Juzhen Data Tech Selects Ouster Digital Lidar for Its Autonomous Electric Delivery Vehicles

Rhea-AI Summary

Ouster, Inc. (NYSE: OUST) has signed a Strategic Customer Agreement with Juzhen Data Tech, expecting to supply 1,190 lidar sensors through 2025 for Juzhen's next-gen delivery vehicles in China. Juzhen aims to enhance its electric delivery vehicles with Ouster’s sensors for improved navigation and obstacle avoidance. Ouster’s CEO highlighted the partnership's role in advancing automation in logistics, emphasizing cost efficiency and performance. Juzhen's first electric vehicle was launched in November 2020, catering to the growing e-commerce market.

Positive

• Ouster expects to supply 1,190 lidar sensors through 2025, indicating strong demand.
• The partnership enhances Ouster's market position in the growing autonomous delivery sector.
• Juzhen's focus on new energy vehicles aligns with global sustainability trends.

Negative

• Dependence on Juzhen's production capabilities may pose risks to Ouster's supply chain.
• Potential market volatility in China could affect Ouster's revenue forecasts.

Agreement includes potential demand for 1,190 Ouster lidar sensors through 2025 as Juzhen scales production of its next-generation delivery vehicles

SUZHOU, China--(BUSINESS WIRE)-- Ouster, Inc. (NYSE: OUST) (“Ouster” or the “Company”), a leading provider of high-resolution digital lidar sensors for the industrial, automotive, smart infrastructure, and robotics industries, announced today that it has signed a Strategic Customer Agreement with Juzhen Data Tech, a technological leader in the research and development of new energy delivery vehicles, autonomous delivery vehicles and last-mile automated delivery services. Ouster expects to supply 1,190 digital lidar sensors through 2025 for Juzhen’s next-generation delivery vehicles for the Chinese market.

Juzhen Data Tech Selects Ouster Digital Lidar for Its Autonomous Electric Delivery Vehicles (Photo: Business Wire)

Juzhen plans to use Ouster digital lidar on its two next-generation electric vehicles to support autopilot functionality followed by the deployment of fully autonomous delivery vehicles on public roads. Juzhen launched its first electric delivery vehicle in November 2020 in order to support the growing e-commerce logistics market in China. The upgraded vehicle designs will incorporate one to three Ouster OS1 sensors per vehicle for mapping, navigation, and obstacle avoidance to enable more intelligent transportation systems capable of autonomous delivery between logistic hubs in urban environments.

“We chose to work with Ouster because of the high-resolution of its digital lidar. Ouster provides reliable perception data for our autonomous vehicles, which is critical when driving on public roads. Furthermore, we believe that Ouster’s scalable, digital approach will allow us to further reduce costs while improving performance over time, providing competitive advantage,” said Juzhen Data Tech’s Chief Executive Officer, Gu Zulin.

“We are excited to partner with Juzhen to further realize the benefits of digital lidar for the autonomous delivery market in China. Every major logistics company is looking to integrate greater levels of automation, whether it be for improved safety, efficiency, or cost. Ouster is advancing automation across the global supply chain by offering sensors with the best combination of price and performance along with a highly-scalable manufacturing process,” said Ouster CEO, Angus Pacala.

About Juzhen Data Tech

Juzhen Data Tech is a technology company focusing on the research and development of new energy delivery vehicles, autonomous delivery vehicles, and last-mile automated delivery services. Juzhen Data Tech is the first autonomous driving technology company to qualify for national vehicle production in China. The Company’s founding team members have extensive experience in Tier One automotive suppliers and automotive OEMs, including BMW and Mercedes-Benz, Chinese logistics companies including Cainiao, and Chinese technology companies, including Alibaba and Weibo. Juzhen Data Tech integrates AI technology and industrial capabilities onto new energy vehicles to provide green, safe and efficient solutions for urban delivery. Juzhen Data Tech has an intelligent automotive production facility in Shandong, covering more than 500 acres with 4 technological processes of stamping, welding, painting, and final assembly. Its annual capacity is 100,000 vehicles. For more information, please visit www.juzhen.cn.

About Ouster

Ouster (NYSE: OUST) is a leading provider of high-resolution digital lidar sensors for the industrial, smart infrastructure, robotics, and automotive industries. Ouster products offer an excellent combination of price and performance and are built to a set of requirements that are flexible enough to span hundreds of use cases and enable revolutionary autonomy across industries. Ouster has approximately 600 customers in over 50 countries with offices in the Americas, Europe, Asia-Pacific and the Middle East. For more information, visit www.ouster.com, or connect with us on Twitter or LinkedIn.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding ability to sell its products in the Middle East, growth and retention of distributors, adoption of its products by OEMs and other customers in the Middle East, suitability of the applications for certain automated applications, potential supply demand for Ouster’s sensors, financial outlook and market positioning. Forward-looking statements give Ouster’s current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including: Ouster’s limited operating history and history of losses; the adoption of its products and the growth of the lidar market generally; the competitive environment in which it operates; its future capital needs; its ability to adequately protect and enforce its intellectual property rights; its ability to effectively respond to evolving regulations and standards relating to applications in which its products are frequently used; its reliance on a third-party manufacturer; the timing of revenue from existing customers; uncertainties related to Ouster’s estimates of the size of the markets for its products and future revenue opportunities; and other important factors discussed in the Company’s final prospectus and definitive proxy statement, dated February 12, 2021, filed with the Securities and Exchange Commission (the “SEC”), as updated by the factors disclosed in the section titled “Risk Factors” in its Current Report on Form 8-K filed with the SEC on March 15, 2021, and in other reports the Company files with or furnishes to the SEC. Any such forward-looking statements represent management’s estimates and beliefs as of the date of this press release. While Ouster may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, even if subsequent events cause its views to change.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210913005486/en/

For Investors

Sarah Ewing

investors@ouster.io

For Media

Heather Shapiro

press@ouster.io

Source: Ouster, Inc.

FAQ

What is the Strategic Customer Agreement between Ouster and Juzhen Data Tech?

Ouster has signed a Strategic Customer Agreement to supply 1,190 lidar sensors to Juzhen Data Tech for their next-generation delivery vehicles in China, expected to be fulfilled through 2025.

How many lidar sensors will Ouster supply to Juzhen Data Tech?

Ouster will supply a total of 1,190 lidar sensors to Juzhen Data Tech as part of their agreement.

What is the significance of Ouster's partnership with Juzhen Data Tech?

The partnership positions Ouster favorably in the autonomous delivery market in China, as logistics companies increasingly adopt automation technologies.

What type of vehicles will use Ouster's lidar sensors?

Juzhen Data Tech plans to use Ouster's lidar sensors in their next-generation electric delivery vehicles to support autopilot functionality and enhance navigation.

When was Juzhen's first electric delivery vehicle launched?

Juzhen launched its first electric delivery vehicle in November 2020 to serve the expanding e-commerce logistics market in China.