AEye Announces Partnership with Leading Automotive Electronics and Vision Solutions Provider, LITEON

Rhea-AI Summary

AEye, Inc. (NASDAQ: LIDR) announced a partnership with LITEON Technology aimed at providing AEye's lidar products to automotive OEMs focused on safety through ADAS. The collaboration will help AEye deliver long-range lidar solutions at a competitive cost. LITEON, a leading global provider of electronic solutions for automotive OEMs, brings decades of expertise to the partnership.

Positive

• Partnership with LITEON provides AEye with a customer channel and industrialization alliance, enhancing the company's market reach.

• LITEON's vast experience in automotive electronics and industrialization capability will help AEye deliver leading long-range lidar solutions at competitive costs to OEMs.

• AEye's focus on a capital light business model and leveraging automotive Tier 1 partnerships enhances the efficiency of delivering lidar solutions to OEMs.

Negative

• None.

DUBLIN, Calif.--(BUSINESS WIRE)-- AEye, Inc. (NASDAQ: LIDR), a global leader in adaptive, high-performance lidar solutions, today announced that the non-binding Letter of Intent (“LOI”) announced in March is with LITEON Technology Corporation and is intended to provide AEye with a customer channel and industrialization partnership. Both companies will work together to supply AEye’s 4Sight™-based lidar products to automotive original equipment manufacturers (“OEMs”) who are focused on safety through automotive Advanced Driver Assistance Systems (“ADAS”). This is a logical collaboration as AEye continues to focus on its unique capital light business model, which leverages automotive Tier 1 partnerships to deliver AEye’s lidar solutions to OEMs through world-class pipelines.

Matt Fisch, AEye CEO, said, “We believe that LITEON is an ideal partner for us. Their innovative spirit, vast experience in providing solutions to the automotive ADAS market, combined with their cutting-edge industrialization capability will enable us to provide the industry’s leading long-range lidar solutions at a very competitive cost to our customers. We are already collaborating on the OEM RFI/RFQ pipeline and I’m enthusiastic about our combined ability to capture a significant portion of the market.”

LITEON is a leading, global provider of electronic solutions for automotive OEMs around the world. With over four decades of expertise in the automotive electronics industry, LITEON harnesses its core competencies in optoelectronics and power management to pioneer the future of automotive electronics. Leveraging their various manufacturing facilities, LITEON supplies services from design to manufacturing to most of the top Tier 1s and OEMs in Europe and North America.

The companies are excited about this new chapter and look forward to partnering to bring AEye’s 4Sight solution to the automotive market. This partnership is poised to pioneer the industry, leveraging their unique expertise to propel the future of autonomous driving.

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.

About LITEON

LITEON Technology Corporation (2301.tw) was established in 1975. As a pioneer of LED in Taiwan, it is the first electronics company listed on TAIEX. Over the past 50 years, LITEON has secured a strong position in the global market with its leading opto-electronic and power management technology. As it successfully ventures into power supply for computing, optoelectronics, auto electronics, 5G and AIoT in recent years, LITEON aspires to power its mid and long-term development with green data center, clean mobility and efficient infrastructure as its growth engines. Given the environmental and climate change worldwide, LITEON started to follow relevant global initiatives 20 years ago to develop next-generation products that meet sustainability requirements in collaboration with the suppliers, fulfilling its social responsibilities with concrete actions.

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 non-binding collaboration between AEye and LITEON and the potential benefits that may accrue to AEye by way of the industrialization of its lidar products, 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 the non-binding nature of the Letter of Intent may not result in AEye obtaining a customer channel or industrialization partnership with LITEON to the extent anticipated, or at all; (ii) the risks that the parties may be unable to supply AEye’s 4Sight-based lidar products to automotive original equipment manufacturers, or others, as anticipated, or at all; (iii) the risks that AEye’s capital light business model may not remain unique in the lidar industry; (iv) the risks that AEye may be unable to deliver its lidar solutions to OEMs through world-class pipelines to the extent anticipated, or at all; (v) the risks that LITEON may not enable AEye to provide the industry’s leading long-range lidar solutions at a very competitive cost to customers to the extent anticipated, or at all; (vi) the risks that the collaboration between AEye and LITEON may not enable the ability to capture a significant portion of the market; (vii) the risks that the partnering of AEye and LITEON may not bring the 4Sight solution to the automotive market in the time or to the extent anticipated, or at all; (viii) the risks that the partnership between AEye and LITEON may not pioneer the industry nor propel the future of autonomous driving to the extent anticipated, or at all; (ix) the risks that lidar adoption occurs slower than anticipated or fails to occur at all; (x) the risks that AEye’s products may not meet the diverse range of performance and functional requirements of target markets and customers; (xi) the risks that AEye’s products may not function as anticipated by AEye, or by target markets and customers; (xii) 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; (xiii) 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; (xiv) 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; (xv) the risks that AEye is unable to adequately implement its business plans, forecasts, and other expectations, and identify and realize additional opportunities; and (xvi) the risks of economic 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 current or future global conflicts and the lingering effects of the COVID-19 pandemic, which continues to cause 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240509584471/en/

Leigh Bannister

AEye, Inc.

lbannister@aeye.ai

925-400-4366

Evan Niu, CFA

Financial Profiles, Inc.

eniu@finprofiles.com

310-622-8243

Source: AEye, Inc.

FAQ

What is the purpose of the partnership between AEye and LITEON?

The partnership aims to provide AEye's 4Sight-based lidar products to automotive OEMs focused on safety through ADAS.

What is the stock symbol of AEye, Inc.?

The stock symbol of AEye, Inc. is LIDR.

Who is the CEO of AEye, Inc.?

Matt Fisch is the CEO of AEye, Inc.

What is LITEON's expertise in the automotive electronics industry?

LITEON has over four decades of experience in the automotive electronics industry and specializes in optoelectronics and power management.

What market is AEye focusing on with its lidar solutions?

AEye is focusing on supplying lidar solutions to automotive OEMs through ADAS to enhance safety.

What are the core competencies of LITEON in the automotive industry?

LITEON specializes in optoelectronics and power management to provide electronic solutions to automotive OEMs.

What is AEye's unique business model in delivering lidar solutions?

AEye focuses on a capital light business model and leverages automotive Tier 1 partnerships to efficiently deliver lidar solutions to OEMs.