Company Continues Growth After Strong Public
Opening
AEye, Inc. (NASDAQ: LIDR), the global leader in adaptive,
high-performance LiDAR solutions, today announced the appointment
of Jay Hohauser as vice president of ADAS, North America. Hohauser
is an automotive industry veteran with more than 25 years of
experience scaling profitable businesses domestically and
internationally. He reports to newly appointed SVP of Advanced
Driver Assist Systems (ADAS), Bernd Reichert.
Based in Detroit, Hohauser will lead AEye’s U.S. sales for
passenger and commercial vehicle ADAS deployments. In this role, he
will work directly with automotive OEMs and AEye’s Tier 1 partners
to drive widespread adoption of AEye’s LiDAR. Hohauser comes to
AEye from Valeo, where he led U.S. OEM sales and business
development efforts for the Comfort & Driving Assistance
Systems Business Group, including LiDAR sensor sales, and was
responsible for $1B in annual revenues. Prior to Valeo, he spent
two decades managing OEM accounts at various automotive suppliers,
where he continuously exceeded profitability and growth
targets.
“As someone who has worked alongside Jay for years, I can tell
you that he brings very strong business acumen in the ADAS market –
both on the OEM and supplier side,” said Reichert. “He understands
OEM and new mobility needs, as well as how to work successfully
within the automotive ecosystem to deliver automotive-grade
products at scale. Jay will be an asset to AEye and to our
customers and partners as we meet the challenge of delivering safe,
reliable automated and autonomous driving systems to the population
at large.”
“LiDAR is a must-have for higher levels of autonomy and ADAS
functionality, and AEye is a stand-out player in the LiDAR space,”
said Hohauser. “I was immediately impressed with the team, the
technology and the company’s licensing model and partner strategy
to scale manufacturing and distribution. I look forward to growing
the business, and to helping our customers deploy new,
revenue-generating safety features.”
AEye LiDAR Uniquely Enables Higher Levels of Autonomous
Functionality
AEye has developed a unique LiDAR system, making its sensor
modular and software configurable. Its LiDAR uses adaptive sensing
to deliver industry-leading performance, which addresses the most
difficult challenges facing autonomous driving, while meeting
automotive functional safety requirements. 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. As a result, AEye’s LiDAR enables higher levels
of autonomous functionality (SAE L2-L5) at the optimal performance,
power, and price.
AEye's modular system design and software programmability enable
the company to produce a single LiDAR system that can be optimized
for multiple markets – driving innovation that optimizes both
performance and cost. For automotive ADAS, AEye goes to market
through Tier 1 suppliers, including Continental, Hella, LG, Hella
and Aisin. Recently, Continental announced it has integrated AEye’s
long-range LiDAR technology into its full stack Automated Driving
platform, and is industrializing the technology for a planned start
of volume production in 2024.
This announcement comes at a time of rapid growth and expansion
for AEye. The company has already doubled in size this year, and in
recent months has added key executives to its management team, as
well as opened a Japan office. In August, the company completed its
merger with CF Finance Acquisition Corp. III and began trading on
Nasdaq under the ticker symbol “LIDR.” To get the latest AEye news
and information, sign up for the company newsletter at
https://www.aeye.ai/updates-sign-up/.
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 lidar adoption occurs slower than anticipated or
fails to occur at all; (ii) 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; (iii) the risk that AEye’s
LiDAR will be unable to successfully enable higher levels of
autonomous functionality (SAE L2-L5) at optimal performance, power,
or price, or at all; (iv) the risk that AEye’s relationship with
Tier 1 suppliers does not yield the expected results or in the
timeframe anticipated, or that such relationships terminate sooner
than expected; (v) the risk that AEye’s relationship with
Continental does not result in a successful integration of AEye’s
technology into Continental’s automated driving platform, that
Continental does not successfully industrialize AEye’s technology
into Continental’s product offerings, and that the planned start of
production does not occur in 2024, or at all; (vi) the risk that
AEye’s singular LiDAR system can be optimized effectively and
efficiently for multiple markets; (vii) the risk that AEye will be
unable to optimize its products for both performance and cost
within a reasonable time, or at all; (viii) the risk that AEye’s
products will not meet the diverse range of performance and
functional requirements of AEye’s target markets and customers;
(ix) the risk that AEye’s products will not function as anticipated
by AEye or by AEye’s target markets and customers; (x) 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; (xi) the
risk that AEye will be unable to successfully leverage existing
value chains and realize the benefits of AEye’s capital-light
business model; (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/20210908005416/en/
Media Contact: AEye, Inc. Jennifer Deitsch
jennifer@aeye.ai 925-400-4366
Investors: Financial Profiles, Inc. Matthew Keating, CFA
AEye@finprofiles.com 310-622-8230
John Brownell AEye@finprofiles.com 310-622-8489
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