Companies Team to Accelerate Development of
Driverless Trucks for China’s Logistics Market
Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced a
strategic partnership with Beijing Trunk Technology Co., Ltd.
(Trunk.Tech). The companies will collaborate in developing
next-generation autonomous heavy trucks and to accelerate
commercialization of driverless trucks in China’s logistics
market.
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Velodyne Lidar and Trunk.Tech will
collaborate in developing next-generation autonomous heavy trucks
and to accelerate commercialization of driverless trucks in China’s
logistics market. (Photo: Trunk.Tech)
Velodyne and Trunk.Tech will cooperate on lidar-enabled products
that meet the demanding requirements of high-speed transportation
logistics. These solutions will strengthen object awareness and
detection capabilities of unmanned heavy trucks and are designed to
promote rapid, large-scale vehicle production in a cost-effective,
efficient way. Trunk.Tech has close cooperation with commercial
vehicle OEMs to produce driverless trucks and ensure the vehicles
comply with vehicle safety regulations.
Trunk.Tech is the first company in China to independently
develop SAE Level 4 driverless trucks, based on its own powerful
driverless hardware and software systems. It uses Velodyne’s lidar,
including Ultra Puck™, Puck™ and Velarray H800 sensors, as core
sensor hardware in its autonomous trucks. Trunk.Tech selected
Velodyne due to sensor quality, performance and mass production
capacity.
“Autonomous trucks can supplement labor gaps, save fuel costs
and enhance logistics, as well as improve transportation safety and
help reduce truck accident rates,” said Dr. Zhang TianLei, CEO,
Trunk.Tech. “Velodyne sensors, combined with our multi-sensor
fusion algorithms, enable trucks to achieve high-precision,
long-range real-time sensing to support autonomous driving on
complex road environments. Velodyne has the expertise and
manufacturing scale to help us transform trucking and our companies
share a strong focus on vehicle safety.”
“Trunk.Tech is leading the industry in demonstrating how
autonomous vehicle technology, powered by lidar, is bringing major
efficiency and safety advances to trucking,” said Anand Gopalan,
Chief Executive Officer, Velodyne Lidar. “We look forward to
working closely with Trunk.Tech on creating next-generation
autonomous driving solutions that dramatically improve how goods
and materials move in logistics networks.”
Trunk.Tech: Deep Experience in Autonomous Trucking
In the last few years, Trunk.Tech has deployed Velodyne lidar
sensors on dozens of driverless trucks that have been delivered to
commercial customers. Currently, these vehicles are operating
autonomously at ports in China on a 24/7/365 basis to support
operations.
Since winning China’s first commercial road test license in
2018, Trunk.Tech driverless trucks have carried out a large number
of practical road tests on China roadways. It completed the
country’s first high-speed test for fully autonomous driving. In
2019, Trunk.Tech won key national research and development program
projects, becoming the first driverless technology company to
receive right-of-way support.
Trunk.Tech is actively building a broad intelligent logistics
ecosystem to support autonomous trucking in China. The ecosystem
includes Trunk.Tech and Bosch Group at the driverless truck
terminal. It also includes strategic partners China Heavy
Automobile, Uberco, Ulse Automotive and Geely Commercial Vehicles
for collaboration to promote mass production.
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 is the first public pure-play lidar company
and is known worldwide 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, 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 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; uncertainties related to Velodyne's
estimates of the size of the markets for its products;
uncertainties regarding government regulation and adoption of lidar
for pedestrian safety, traffic congestion and smart city
applications; 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; Velodyne's ability to identify and integrate
acquisitions; 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. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210119005243/en/
Investor Relations Andrew Hamer Chief Financial Officer
InvestorRelations@velodyne.com
Media Landis Communications Inc. Sean Dowdall (415)
286-7121 velodyne@landispr.com
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