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Cepton, Inc. (NASDAQ: CPTN) Poised to Increase Visibility in Autonomous Driving as Lidar Technology Strives to Dominate the Space
April 7, 2022

Cepton, Inc. (NASDAQ: CPTN) Poised to Increase Visibility in Autonomous Driving as Lidar Technology Strives to Dominate the Space

  • Cepton continues to be at forefront of state-of-the-art engineering science; sponsors The AutoDrive Challenge(TM) II and serves as an exclusive LiDAR supplier
  • During this competition, faculty members and students from ten North American universities will spend four years developing autonomous vehicles that require no human interaction in their operations
  • Participating teams will work with directional lidars for the first time as academic community recognizes Cepton lidars for their exceptional combination of performance, reliability, and embeddability

As a leading innovator in the LiDAR space, Cepton (NASDAQ: CPTN) has always been committed to becoming the bridge between cutting-edge science and the automotive industry. Autonomous driving and its great enabler – LiDAR technology – are ready to take over mobility space, as the innovative technology makes strides in terms of decreasing costs and improving commercialization potential. Cepton appears determined to be a visible part of that landscape, as it becomes a sponsor and an exclusive LiDAR provider for ten universities in North America gathered in a four-year STEM education program called The AutoDrive Challenge(TM) II (https://ibn.fm/283iq).

A result of the partnership between GM and SAE, The AutoDrive Challenge(TM) is designed to advance STEM education and contribute to the ground-breaking work within the autonomous driving space. Participating academic institutions include Kettering University, Michigan Technological University, North Carolina A&T State University, Pennsylvania State University-University Park, Queen’s University, Texas A&M University, The Ohio State University, University of Toronto, University of Wisconsin-Madison, and Virginia Polytechnic Institute and State University. 

During the program, faculty members and students will develop autonomous vehicles that can navigate urban driving courses following SAE’s Level 4 of driving automation, which means that vehicles do not require human interaction in their operations. The vehicles will be tested in Mcity, the world’s first purpose-built ground for testing the performance and safety of automated vehicles, which is used by many leading automotive OEMs trial smart mobility projects.

To achieve a high level of security, participating teams will need to equip their vehicles with advanced perception capabilities, for which LiDAR technology is expected to play a critical role. This is where Cepton steps in. The Company will provide high-performance LiDAR solutions to the teams to enable their integrated systems. 

The AutoDrive Challenge(TM) II proves that LiDAR is becoming increasingly present in the autonomous driving space. “We felt this program offered us a fantastic opportunity to help advance the LiDAR education in both the automotive industry and academia,” said Dr. Jun Pei, CEO of Cepton. “LiDAR is going mainstream with it being deployed in advanced driver assistance systems (‘ADAS’) in everyday consumer vehicles to be available in the next few years. This sensor technology is not only capable of improving vehicle safety but also critical in enabling higher levels of autonomy. We are dedicated to helping proliferate the benefits of LiDAR technology by focusing on increasing its mass-market scalability with our proprietary Micro Motion Technology (MMT(R)), which is designed to enable an optimal balance between performance, reliability, and affordability. While we look forward to working with all the participants to help enhance their AV projects with LiDAR perception, we are also excited to learn from the experience working with such an intellectual community,” he concluded.

The future for self-driving vehicles and their enabling technologies such as LiDAR systems seem bright. With improved safety levels of autonomous vehicles, the number of human drivers is expected to decrease gradually. Some projections go as far as to predict that human driving is on its way to soon becoming the thing of the past. IDTechEx, a market research firm focused on emerging technologies, believes that the safety level of autonomous vehicles will reach or even surpass that of human drivers in 2024, leading to a potential ban of human drivers on public roads by 2050 (https://ibn.fm/QH8Dn). Although this may be a bold prediction, the world appears to be on the brink of a new era in autonomous driving – and LiDAR technology has an opportunity to become a big part of that disruption. This innovative technology has been catching up to optical cameras – its main competing technology – and will take over if the advancements in optical cameras fail to measure up. 

For more information, visit the company’s website at www.Cepton.com

NOTE TO INVESTORS: The latest news and updates relating to CPTN are available in the company’s newsroom at https://ibn.fm/CPTN

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