Velodyne Lidar Signs Multi-Year Agreement with Boston Dynamics

Rhea-AI Summary

Velodyne Lidar (NASDAQ: VLDR, VLDRW) has secured a multi-year agreement to provide lidar sensors to Boston Dynamics, a leader in mobile robotics. This partnership will enhance Boston Dynamics' robots with advanced navigation and perception capabilities, allowing them to operate autonomously in various challenging environments. The lidar sensors are designed for real-time data processing for mapping, object classification, and tracking, enabling robots to safely navigate complex settings without human intervention. This collaboration aims to improve automation across multiple industries.

Positive

• Secured a multi-year agreement with Boston Dynamics.
• Partnership enhances robotic capabilities with advanced navigation features.
• Lidar sensors support autonomous operation in various environmental conditions.

Negative

• None.

SAN JOSE, Calif.--(BUSINESS WIRE)-- Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced a multi-year agreement for its lidar sensors with Boston Dynamics, the global leader in mobile robotics. Boston Dynamics selected Velodyne’s sensors to provide perception and navigation capabilities for its highly mobile robots, which are capable of tackling the toughest robotics challenges.

Boston Dynamics selected Velodyne Lidar’s sensors to provide perception and navigation capabilities for its highly mobile robots, which are capable of tackling the toughest robotics challenges. Pictured here: Boston Dynamics’ Spot mobile robot equipped with a Velodyne lidar sensor. (Photo: Boston Dynamics)

Velodyne’s lidar sensor solutions enable mobile robots to operate autonomously and safely, without human intervention. They provide real-time 3D perception data for localization, mapping, object classification and object tracking. Velodyne’s power-efficient sensors support autonomous mobile robots in a wide range of challenging indoor and outdoor environmental conditions, including varying temperature, lighting and precipitation.

“Boston Dynamics has signed a supply agreement with Velodyne Lidar, and we are excited to continue working together to enhance and extend the capabilities of mobile robots,’’ said Eric Landry, Director Supply Chain, Boston Dynamics.

“Boston Dynamics robots provide advanced mobility, dexterity and intelligence that enable automation in unfamiliar and unpredictable settings,” said Laura Wrisley, Senior Vice President of Worldwide Sales, Velodyne Lidar. “Equipped with Velodyne’s lidar sensors, their robots can autonomously navigate complex environments. They can safely avoid obstacles and find the fastest route to perform vital tasks in environments from manufacturing plants and construction sites to distribution centers and warehouses.”

About Velodyne Lidar

Velodyne Lidar (Nasdaq: VLDR, VLDRW) ushered in a new era of autonomous technology with the invention of real-time surround view lidar sensors. Velodyne, the global leader in lidar, is known for its broad portfolio of breakthrough lidar technologies. Velodyne’s revolutionary sensor and software solutions provide flexibility, quality and performance to meet the needs of a wide range of industries, including robotics, industrial, intelligent infrastructure, autonomous vehicles and advanced driver assistance systems (ADAS). Through continuous innovation, Velodyne strives to transform lives and communities by advancing safer mobility for all.

Forward Looking Statements

This press release contains "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 including, without limitation, all statements other than historical fact and include, without limitation, statements regarding Velodyne’s target markets, new products, development efforts, and competition. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," “can,” "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Velodyne's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include uncertainties regarding government regulation and adoption of lidar, the uncertain impact of the COVID-19 pandemic on Velodyne's and its customers' businesses; Velodyne's ability to manage growth; Velodyne's ability to execute its business plan; uncertainties related to the ability of Velodyne's customers to commercialize their products and the ultimate market acceptance of these products; the rate and degree of market acceptance of Velodyne's products; the success of other competing lidar and sensor-related products and services that exist or may become available; uncertainties related to Velodyne's current litigation and potential litigation involving Velodyne or the validity or enforceability of Velodyne's intellectual property; and general economic and market conditions impacting demand for Velodyne's products and services. For more information about risks and uncertainties associated with Velodyne’s business, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of Velodyne’s SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. All forward-looking statements in this press release are based on information available to Velodyne as of the date hereof, Velodyne undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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Source: Velodyne Lidar Inc.

FAQ

What recent agreement did Velodyne Lidar enter into?

Velodyne Lidar announced a multi-year agreement to supply lidar sensors to Boston Dynamics.

How will Velodyne's sensors impact Boston Dynamics' robots?

The sensors will enhance the robots' navigation and perception capabilities, allowing for autonomous operation.

What are the potential applications for Velodyne's lidar sensors?

The sensors can be used in various settings including manufacturing plants, construction sites, and distribution centers.

What ticker symbols represent Velodyne Lidar?

Velodyne Lidar is represented by the ticker symbols VLDR and VLDRW on Nasdaq.