Baidu

Del

Velodyne LiDAR, Inc., the recognized global leader in Light, Detection and Ranging, or LiDAR technology, today announced the completion of a combined $150 million investment from co-investors Ford Motor Company [NYSE:F] (“Ford”) and China’s leading search engine company Baidu, Inc. [Nasdaq:BIDU] (“Baidu”). The investment will allow Velodyne to rapidly expand the design and production of high performance, cost effective automotive LiDAR sensors, accelerating mass adoption in autonomous vehicle and ADAS applications and therefore accelerating the critical, transformative benefits they provide.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20160816005465/en/

Roadmap to Automation - Driver Driven to Driverless Vehicles (Graphic: Business Wire)

Roadmap to Automation - Driver Driven to Driverless Vehicles (Graphic: Business Wire)

Over the last decade, Velodyne developed four generations of hybrid solid-state LiDAR systems incorporating the company’s proprietary software and algorithms that interpret rich data gathered from the environment via highly accurate laser-based sensors to create high resolution 3D digital images used for mapping, localization, object identification and collision avoidance. Velodyne’s LIDAR solutions are capable of producing 300K to 2.2 million data points per second with a range up to 200 meters at centimeter-level accuracy. The Company’s high performance LiDAR technology has been recognized by global automotive OEMs and rideshare customers as a critical element enabling the development of fully autonomous vehicles.

LiDAR continues to prove itself as the critical sensor for safe autonomous vehicle operation,” said David Hall, founder and CEO, Velodyne LiDAR. “This investment will accelerate the cost reduction and scaling of Velodyne’s industry-leading LiDAR sensors, making them widely accessible and enabling mass deployment of fully autonomous vehicles. We are determined to help improve the goal of safety for automotive vehicles as soon as possible, as well as empower the efficiency autonomous systems offer.”

“We want the cost to be low enough to be used for all cars. We envision a safer world for the millions of automotive drivers across the globe,” said Marta Hall, Velodyne President of Business Development.

“From the very beginning of our autonomous vehicle program, we saw LiDAR as key enabler due to its sensing capabilities and how it complements radar and cameras,” said Raj Nair, Ford Executive Vice President, Product Development and Chief Technical Officer. “Ford has a long-standing relationship with Velodyne and our investment is a clear sign of our commitment to making autonomous vehicles available for consumers around the world.”

Baidu also shares Velodyne’s vision to promote safety for autonomous vehicles on a global scale, and in particular in Baidu’s home market in China, where Baidu is already testing its fleet of autonomous vehicles. “Baidu is developing autonomous vehicles with the intention to increase passenger safety and reduce traffic congestion and pollution in China,” said Jing Wang, Senior Vice President and General Manager of Autonomous Driving Unit of Baidu. “Our investment will accelerate our efforts in autonomous driving with what, in our view, are the best LiDAR sensors available today and advance Velodyne’s development of increasingly sophisticated LiDAR sensors.”

Velodyne expects an exponential increase in LiDAR sensor deployments in autonomous vehicles and ADAS applications over the next several years, driving high revenue growth. To fulfill the high demand for Velodyne’s products, the company will continue to expand its resources across engineering, operations and manufacturing. In connection with this minority investment round, the Company plans to expand its board of directors to include two independent industry executives. Velodyne remains focused on strengthening its leadership in LiDAR technology development and product commercialization, working with top automotive OEM and rideshare partners to improve global transportation safety and efficiency.

Morgan Stanley acted as sole placement agent for this transaction.

About Velodyne:

Founded in 1983 by David S. Hall, Velodyne Acoustics Inc. first disrupted the premium audio market through Hall’s patented invention of virtually distortion-less, servo-driven subwoofers. Velodyne set the audio industry benchmark for premium bass sound. Hall subsequently leveraged his knowledge of robotics and 3D visualization systems to invent ground breaking sensor technology for self-driving cars and 3D mapping, introducing the HDL-64 Solid-State Hybrid LiDAR sensor in 2005. By 2007, Hall had transitioned the focus of Velodyne to LiDAR sensors and quickly experienced strong commercial adoption with industry leaders across multiple end markets.

Velodyne LiDAR has emerged as the leading supplier of solid-state hybrid LiDAR sensor technology used in a variety of commercial applications including advanced automotive safety systems, autonomous driving, 3D mobile mapping, 3D aerial mapping and security. The compact, lightweight HDL-32E sensor is available for applications including UAVs, while the VLP-16 LiDAR Puck is a 16-channel LiDAR sensor that is both substantially smaller and dramatically less expensive than previous generation sensors. The company will soon release the “Ultra Puck,” with the specifications similar to the HDL-64, but in a smaller package, designed specifically for the automotive industry. To read more about the technology including white papers visit http://www.velodynelidar.com.

About Ford:

Ford Motor Company is a global automotive and mobility company based in Dearborn, Michigan. With about 203,000 employees and 67 plants worldwide, the company’s core business includes designing, manufacturing, marketing, financing and servicing a full line of Ford cars, trucks, SUVs and electrified vehicles, as well as Lincoln luxury vehicles. At the same time, Ford aggressively is pursuing emerging opportunities through Ford Smart Mobility, the company’s plan to be a leader in connectivity, mobility, autonomous vehicles, the customer experience, and data and analytics. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford, its products worldwide or Ford Motor Credit Company, visit www.corporate.ford.com.

About Baidu:

Baidu, Inc. is the leading Chinese language Internet search provider. As a technology-based media company, Baidu aims to provide the best and most equitable way for people to find they're looking for. In addition to serving individual Internet search users, Baidu provides an effective platform for businesses to reach potential customers. Baidu's ADSs trade on the NASDAQ Global Select Market under the symbol "BIDU." Currently, ten ADSs represent one Class A ordinary share.

