Velodyne Lidar Signs Multi-Year Agreement with Yamaha Motor

Rhea-AI Summary

Velodyne Lidar (Nasdaq: VLDR, VLDRW) has entered a multi-year agreement with Yamaha Motor to supply lidar sensors for the eve auto autonomous goods transport service. This partnership aims to enhance factory logistics by improving efficiency and safety. The lidar sensors will support the launch of eve auto in October 2022, enabling autonomous navigation in factory environments. With a towing capacity of 1500 kg and a versatile setup, eve auto offers a complete solution for indoor and outdoor goods transport.

Positive

• Multi-year agreement with Yamaha Motor for lidar sensors.
• Launch of eve auto expected in October 2022, enhancing factory logistics.
• eve auto offers a towing capacity of 1500 kg and versatile operational capabilities.

Negative

• None.

Lidar-Powered Goods Transport to Advance Factory Logistics

SAN JOSE, Calif.--(BUSINESS WIRE)-- Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced a multi-year agreement to provide its lidar sensors to Yamaha Motor for eve autonomy, a joint venture between Yamaha Motor and Tier IV, Inc. eve autonomy’s autonomous goods transport service eve auto provides logistical support for factories to improve efficiency and safety. Velodyne has already begun shipping sensors to Yamaha Motor to support an October 2022 launch of eve auto.

eve auto, an autonomous goods transport service from eve autonomy, a joint venture between Yamaha Motor and Tier IV, Inc. Photo credit: eve autonomy/Yamaha Motor

Yamaha Motor is using Velodyne’s Puck lidar sensors to provide localization and navigation capabilities for their eve auto all-in-one automated conveyance service. Velodyne’s lidar sensors enable the small electric vehicles to navigate factory facilities autonomously.

eve auto is a full-service solution that provides customers with a quick set up that does not require any construction. Built for both indoor and outdoor applications that allows customers to transport goods autonomously, eve auto has a towing capacity of 1500 kg and can navigate slopes up to 7 degrees and gaps up to 3 cm. With operational support offering fleet management and mapping services, eve auto’s subscription model provides customers access to maintenance and the latest software. eve auto’s autonomous capabilities are enabled by Velodyne’s lidar technology and can be connected with existing infrastructures and external systems through web API.

“Velodyne’s versatile and high performing sensors help eve auto provide a robust automated solution for our customers,” said Takahiro Watanabe, General Manager New Business Development Division at Yamaha Motor. “Velodyne’s lidar technology delivers the range, accuracy and resolution needed for our solution to navigate complex indoor and outdoor factory settings.”

“Yamaha Motor’s eve auto is transforming the factory logistics industry by offering a complete package solution of autonomous transport,” said Laura Wrisley, Senior Vice President, Worldwide Sales, Velodyne Lidar. “Equipped with Velodyne’s Puck lidar sensors, eve auto is a user-friendly service that can significantly reduce the barrier of entry for companies wanting autonomous transport solutions to improve efficiency and factory safety.”

For more information, contact Velodyne Sales at 669.275.2526 or sales@velodyne.com.

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, a 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221011005602/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 agreement between Velodyne Lidar and Yamaha Motor?

Velodyne Lidar has signed a multi-year agreement to supply lidar sensors to Yamaha Motor for its eve auto autonomous goods transport service.

What is the launch date for the eve auto service?

The eve auto service is set to launch in October 2022.

What capabilities does the eve auto service offer?

eve auto can tow up to 1500 kg and navigate slopes up to 7 degrees and gaps up to 3 cm.

How does Velodyne Lidar contribute to the eve auto service?

Velodyne’s lidar sensors provide navigation and localization capabilities vital for the autonomous operation of eve auto.

What stock symbols are associated with Velodyne Lidar?

The stock symbols for Velodyne Lidar are VLDR and VLDRW.