Velodyne Lidar Signs Multi-Year Agreement with Stanley Robotics

Rhea-AI Summary

Velodyne Lidar (NASDAQ: VLDR, VLDRW) has entered a multi-year agreement to supply lidar sensors to Stanley Robotics for its automated valet parking solution. This system enhances customer service and increases parking capacity by utilizing autonomous robots equipped with Velodyne’s technology. Currently operational in Europe and Japan, further deployments are anticipated in North America in 2023. The partnership highlights Velodyne's advanced lidar capabilities, with sensors providing real-time 3D data crucial for safe navigation and parking in confined spaces.

Positive

• Multi-year agreement with Stanley Robotics for lidar sensors enhances market position.
• Increased parking capacity by up to 50% in existing deployments improves operational efficiency.
• Expansion into North America anticipated in 2023, enhancing market reach.

Negative

• None.

Lidar-Powered Automated Valet Parking Solution Enhances Customer Service Quality, Increases Parking Capacity

SAN JOSE, Calif.--(BUSINESS WIRE)-- Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced a multi-year agreement to provide its lidar sensors to Stanley Robotics for an automated valet parking solution. The innovative service uses autonomous handling robots to help car parks to improve the customer experience and increase the number of vehicles that can be stored.

All-electric, autonomous parking valet robot "Stan" by Stanley Robotics, equipped Velodyne Lidar's Puck sensor (Photo: Stanley Robotics)

Stanley Robotics is working with Velodyne’s Puck and Velarray M1600 lidar sensors to provide perception and navigation capabilities that enable its all-electric Stan robot to operate autonomously and safely. The sensors provide real-time 3D perception data for localization, mapping, object classification and object tracking. Velodyne’s power-efficient sensors support Stan robots in a wide range of challenging environmental conditions, including varied temperature, lighting and precipitation.

The Stanley Robotics automated valet parking solution equipped with Velodyne sensors is already in operation in airports and finished vehicle logistics in Europe and Japan, with further deployments expected in 2023, including North America.

“High-performance sensors are key to enabling our autonomous mobile robots to reliably navigate and maneuver in narrow parking lanes,” said Mathieu Lips, COO, Stanley Robotics. “Velodyne’s lidar sensors deliver the performance for Stanley Robotics’ innovative solutions. This agreement reflects Velodyne's ability to serve the unique nature and high-level requirements of our use cases. This partnership with Velodyne also provides Stanley Robotics privileged access to best-in-class technology in the field of lidar sensors.”

“Stanley Robotics is transforming logistics for vehicles with its autonomous mobile robot technology,” said Laura Wrisley, Senior Vice President, Worldwide Sales, Velodyne Lidar. “Equipped with Velodyne’s lidar sensors, Stan robots provide the precision needed to safely move, park and deliver cars where and when customers need them. This advanced system aligns with efficiency and sustainability goals of car park operators, parking cars in dense blocks and relieving the need to add costly new parking areas.”

Stanley Robotics is partnered with Mitsubishi Heavy Industries, Ltd. (MHI) to deliver business opportunities in Japan and Asia-Pacific and collaborate on future industrial projects. The initiative combines Stanley Robotics’ advanced expertise in autonomous mobile parking robots and MHI’s industrial power. Also, MHI invested in Stanley Robotics technology to accelerate the delivery of value to customers.

Transforming Car Parks with Advanced Technology

Using the Stanley Robotics parking service, equipped with advanced autonomy technology utilizing Velodyne’s lidar, drivers leave their vehicles at a dedicated drop-off/pick-up area where the robot takes the car to a secure parking area not open to the public. When customers return, the car is waiting in the designated area, providing drivers with significantly enhanced convenience. The Stanley Robotics automated valet parking service, powered by Velodyne’s lidar, enables efficient use of limited parking space at airports, shopping malls and more, fitting more vehicles in a single line just centimeters apart. Car parks can then increase the number of cars in a given area by up to 50 percent.

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.

About Stanley Robotics

Stanley Robotics is a deep tech company that combines hardware and software to provide solutions for outdoor logistics. The technology lies in a robot lifting and moving cars autonomously and in an intelligent storage management software. Robotics has transformed indoor logistics (e.g., in warehouses), resulting in a spectacular increase of productivity. Stanley Robotics’ ambition is to bring this transformation to outdoor logistics with their proprietary technologies. Founded in 2015, the SME is headquartered in Paris, France, and is also behind the world's first outdoor robotic valet parking service. For more information, visit https://stanley-robotics.com/.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220927005439/en/

Investor Relations

Jim Fanucchi

Darrow Associates, Inc.

InvestorRelations@velodyne.com

Media

Jane Maynard

Velodyne Lidar

PR@velodyne.com

Source: Velodyne Lidar, Inc.

FAQ

What is the latest agreement involving Velodyne Lidar (VLDR, VLDRW)?

Velodyne Lidar announced a multi-year agreement to supply lidar sensors to Stanley Robotics for their automated valet parking solution.

How does Velodyne's lidar technology benefit Stanley Robotics?

The lidar technology enhances the autonomous valet parking system, providing real-time 3D perception necessary for navigation and localization.

Where is the Stanley Robotics valet parking solution currently operational?

The solution is currently operational in airports and logistics in Europe and Japan.

When can we expect Velodyne's technology to launch in North America?

Further deployments in North America are expected in 2023.

What are the potential benefits of the automated valet parking solution?

The solution can increase parking capacity by up to 50%, improving efficiency for car park operators.