Business Wire

Velodyne Lidar and Trunk.Tech Announce Strategic Partnership in Autonomous Trucking

Share

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.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210119005243/en/

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 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.

Contact information

Investor Relations
Andrew Hamer
Chief Financial Officer
InvestorRelations@velodyne.com

Media
Landis Communications Inc.
Sean Dowdall
(415) 286-7121
velodyne@landispr.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

C3.ai Digital Transformation Institute Announces Shell as New Industry Partner4.3.2021 20:00:00 CETPress release

The C3.ai Digital Transformation Institute (DTI) today announced that global energy company Shell is the newest industry partner to join the consortium of universities, national laboratories, and companies that make up the Institute. Shell’s Chief Scientist - Computation and Data Science Detlef Hohl will represent the company in the consortium. The DTI Industry Partner Program enables leading companies from around the world to engage with DTI researchers and activities and to contribute data sets that will be available for research after anonymization. Industry partners also are encouraged to engage with Institute researchers and collaborate on research projects as well as participate in DTI conferences. DTI recently released its second call for proposals to fund advanced research projects focused on applying digital transformation and AI to address energy and climate security. “Shell has established clear leadership in new energy, having laid out its ‘Powering Progress’ commitment to

Dole Launches “The Dole Way” Sustainability Campaign4.3.2021 19:22:00 CETPress release

Dole Food Company announced today the launching of an integrated sustainability campaign aimed at amplifying its commitment to the key enterprise-wide sustainability goals launched in 2020 under “The Dole Way.” As a leader in the produce industry for over 150 years, Dole believes in acting on its promise to increase sustainability, transparency, corporate responsibility and trust. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210304005912/en/ The Dole Way framework paves the way for further improvements in areas where Dole believes it can make the biggest positive impacts (Photo: Business Wire) “The Dole Way” campaign kicked-off with a live, internal event on February 25, led by Dole’s president and chief executive officer, Johan Linden, and will be sustained over the next several months through integrated earned and owned social media efforts. “The Dole Way” campaign illustrates a path of transformation that will recognize

Milliken & Company Appoints Cindy Boiter as Executive Vice President, Chemical Division President4.3.2021 18:00:00 CETPress release

Milliken & Company is pleased to announce Cindy Boiter has been promoted to executive vice president and president of Milliken’s Chemical Division. Effective March 15, she will step into the role currently held by David Moody as he transitions to a role outside of Milliken. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210304005823/en/ Cindy Boiter, newly announced executive vice president and president of Milliken's Chemical Division (Photo: Business Wire) “It is an exciting appointment for our company, as Cindy will become the first-ever woman division president at Milliken,” shares Halsey Cook, president and CEO for Milliken. “She is uniquely qualified to lead our chemical division thanks to her extensive experience in the division, the acquisitions she has completed and her embodiment of Milliken’s purpose.” Boiter joined Milliken’s Chemical Division in 2012 as marketing, strategy and business development director and p

Verimatrix Takes Home Two 2021 Gold Cybersecurity Excellence Awards4.3.2021 17:45:00 CETPress release

Regulatory News: Verimatrix, (Paris:VMX) (Euronext Paris: VMX), the leader in powering the modern connected world with people-centered security, today announced it won two gold awards in this year’s Cybersecurity Excellence Awards program. Verimatrix Multi-DRM won in the Digital Rights Management (North America) category while Verimatrix’s Application Shielding suite of products were recognized in the Automotive Security IoT (North America) category. It marks the third straight year the company has received honors from the award program that pays tribute to a wide variety of cybersecurity companies spanning the world’s largest vendors to the most recent startups. Verimatrix’s code shielding and embedded security capabilities picked up kudos in previous years. “The automotive industry stands as a superb example of a vertical where Verimatrix uniquely addresses multiple cybersecurity needs – in this case, vital components such as keyless entry mobile apps and infotainment systems, said A

Andersen Global Strengthens Presence with Jordanian Tax Firm4.3.2021 15:30:00 CETPress release

Andersen Global enters into a Collaboration Agreement with Amman-based tax firm Al-Tillawi & Al-Khateeb Co., adding dimension to the existing capabilities of the organization’s member firm in Jordan. Founded in 1996, Al-Tillawi & Al-Khateeb Co. provides a wide range of tax and advisory services including corporate and family business, employment, mergers and acquisitions, outsourcing and social security as well as IT solutions. The firm, led by Managing Partner Waleed Al Tillawi, serves a broad clientele in industries such as power and energy, technology and communication, hotel and tourism, finance and retail. “Our team’s dedication to transparency and independence have been the driving forces behind the high-quality client services we provide,” Waleed said. “Collaborating with like-minded individuals at Andersen Global will allow us to take our service offerings to the next level and expand our reach more broadly. We look forward to working with the organization’s member and collabor

Business Finland Awarded Funding for Medicortex4.3.2021 15:08:00 CETPress release

Medicortex Finland Oy, a Finnish biotechnology company focusing on brain injury diagnostics and drug development, announces receiving funding from the Finnish government innovation funding branch Business Finland. The funds are meant to expedite the development of a medical diagnostic test to improve detection of traumatic brain injury (TBI) and concussion. Medicortex has discovered novel biomarkers of head injury in body fluids such as saliva and urine. The funding which covers 50% of the expenses will support a project consisting of the development of a test kit for easy and rapid detection of brain injury and concussion. The objective of the company’s biomarker program is to generate new means for early detection of brain injury, which is a global unresolved issue. Current methods of brain injury diagnostics which are based on neurological examination and imaging do not reliably detect mild injury, yet they can have implications that are fatal or develop into a chronic condition if

Kent County Council Switches to Rimini Street Support for its Oracle Applications and Database Software4.3.2021 15:05:00 CETPress release

Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced that Kent County Council, the largest County Council in England, is switching support for its Oracle E-Business Suite 12.1 application and Oracle Database software to Rimini Street. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210304005642/en/ Kent County Council Switches to Rimini Street Support for its Oracle Applications and Database Software. (Photo: Business Wire) Digital Transformation Possible, Even with Constrained IT Budgets Like other public sector bodies in the UK, Kent County Council is under significant pressure to allocate its annual budget effectively to meet the challenges affecting the county. With 1,759 core users and 21,096 self-service users spread across the organization, as well as sch