With Company's Commitment to Safety Paramount, Velodyne Lidar Will Not Participate in Person at CES 2022

Rhea-AI Summary

Velodyne Lidar (Nasdaq: VLDR, VLDRW) announces its decision to forgo in-person participation at CES 2022 due to rising COVID-19 cases. Prioritizing safety, the company will host a virtual press conference on January 5 at 11:45 a.m. PST, where CEO Dr. Ted Tewksbury will discuss developments in lidar technology and future visions. Velodyne, a leader in lidar innovations, aims to enhance safety and efficiency across various sectors, including autonomous vehicles.

Positive

• Hosting a virtual press conference allows for continued engagement with customers and partners.
• Commitment to employee safety may enhance company reputation.
• Dr. Tewksbury's insights may drive interest in Velodyne's lidar solutions.

Negative

• Forgoing in-person participation may limit networking opportunities and visibility at CES.
• Rising COVID-19 infection rates indicate potential ongoing operational challenges.

Press Conference to Be Held Virtually on January 5 at 11:45 a.m. PST

SAN JOSE, Calif.--(BUSINESS WIRE)-- Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) will not participate in person at CES 2022 due to the surge in COVID-19 infection rates. The health and safety of employees, partners and the public are the topmost priorities for Velodyne and were the primary factors in the company’s decision.

Velodyne will still have a digital presence in CES and will host a virtual press conference on January 5 at 11:45 a.m. PST, which can be viewed live via webcast. The webcast link will be available on Velodyne’s ‘Events & Presentations’ webpage at that time. During the 45-minute press conference, CEO Dr. Ted Tewksbury will discuss how the company’s lidar sensors and software are shaping autonomous solutions in a wide range of markets. Additionally, he will share his vision for the future of lidar and what customers can expect from Velodyne in 2022 and beyond.

“At Velodyne, we stand by our vision: science in service of safety. This carries through in everything we do towards protecting a world in motion. While we were looking forward to connecting in person at CES 2022, to stay true to our commitment to safety, we’ve determined the most responsible course for the well-being of our employees, partners and the public is to forgo attending the event in person. While we will not be attending CES 2022 physically, we welcome engaging with customers and partners on how our lidar technology powers autonomous solutions that bring safety, sustainability, efficiency and privacy benefits,” said Dr. Tewksbury.

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 autonomous vehicles, advanced driver assistance systems (ADAS), robotics, unmanned aerial vehicles (UAV), smart cities and security. Through continuous innovation, Velodyne strives to transform lives and communities by advancing safer mobility for all. For more information, visit www.velodynelidar.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/20211228005205/en/

Velodyne Investor Relations

InvestorRelations@velodyne.com

Velodyne Media

Codeword

Liv Allen

velodyne@codewordagency.com

Source: Velodyne Lidar, Inc.

FAQ

When is Velodyne Lidar's virtual press conference?

Velodyne Lidar's virtual press conference is scheduled for January 5 at 11:45 a.m. PST.

Why is Velodyne Lidar not attending CES 2022 in person?

Velodyne Lidar is not attending CES 2022 in person due to the surge in COVID-19 infection rates, prioritizing health and safety.

What will be discussed in Velodyne Lidar's virtual press conference?

CEO Dr. Ted Tewksbury will discuss how Velodyne's lidar sensors are shaping autonomous solutions and his vision for the future.

What are the stock symbols for Velodyne Lidar?

Velodyne Lidar trades under the stock symbols VLDR and VLDRW.