BAIC Group's Deputy General Manager States that Arbe's Radar Technology Will be Installed in Mass-Produced Vehicles
Arbe Robotics (Nasdaq: ARBE) announced its radar technology will be integrated into mass-produced vehicles by BAIC Group, a leading Chinese auto manufacturer. This collaboration, revealed at the Auto Capital Forum by Deputy General Manager Chen Jiang, highlights BAIC's investment in Arbe as part of its intelligent driving initiatives. BAIC, which sold 1.9 million cars in 2020 and generated approximately $77.8 billion in operating income, aims to enhance its autonomous driving capabilities through this strategic partnership.
- Collaboration with BAIC Group to integrate Arbe's radar technology into mass-produced vehicles.
- BAIC Group's significant market presence with 1.9 million cars sold in 2020.
- Potential for Arbe's technology to enhance autonomous driving capabilities.
- None.
TEL AVIV, Israel, Nov. 3, 2021 /PRNewswire/ -- Arbe Robotics Ltd. (Nasdaq: ARBE) ("Arbe"), a global leader in next-generation 4D Imaging Radar Solutions, announced today that Arbe's radar technology is expected to be installed on BAIC Group, an auto manufacturer based in China, mass-produced models, according to a statement made by BAIC Group's Deputy General Manager, Chen Jiang.
Mr. Chen participated in the 2021 Auto Capital Forum of the Securities Daily. During the conference, he provided the following statement (translated from Chinese): BAIC Group is actively deploying the intelligent driving value chain through industrial investments, hence it has invested in Arbe, a 4D millimeter wave imaging radar supplier from Israel, among other investments. The next-generation radar developed by Arbe and HiRain, a leading Chinese tier 1 supplier, is expected to be installed gradually on BAIC Group's mass-produced models, after the radar systems' mass production.
According to Mr. Chen, BAIC Group is a backbone enterprise group in China's automotive industry. The company was established in 1958, and sold 1.9 million cars in 2020, with an operating income of 497.8 billion yuan (approximately
About Arbe
Arbe (Nasdaq: ARBE), a global leader in next-generation 4D Imaging Radar Chipset Solutions, is spearheading a radar revolution, enabling truly safe driver-assist systems today while paving the way to full autonomous-driving. Arbe's imaging radar is 100 times more detailed than any other radar on the market and is a mandatory sensor for L2+ and higher autonomy. Arbe is empowering automakers, tier-1 suppliers, autonomous ground vehicles, commercial and industrial vehicles, and a wide array of safety applications with advanced sensing and paradigm-changing perception. Arbe is a leader in the fast-growing automotive radar market that has an estimated projected total addressable market of
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. The words "expect," "believe," "estimate," "intend," "plan," "anticipate," "project," "may," "should," "strategy," "future," "will," "project," "potential" and similar expressions indicate forward-looking statements. 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. Statements that are not historical facts, including statements about the future integration by BAIC Group of Arbe's technology into its products and those of its tier-1 supplier, are forward-looking statements. Such statements include, but are not limited to, statements regarding the future integration by BAIC Group of Arbe's technology into its products, integration of Arbe's products into those of HiRain, BAIC Group's intent to invest in and advance intelligent driving, anticipated future financial and operating performance and results attributable therefrom, the expected timing of the implementation of the results of the testing by autonomous driving companies, , the timing of full production, what constitutes full production, the inclusion of Arbe's chipset in the full production product, BAIC's advancing its relationship with Arbe by reaching and entering into an agreement with respect to terms of , and Arbe's ability to deliver the chipsets at the price and in accordance with the BAIC Group. You should carefully consider the risk factors and uncertainties described in "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Cautionary Note Regarding Forward-Looking Statements" and the additional risk described in Amendment No. 1 to the Registration Statement on Form F-1, which was filed by Arbe with the Securities and Exchange Commission on October 29, 2021, as well as the other documents filed by Arbe with the SEC. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements.
Forward-looking statements relate only to the date they were made, and Arbe does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.
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