Following the December 4, 2023 announcement by Continental AG (ETR:CONG) (“Continental”) related to its corporatewide restructuring and expense reduction efforts, representatives of Continental informed AEye (LIDR) that Continental intends to discontinue the parties’ joint lidar development program, including any further development of the HRL131 lidar product line. Continental and the Company are currently engaged in negotiations regarding a transition of the joint lidar program.
Having made significant progress in product performance, maturity, and cost reduction over the last six months, the Company intends to address the automotive market interest it continues to see by furthering its ongoing discussions with other Tier 1 automotive suppliers. The Company continues to focus on commercialization of its next generation 4Sight™ Flex product, which is believed to be the only 1550 nanometer high-performance lidar capable of in-cabin integration.
Should you invest $2,000 in CONG right now?
Before you buy stock in CONG, consider this: ProPicks AI are 6 easy-to-follow model portfolios created by Investing.com for building wealth by identifying winning stocks and letting them run. Over 150,000 paying members trust ProPicks to find new stocks to buy – driven by AI. The ProPicks AI algorithm has just identified the best stocks for investors to buy now. The stocks that made the cut could produce enormous returns in the coming years. Is CONG one of them?
Reveal Undervalued Stocks Now