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AEye Opens Munich Office, Appoints Technical Sales Director for Europe
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
AEye, Inc. (NASDAQ: LIDR) has expanded its global footprint with the opening of a new office in Munich, Germany. This move aims to better support its growing customer base in sectors such as automotive, mobility, and smart infrastructure. Veteran automotive leader Andreas Prinz has been appointed as the Technical Sales Director for Europe, bringing over 20 years of industry experience. AEye has experienced strong demand in Europe, prompting the need for an on-the-ground presence. This office will enhance collaboration with partners and clients while pushing forward AEye's mission for safe autonomy.
Positive
Opening of a new office in Munich to support growth in Europe.
Appointment of experienced leader Andreas Prinz as Technical Sales Director.
Strong demand and traction in Europe across various application segments.
Global expansion indicates a strategic focus on increasing market presence.
Negative
Potential risks associated with establishing a new office that may not meet customer needs.
Concerns over sustaining demand in Europe as market conditions evolve.
Uncertainty regarding maintaining relationships with existing and new partners.
Software-defined Lidar Leader Expands Global Presence to Support Current and Growing Customer Base
DUBLIN, Calif.--(BUSINESS WIRE)--
AEye, Inc. (NASDAQ: LIDR), the global leader in adaptive, high-performance lidar solutions, today announced the opening of its office in Munich, Germany. The new location supports AEye’s current and prospective customers in the region across its addressable markets, including automotive, mobility, trucking, logistics and smart infrastructure. The company also announced the appointment of veteran automotive engineering leader Andreas Prinz as technical sales director for AEye in Europe.
Andreas Prinz, technical sales director for AEye in Europe. (Photo: Business Wire)
“We’ve experienced strong demand and traction in Europe across application segments, necessitating an on-the-ground physical presence to support AEye’s growing customer base,” said Bernd Reichert, senior vice president of Automotive for AEye. “The new office will be led by Andreas Prinz, who has not only deep industry experience, but a long track record of successfully building and optimizing the performance of teams in various markets.”
Prinz comes to AEye with more than two decades of experience in automotive software. He most recently served as the director of customer programs for TTTech Auto in Munich, where Prinz led a software task force of 180 people. Prior to that, he held director roles at both Magna Electronics and Harman, as well as various engineering roles at companies such as Continental Automotive Systems and Motorola.
“Ramping up the Germany office is a natural next step in what has been a period of sustained growth for AEye,” said Reichert. “We are looking forward to working with existing customers, partners, suppliers and system integrators in Europe, while simultaneously engaging with new partners to serve the demand for safe, reliable autonomous solutions across the globe.”
Over the past year, AEye has positioned itself for growth at scale through technology validation, product advancements, the attainment of manufacturing milestones with key go-to-market partners, and company expansion to advance its mission to drive the future of safe autonomy.
AEye is the first and only lidar company to validate its sensor’s performance through a leading third-party testing service and recently passed the milestone of more than 100 patents filed globally, spanning four continents and more than 10 countries. In addition, in 2021, AEye became a publicly traded company listed on the Nasdaq stock exchange, doubled in size, and opened offices in Korea and Japan.
The AEye Germany office is located at 88 North Riesstrasse 16, in Munich. For more information, or to schedule a meeting or real-time demo, contact aeye.europe@aeye.ai.
About AEye AEye’s unique software-defined lidar solution enables advanced driver-assistance, vehicle autonomy, smart infrastructure, logistics and off-highway 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, Japan, 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 AEye’s customer acceptance, especially in the European region, AEye’s products and business plan, 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 our control. 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 our new location in Munich, Germany will not be capable of supporting our current and prospective customers in the region; (ii) the risks that the strong demand and traction in Europe will not continue as anticipated across our application segments, or at all; (iii) the risks that our customer base will not continue to grow as anticipated, or at all; (iv) the risks that the period of our sustained growth will not continue as anticipated, or continue at all; (v) the risks that we will be unable, for any reason, to continue to support existing partners, suppliers, and system integrators in Europe and simultaneously engage with new partners at the levels expected, or at all; (vi) the risks that we have not adequately positioned ourselves for growth at scale, whether through technology validation, product advancements, the attainment of manufacturing milestones, or company expansion; (vii) the risks that the validation of our sensor’s performance will translate in real world conditions, or that the validation will apply to future products; (viii) the risks that the 100 patent applications we have filed will not be issued or be sufficient to adequately protect our intellectual property rights; (ix) the risks that our patent applications were not filed in jurisdictions in which alleged infringements occur and therefore we will lack any right to enforce such rights; (x) the risks that we will be able to successfully launch products into the market, or at all; (xi) the risks that lidar adoption occurs slower than anticipated or fails to occur at all; (xii) the risks that laws and regulations are adopted impacting the use of lidar that we are unable to comply with, in whole or in part, changes in competitive and regulated industries in which we operate, variations in operating performance across competitors, and changes in laws and regulations affecting our business; (xiii) the risks that we are unable to adequately implement our business plans, forecasts, and other expectations, and identify and realize additional opportunities; and (xiv) the risks of downturns and a changing regulatory landscape in the highly competitive and evolving industry in which we operate. These risks and uncertainties may be amplified by the COVID-19 pandemic, including the Delta, Omicron, Deltacron, and future variants and subvariants, which has caused 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 Annual Report on Form 10-K that we 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; we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. We give no assurance that we will achieve any of our expectations.
