Velodyne Lidar Announces Multi-Year Sales Agreement With Local Motors

(BUSINESS WIRE)-- Velodyne Lidar, Inc. (Nasdaq: VLDR) today announced a multi-year sales agreement with Local Motors, a leading digital vehicle manufacturer that develops sustainable mobility solutions to empower communities around the world. Local Motors uses Velodyne’s lidar sensors to enable safe, reliable operation of Olli, the company’s 3D-printed, electric, self-driving shuttle.

Local Motors includes multiple Velodyne Puck™ sensors in Olli, which provides mobility services across neighborhoods, campuses and urban city centers. The sales agreement also positions Local Motors to incorporate additional Velodyne sensors, including the Velarray H800, into Olli designs so the company can continue to optimize the perception system of the autonomous vehicle.

The 360-degree surround view Puck sensor can eliminate blind spots as Olli navigates in varied driving conditions. The sensor’s proven durability on roadways and range of sensing to support safer navigation were also important decision drivers for Local Motors.

The Puck’s sleek, compact form factor made it easy for Local Motors to aesthetically integrate the sensor into the elegantly designed Olli, including behind the vehicle’s AGC Wideye™ automotive-grade glass. A highly automated, mass production manufacturing operation enables Velodyne to deliver cost-effective Puck sensors to the Local Motors microfactory.

Olli is deployed at universities, business parks and local communities throughout the United States and in Asia, Europe and the Middle East. Olli acts as a connector in multimodal transportation networks that complements existing mobility ecosystems by providing a first-mile, last-mile solution which addresses transportation gaps and inefficiencies.

Deployments of Olli 2.0, Local Motors’ latest iteration, include the Jacksonville (Fla.) Transportation Authority’s Test & Learn Program. The deployment of the Olli 2.0 at JTA was the first in the United States and made possible through a recent partnership with Beep, a Florida-based mobility-as-a-service provider. Local Motors and Beep have plans to deploy hundreds of autonomous vehicles in the coming years.

“We selected Velodyne’s sensors after a rigorous evaluation process where they clearly stood out as the right strategic partner to address our long-term lidar needs,” said Vikrant Aggarwal, President, Local Motors. “Velodyne’s technology leadership gives us confidence we will always have the latest lidar technology to help ensure safety in our vehicles. We look forward to co-evolving our product offerings to address more use cases in the autonomous mobility space.”

“With Olli, Local Motors is empowering communities to redefine local transportation and create opportunities for people with mobility challenges,” said Laura Wrisley, Vice President of North American Sales, Velodyne Lidar. “Our sensors provide the much-needed data for Olli’s critical safety features. Local Motors is a valued customer that is open and easy to collaborate with in addressing their lidar needs. The insights from Local Motors on our product development and prototypes have been very helpful in shaping our sensor portfolio to enable safer autonomous driving.”

Velodyne Puck sensors provide rich computer perception data that make it quick and easy for autonomous solutions to build highly accurate 3D maps for navigation. The Puck delivers a high-resolution surround view image which can accurately measure and analyze an environment. The Puck’s reliability, power-efficiency and versatility make it an ideal solution for demanding mobility and other applications.

About Velodyne Lidar

Velodyne Lidar (NASDAQ: VLDR) 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 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 uncertain impact of the COVID-19 pandemic on Velodyne's and its customers' businesses; uncertainties related to Velodyne's estimates of the size of the markets for its 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; 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201119005268/en/