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AEye Reported Continental to Discontinue the Joint Lidar Development Program

Published 2023-12-18, 04:30 p/m

CONG
0.04%
AEYE
5.57%

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.

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