SAIC Motor starts mass production of R brand EV line equipped with Luminor

29 March 2021

Luminer Technologies, a world leader in in-vehicle rider hardware and software technology, is the largest car in China. Announcing a strategic alliance with SAIC Motor (SAIC), a manufacturer and Fortune Global 100 company. Luminor will use industry-leading rider and sentinel software system components to enhance autonomous driving and advanced safety features for the mass production of SAIC Motor's new R-brand vehicles. The R brand program is scheduled to start mass production in 2022 with a luminar. The long-term goal of both parties is widespread standardization across all vehicle lines.

As part of close cooperation, Luminer will set up an office in China (next to SAIC Motor in Shanghai), which will also provide local support for this partnership.

The alliance is expected to enable China's first autonomous vehicle, establishing SAIC Motor's position as a technology leader and Luminor's start of production in the region. Luminor's Iris Rider is seamlessly integrated into the roofline of R-branded vehicles with the best perspective and is a symbol of vehicle safety and autonomy. Certain software components of Luminer's sentinel solution (object detection, classification, tracking, etc.) will also be integrated into the R brand to help enable the vehicle's planned highway autonomous driving and preventive safety features. I will.

Austin Russell, CEO of Luminor Founder, said: "SAIC has grown to establish itself as the largest automaker in the world's largest automotive market and does not intend to slow down in terms of electric and autonomous vehicles. Rather, it is new in both China and the industry as a whole. We are at the forefront of setting technical standards. Luminor's hardware and software have the unique power to realize SAIC's vision on a mass production scale. "

SAIC Motor Vice President Yang Xiaodong said: "Our new R-brand vehicle line combines the highest technology with luxury and comfort, and autonomous driving capabilities are at the heart of our vision. Luminor is the only autonomous vehicle company we have seriously considered. Luminor belongs to its own league in the field of rider technology and software and supports the achievement of our mass production vision. "

Luminor technicians work closely with SAIC Motor technicians to integrate hardware and software technologies into the vehicle to fully optimize performance and functionality. In addition, wireless updates will be incorporated to expand the operating area for autonomous driving and gradually improve vehicle safety.

About Luminor Technologies

Luminor is an autonomous vehicle sensor and software company with the vision of making autonomous driving safe and popular by providing the only rider and related software that meets the industry's stringent performance, safety and economic requirements. .. Luminor has rapidly acquired more than 50 industry partners, including 7 of the top 10 automakers in the world. Earlier this year, Luminer signed an industry-first production contract for consumer autonomous vehicles with Volvo Cars, while recently signing contracts with SAIC Motor, Daimler Trucks and Intel's Mobileye. .. Luminor also received a small investment from Daimler Trucks, the world's largest commercial vehicle manufacturer, and Volvo Cars, the world leader in automotive safety, to accelerate the adoption of high-speed autonomous trucks and vehicles. Founded in 2012, Luminor is a team of nearly 400 people with offices in Palo Alto, Orlando, Colorado Springs, Detroit and Munich. For more information , please visit www.luminartech.com .

About SAIC Motor

SAIC Motor's services and products are currently available in more than 60 countries and territories, and have established approximately 810 overseas sales service offices and pioneered nine large overseas markets. Over the next five years, SAIC Motor aims to become the world's fifth-largest automobile manufacturer, two above its current ranking, and to build an internationally competitive and influential automobile group worth 1 trillion yuan.

Forward-looking statement

Certain non-historical statements contained in this press release are forward-looking statements for the purposes of the Safe Harbor Articles under the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally include "think," "may," "plan," "estimate," "continue," "expect," "intend," "anticipate," and "expect." Words such as "should", "will", "plan", "predict", "potential", "like", "aim", "future", "outlook", and the future Accompanied by similar expressions that predict or indicate an event or trend in, or are not a description of historical matters. These forward-looking statements include a partnership between Luminor and SAIC Motor under the terms of the Memorandum of Understanding (MOU), provision of rider hardware and autonomous driving software for mass-produced vehicles, and Luminor's business plans in China. Contains, but is not limited to, statements about the realization of. These statements, whether specified in this press release or not, are based on various assumptions and the current expectations of Luminer's management and are not forecasts of actual performance. Forward-looking statements carry some risks and uncertainties that can lead to actual results that differ materially from forward-looking statements. This includes Luminer and SAIC Motor's ability to conclude the formal document of this alliance and the provisions of such formal document, the inability to realize the expected benefits of the MOU or formal contract, Luminer's ability to expand its business in China, Luminor. Limited history, the inability to reduce and control the input costs that Luminer relies on, Luminor's ability to move to an outsourcing manufacturing business model, and Luminor's customer success in developing and commercializing products using Luminor's solutions. Luminor's ability to protect its intellectual property rights, whether Luminor's rider products are selected by automotive OEMs or their suppliers for autonomous driving or incorporation into ADAS systems, personnel changes and qualifications Undetected defects that can lead to reduced market adoption of new products, poor reputation, Luminor product liability and other claims due to the availability of personnel, future sales volume and timing, and the complexity of Luminor products. And Luminor's ability to comply with strict government regulations that may be amended, abolished or reinterpreted and amendments or new laws and regulations applicable to its business, whether or not reliability issues arise, autonomous vehicles Impact of general economic uncertainties and general economic conditions, especially on Luminor's industry, such as industry demand and performance levels and rider market adoption, ongoing coronavirus (COVID-19) pandemic or The Impact of Other Infectious Diseases, Health Epidemics, Pandemics, Natural Disasters on Luminor's Business, and the "Risk Factors" section of the Form S-1 / A Registration Notification submitted by Luminor on January 29, 2021. It also includes, but is not limited to, other risks described in other documents that Luminer will file with the SEC in the future. If any of these risks become apparent or our assumptions are found to be incorrect, the actual results may differ materially from those suggested by these forward-looking statements. Please be careful not to overly trust the forward-looking statements that describe only what happened at the time of the announcement. Luminor undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release. Impact of general economic conditions, ongoing coronavirus (COVID-19) pandemic or other infectious disease, health epidemic, pandemic, impact of natural disasters on Luminor's business, and Luminor on January 29, 2021 Includes, but is not limited to, the “Risk Factors” section of the registration statement submitted on Form S-1 / A, as well as other risks described in other documents Luminer will submit to the SEC in the future. Hmm. If any of these risks become apparent or our assumptions are found to be incorrect, the actual results may differ materially from those suggested by these forward-looking statements. Please be careful not to overly trust the forward-looking statements that describe only what happened at the time of the announcement. Luminor undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release. Impact of general economic conditions, ongoing coronavirus (COVID-19) pandemic or other infectious disease, health epidemic, pandemic, impact of natural disasters on Luminor's business, and Luminor on January 29, 2021 Includes, but is not limited to, the “Risk Factors” section of the registration statement submitted on Form S-1 / A, as well as other risks described in other documents Luminer will submit to the SEC in the future. Hmm. If any of these risks become apparent or our assumptions are found to be incorrect, the actual results may differ materially from those suggested by these forward-looking statements. Please be careful not to overly trust the forward-looking statements that describe only what happened at the time of the announcement. Luminor undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

The official version of this press release is the original language version. The translated language version is provided for the convenience of the reader and has no legal effect. When using the translated language version as a material, please compare it with the original language version, which is the only version that has legal effect.

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Nicole Phelan
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Source: businesswire.com