Contact information

Velodyne LiDAR
Laurel Nissen
lnissen@velodyne.com
or
Porter Novelli/Voce
Andrew Hussey
Andrew.hussey@porternovelli.com

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

Celltrion Receives Positive CHMP Opinion for Herzuma® for Trastuzumab Biosimilar15.12.2017 22:13Pressemelding

Celltrion, Inc. (KOSDAQ: 068270) announced today that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) issued a positive opinion recommending that Herzuma® (trastuzumab biosimilar) be granted marketing authorization in the European Union (EU) for the treatment of patients with early breast cancer, metastatic breast cancer, or metastatic gastric cancer whose tumors have either HER2 overexpression or HER2 gene amplification. The CHMP’s opinion will now be sent to the European Commission (EC) for final review. Herzuma® is a biosimilar to Herceptin®i, a breast cancer and gastric cancer treatment antibody biologic drug developed by Genentech and marketed by Roche. Herceptin® is a blockbuster drug which had worldwide sales of CHF 6.8 billionii (US$6.8 billion) in 2016, of which CHF 2.1 billioniii (US$2.1 billion) was in

Takeda and TiGenix announce that Cx601 (darvadstrocel) has received a positive CHMP opinion to treat complex perianal fistulas in Crohn’s disease15.12.2017 12:34Pressemelding

Takeda Pharmaceutical Company Limited (TSE: 4502) (“Takeda”) and TiGenix NV (Euronext Brussels and NASDAQ: TIG) (“TiGenix”) today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA), in conjunction with the Committee for Advanced Therapies (CAT), has adopted a positive opinion recommending a marketing authorization (MA) for investigational compound Cx601 (darvadstrocel). Cx601 is expected to be indicated for the treatment of complex perianal fistulas in adult patients with non-active/mildly active luminal Crohn’s disease, when fistulas have shown an inadequate response to at least one conventional or biologic therapy.2 This recommendation marks the first allogeneic stem cell therapy to receive a positive CHMP opinion in Europe. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/201712

Bitcoin Romania and Twispay Announce Integration Partnership Providing Users with the Ability to Purchase Bitcoin with Bank Cards15.12.2017 12:21Pressemelding

Bitcoin Romania, leading Eastern European Bitcoin exchange & brokerage firm, and Twispay, Swiss-owned European payment processor and FinTech pioneer, today announced the availability of a payment integration that allows a global clientele to acquire Bitcoin and Ethereum cryptocurrencies using Visa and Mastercard bank cards. Unprecedented in Romania, this is one of the first East-Central European integration partnerships that allow consumers to use their cards to purchase cryptocurrency. Until recently, investors could only acquire cryptocurrencies through bank transfers and cash deposits, but the volatility of cryptocurrency markets dictates the need for additional operational flexibility. Investors require faster, safer, more reliable, and more comfortable ways to complete purchases. “One minute can make the difference between a million lost and a million earned. That is pr

Upon Conclusion of the Fourth Annual Forum for Promoting Peace in Muslim Societies, Scholars and Intellectuals Visit the Louvre Abu Dhabi Museum15.12.2017 11:38Pressemelding

A high-level delegation of dignitaries, scholars and intellectuals participating in the fourth annual Forum for Promoting Peace in Muslim Societies, visited the Louvre Abu Dhabi museum. The delegation was headed by H.E Mustafa Ceric, former Grand Mufti of Bosnia; alongside Sheikh Mohammad Mukhtar Ould Imbala, Head of Mauritania’s Fatwa & Grievances Supreme Council; H.E Amar Mirghani Hussein, Sudanese Minister of (religious) Guidance and Endowments; and H.E Salho Jay, Imam of the Juma Masjid in South Africa. The Forum was held in Abu Dhabi from 11-13 December 2017, with the participation of more than 700 scholars, intellectuals and religious dignitaries from around the world. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171215005255/en/ Group Photo of the Scholars and Intellectuals during their visit to the L

Kennedy Wilson Acquires 124-Unit Northbank Apartments in Dublin, Ireland for €45 Million15.12.2017 11:00Pressemelding

Global real estate investment company Kennedy Wilson (NYSE: KW) announces that it has acquired Northbank Apartments, a wholly-owned 124-unit apartment community in Dublin’s North Docks, for €45 million from Jarmar Properties Limited (In Receivership) acting through David Carson of Deloitte as Statutory Receiver, the lender being the National Asset Management Agency (“NAMA”). Situated in Dublin’s North Docks, Northbank is located just 50 meters from Kennedy Wilson’s existing 84-unit Liffey Trust apartments. The two buildings benefit from great transport links as the LUAS Red line is immediately adjacent connecting to Dublin’s city centre and main train stations in five minutes. “The successful acquisition of Northbank in such close proximity to our Liffey Trust asset allows us to leverage our existing presence and implement our value-add asset management strategy, including a

AML BitCoin Enters Phase II of ICO15.12.2017 09:00Pressemelding

NAC Foundation, LLC announces today that the initial coin offering for the AML BitCoin – the world’s only patent-pending compliant digital currency – has been extended for another month to accommodate a torrent of last minute, new coin purchasers and the demands of thousands of current owners of the coin, who have had difficulty navigating the process of establishing the specialized wallet required to hold the innovative digital currency. This second phase of the AML BitCoin initial coin offering will see an increase in the price of the coin, from US $1.00 to US $1.25. The company has already been contacted by prospective purchasers in the slightly higher priced Phase II, and anticipates a further price increase to US $1.50 within a week or two. HitBTC, one of the world’s largest and most active digital currency exchanges, was prepared to list the AML BitCoin for trading on

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom