Curated News
By: NewsRamp Editorial Staff
May 14, 2024
Cepton, Inc. Secures Engineering Services Agreement with Automotive Giant KOITO MANUFACTURING
TLDR
- Cepton, Inc. secures $10 million engineering services agreement with automotive giant KOITO MANUFACTURING, gaining a competitive edge in autonomous driving technology.
- This agreement will focus on advancing Cepton's near-range lidar technology for Level 4 autonomous driving capabilities, leveraging KOITO's expertise and resources.
- This partnership accelerates product development for cutting-edge solutions in autonomous driving, meeting the evolving needs of OEM customers worldwide.
- KOITO MANUFACTURING, a global leader in automotive lighting with a legacy dating back to 1915, extends $10 million in engineering services to Cepton.
Impact - Why it Matters
The collaboration between Cepton, Inc. and KOITO MANUFACTURING to advance near-range lidar technology for autonomous driving capabilities has the potential to significantly impact the future of automotive safety and innovation. This partnership underscores the increasing importance of cutting-edge solutions in the autonomous driving space, and the evolving needs of OEM customers worldwide.
Summary
Cepton, Inc. Chief Commercial Officer Mitch Hourtienne has announced a significant milestone as the company finalized an Engineering Services Agreement with KOITO MANUFACTURING, a renowned automotive Tier 1 partner and existing shareholder. Under the agreement, KOITO will extend $10 million in engineering services to Cepton to bolster the product development and execution of a major global OEM program, focusing on advancing Cepton's near-range lidar technology for autonomous driving capabilities. This partnership underscores Cepton's commitment to delivering cutting-edge solutions in the autonomous driving space, leveraging KOITO's expertise and resources to meet the evolving needs of OEM customers worldwide.
Source Statement
This curated news summary relied on content disributed by News Direct. Read the original source here, Cepton, Inc. Secures Engineering Services Agreement with Automotive Giant KOITO MANUFACTURING
