Velodyne Lidar Signs Multi-Year Sales Agreement with Motional to Provide Alpha Prime Sensors for Its Driverless Vehicles

(BUSINESS WIRE)-- Velodyne Lidar, Inc. (Nasdaq: VLDR) today announced a multi-year sales agreement for Alpha Prime™ sensors with Motional, a global driverless technology leader. Velodyne will be the exclusive provider of long-range, surround view lidar sensors for Motional’s SAE Level 4 driverless vehicles.

The Alpha Prime sensor is industry-leading for its combined range, resolution and field of view that collectively address the high-performance requirements of autonomous vehicles. The sensor was developed to improve safety in autonomy and offers high resolution along with robust reflectivity returns, simplifying detection and tracking of vehicles, pedestrians and other road obstructions. The Alpha Prime can help autonomous vehicles safely navigate roadways at various speeds, traveling in a range of road conditions such as rain, sleet and snow.

Motional has been at the forefront of driverless innovation for decades and has introduced self-driving technology to hundreds of thousands of people. It’s creating the world’s highest-performing and safest driverless vehicles and systems that will fundamentally improve mobility around the world.

“By working with Motional, we’re on the cutting edge of making driverless vehicles a safe everyday reality,” said Anand Gopalan, CEO, Velodyne Lidar. “Velodyne and Motional have a shared mission of safety-first and we’re proud that our Alpha Prime sensors will be used by Motional’s vehicles as they safely navigate real roads.”

Velodyne’s Alpha Prime is a next generation lidar sensor that utilizes Velodyne’s patented 360-degree surround view perception technology to support autonomous mobility. A result of over ten years of lidar development and learning, the Alpha Prime supports autonomous operation across a broad range of road settings, including urban and highway environments.

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.

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