Velodyne Lidar and Trunk.Tech announce strategic partnership in autonomous transportation

20 January 2021

Velodyne Lidar, Inc announced a strategic partnership with Beijing Trunk Technology Co., Ltd. (Trunk.Tech). The companies will collaborate on the development of state-of-the-art autonomous heavy trucks and to accelerate the commercialization of driverless trucks in the Chinese logistics market.

Velodyne and Trunk.Tech will cooperate with lidar-enabled products that meet the demanding requirements of high-speed transportation logistics. These solutions will strengthen the awareness of objects and the detection capabilities of heavy unmanned trucks. Furthermore, they are designed to promote rapid and large-scale vehicle production in a cost-effective and efficient manner. Trunk.Tech works closely with commercial vehicle manufacturers to produce driverless trucks and ensure vehicles meet automotive safety standards.

Trunk.Tech is the first company in China to independently develop Society of Automotive Engineers (SAE) Level 4 driverless trucks, based on its powerful driverless hardware and software systems. It uses Velodyne lidar including Ultra Puck ™ , Puck ™ and Velarray H800 sensors as primary sensor hardware on its autonomous trucks. Trunk.Tech chose Velodyne for the quality of the sensors, their performance and their mass production capabilities.

"Autonomous trucks can replace labor deficiencies, save on fuel costs and improve logistics, as well as optimize transportation safety and help reduce truck accident rates," said Dr. Zhang TianLei, CEO of Trunk .Tech. “Velodyne sensors, combined with our multi-sensor fusion algorithms, enable trucks to achieve high-precision, long-range, real-time detection to support autonomous driving in complex road environments. Velodyne has the experience and manufacturing scale to help us transform transportation, and our companies share a strong focus on vehicle safety. "

"Trunk.Tech is leading the industry in demonstrating how autonomous vehicle technology, powered by lidar, delivers remarkable efficiency and advancements in transportation safety," said Anand Gopalan, CEO of Velodyne Lidar. "We look forward to working closely with Trunk.Tech to create next-generation autonomous driving solutions that radically improve the way goods and materials move through logistics networks."

Trunk.Tech: Vast experience in autonomous transport

In recent years, Trunk.Tech has developed Velodyne Lidar sensors on hundreds of driverless trucks that have been delivered to commercial customers. Currently, these vehicles operate autonomously in China's ports throughout the year to support operations.

Since they won their first commercial road test license in China in 2018, Trunk.Tech's driverless trucks have conducted a large number of practical road tests on the roads of China. The company completed the country's first high-speed test for full autonomous driving. In 2019, Trunk.Tech won key national research and development program projects, allowing it to become the first driverless technology company to receive right-of-way support.

Trunk.Tech actively creates a broad smart logistics ecosystem to support autonomous transportation in China. The ecosystem includes Trunk.Tech and the Bosch Group in the driverless truck terminal. It also includes strategic partners China Heavy Automobile, Uberco, Ulse Automotive, and Geely Commercial Vehicles for collaboration to promote mass production.

About Velodyne Lidar

Velodyne Lidar ushered in a new era of autonomous technology with the invention of real-time surround vision lidar sensors. Velodyne is the first publicly traded specialized lidar company and is known around the world for its broad portfolio of innovative 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, aerial vehicles unmanned aerial vehicles (UAV), smart cities and security. Through continuous innovation, Velodyne strives to transform lives and communities by promoting safer mobility for all. For more information .

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the US Private Securities Litigation Reform Act of 1995, including, but not limited to, all statements other than historical facts including, but not limited to, statements about Velodyne's target markets, new products, development efforts, and competition. When used in this press release, the words "estimate", "project", "expect", "anticipate", "anticipate", "plan", "intend", "believe", "seek", "may" , "Will", "may", "should", "future", "propose" and variations of these words or similar expressions (or negative versions of such words or expressions) are intended to identify forward-looking statements. Such 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 material factors, many of which are beyond Velodyne's control, that could lead to the results being Actual results differ materially from the results discussed in the forward-looking statements. Important factors, among others, that may affect actual results or effects include the uncertain impact of the COVID-19 pandemic on Velodyne and its customers' businesses; Velodyne's ability to manage growth; Velodyne's ability to execute its business plan; uncertainties related to the ability of Velodyne's customers to market their products and the eventual acceptance of those products in the market; uncertainties related to Velodyne's estimates of the size of the markets for its products; uncertainties regarding government regulation and the adoption of lidar for pedestrian safety, traffic congestion, and smart city applications; the rate and degree of acceptance of Velodyne products in the market; the success of other similar sensor and lidar related products and services that exist or may become available; Velodyne's ability to identify and integrate acquisitions; uncertainties related to current and potential Velodyne litigation or the validity or enforceability of Velodyne's intellectual property; and general market and economic conditions that affect demand for Velodyne's products and services. Velodyne assumes no responsibility, except as required by law, to update or revise forward-looking statements, whether as a result of new information, future events or in any other respect.

The original text in the source language of this release is the official authorized version. Translations are only provided as an adaptation and must be checked against the text in the source language, which is the only version of the text that will have legal effect.

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