AEye, Inc. (NASDAQ: LIDR) the global leader in adaptive,
high-performance LiDAR solutions, today announced a partnership
with Benchmark Electronics, Inc. (NYSE: BHE). As one of the world’s
leading providers of engineering, design, and manufacturing
services, Benchmark will ensure the quality and reliability of
AEye’s 4Sight™ LiDAR sensors while rapidly scaling manufacturing to
meet volume production needs. The engagement specifically focuses
on manufacturing critical optical components and modules in AEye’s
sensors targeted for a broad range of industrial markets.
AEye's modular system design and software programmability
uniquely enable the company to produce a single LiDAR system that
can be optimized for multiple markets – driving innovation that
optimizes both performance and cost. Utilizing mature proven
technologies and standard processes, AEye partners with
well-established global automotive-grade component suppliers and
leading contract manufacturers to create this next generation of
adaptive LiDAR.
“Our modular, software definable architecture allows us to
select best-in-class partners and maintain a capital-light business
model. We needed a world-class partner to help us bring our optical
modules to market quickly and we found the perfect partner with
Benchmark,” said Rick Tewell, Chief Operating Officer of AEye.
“Benchmark’s team has done outstanding work and we look forward to
leveraging their manufacturing excellence and ability to scale to
satisfy our worldwide customer base.”
The AEye 4Sight LiDAR sensors are designed to meet the diverse
range of performance and functional requirements to power
autonomous and partially automated applications in transit, mining,
construction, smart city, aerospace, and defense markets. AEye’s
intelligent LiDAR uses adaptive sensing to deliver
industry-leading performance, independently verified by
leading third-party labs, which addresses the most difficult
challenges facing autonomous applications. Unlike traditional
sensing systems, which passively collect data, AEye’s adaptive
LiDAR scans the entire scene, while intelligently focusing on what
matters in order to enable safer, smarter, and faster decisions in
complex scenarios.
“AEye’s uniquely intelligent and adaptive LiDAR leverages
deterministic AI to focus on what matters most in a vehicle’s
surroundings and has become an increasingly essential technology
for autonomous applications,” said Jeff Benck, president and CEO,
Benchmark. “Working with AEye from design stages to final
manufacturing of the complex scan block, a component critical to
the safe function of autonomous vehicles, is indicative of
Benchmark’s vision: solving complex challenges with our customers
to help create innovative and high-quality products.”
To meet AEye’s required optical module cost and rapid
manufacturing cycles, Benchmark is leveraging its tremendous
experience to reduce the size of the optics, apply design for
manufacturing (DFM) principles, and ruggedize the LiDAR solutions
through hermetic sealing processes. Work has already begun on the
4Sight optical module manufacturing lines and will soon drive into
production.
About AEye
AEye is the premier provider of intelligent, next generation,
adaptive LiDAR for vehicle autonomy, advanced driver-assistance
systems (ADAS), and robotic vision applications. AEye’s iDAR™
(Intelligent Detection and Ranging) system leverages biomimicry and
principles from automated targeting applications used by the
military to scan the environment, intelligently focusing on what
matters most, enabling faster, more accurate, and more reliable
perception. iDAR is the only software configurable LiDAR with
integrated deterministic artificial intelligence, delivering
industry-leading performance in range, resolution, and speed. The
company was founded in 2013 and is based in the San Francisco Bay
Area.
Forward-Looking Statements
Certain statements included in this press release that are not
historical facts are forward-looking statements within the meaning
of the federal securities laws, including the safe harbor
provisions under the United States Private Securities Litigation
Reform Act of 1995. Forward-looking statements are sometimes
accompanied by words such as “believe,” “continue,” “project,”
“expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,”
“opportunity,” “predict,” “plan,” “may,” “should,” “will,” “would,”
“potential,” “seem,” “seek,” “outlook,” and similar expressions
that predict or indicate future events or trends, or that are not
statements of historical matters. Forward-looking statements are
predictions, projections, and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. These statements
are based on various assumptions, whether or not identified in this
press release. These forward-looking statements are provided for
illustrative purposes only and are not intended to serve as and
must not be relied on by an investor as a guarantee, an assurance,
a prediction, or a definitive statement of fact or probability.
Actual events and circumstances are very difficult or impossible to
predict and will differ from the assumptions. Many actual events
and circumstances are beyond the control of AEye. Many factors
could cause actual future events to differ from the forward-looking
statements in this press release, including but not limited to: (i)
the risk that AEye and Benchmark will be unable to achieve the
necessary minimum levels of quality and reliability required by
AEye’s target markets and customers; (ii) the risk that AEye and
Benchmark will be unable to rapidly scale manufacturing and meet
the volume production needs required by AEye’s target markets and
customers; (iii) the risk that lidar adoption occurs slower than
anticipated or fails to occur at all; (iv) the risk that AEye’s
singular LiDAR system can be optimized effectively and efficiently
for multiple markets; (v) the risk that AEye’s relationship with
Benchmark does not yield the expected results or in the timeframe
anticipated, or that such relationship terminates sooner than
expected; (vi) the risk that AEye will be unable to optimize its
products for both performance and cost within a reasonable time, or
at all; (vii) the risk that AEye’s products will not meet the
diverse range of performance and functional requirements of AEye’s
target markets and customers; (viii) the risk that AEye’s products
will not function as anticipated by AEye or by AEye’s target
markets and customers; (ix) the risk that AEye may not be in a
position to adequately or timely address either the near or
long-term opportunities that may or may not exist in the evolving
autonomous transportation industry; (x) the risk that AEye will be
unable to successfully realize the benefits of AEye’s capital-light
business model; (xi) the risk that AEye will be unable to
successfully leverage Benchmark’s manufacturing abilities or
Benchmark’s ability to scale; (xii) the risk that laws and
regulations are adopted impacting the use of lidar that AEye is
unable to comply with, in whole or in part; (xiii) changes in
competitive and regulated industries in which AEye operates,
variations in operating performance across competitors, and changes
in laws and regulations affecting AEye’s business; (xiv) the risk
that AEye is unable to adequately implement its business plans,
forecasts, and other expectations, and identify and realize
additional opportunities, (xv) the potential inability of AEye to
scale its manufacturing capacity or to achieve efficiencies
regarding its manufacturing processes or other costs; and (xvi) the
risk of downturns and a changing regulatory landscape in the highly
competitive and evolving industry in which AEye operates. These
risks and uncertainties may be amplified by the COVID-19 pandemic,
which has caused significant economic uncertainty. The foregoing
list of factors is not exhaustive. You should carefully consider
the foregoing factors and the other risks and uncertainties
described in the “Risk Factors” section of the registration
statement on Form S-4, that includes a definitive proxy
statement/prospectus, that AEye (formerly known as CF Finance
Acquisition Corp. III) filed with the U.S. Securities and Exchange
Commission (the “SEC”) and other documents filed by AEye or that
will be filed by AEye from time to time with the SEC. These filings
identify and address other important risks and uncertainties that
could cause actual events and results to differ materially from
those contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on
forward-looking statements; AEye assumes no obligation and does not
intend to update or revise these forward-looking statements,
whether as a result of new information, future events, or
otherwise. AEye gives no assurance that AEye will achieve any of
its expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20210831005257/en/
AEye, Inc. Jennifer Deitsch jennifer@aeye.ai
925-400-4366
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