SAN JOSE, Calif. (April 29, 2021) – Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced it has been selected by Faraday Future (FF) as the exclusive supplier of lidar for Faraday’s flagship FF 91 all-electric vehicle (EV). Velodyne’s solid state Velarray H800 lidar sensors will power the FF 91’s autonomous driving system that aims to deliver a comprehensive suite of highway, urban and parking autonomy features.
The ultimate-intelligent, tech-luxury FF 91 will deliver a unique electric mobility experience which combines extreme technology, ultimate user-experience and a holistic ecosystem. FF 91 is planned to be launched within 12 months of the closing of the recently announced merger with Property Solutions Acquisition Corp. (PSAC) (NASDAQ: PSAC), a special purpose acquisition company (SPAC).
“Velodyne is a well-known industry leader in performance, reliability and price in lidar solutions,” said Carsten Breitfeld, CEO, Faraday Future. “We are embracing the latest technologies – including Velodyne’s Velarray H800 – to develop driver assistance features that help us deliver new levels of safety, driver comfort and convenience. The sensor supports safe navigation and collision avoidance, incorporated in the current vehicle architecture in a way that allows the FF 91 to maintain its future-forward design.”
“Velodyne and Faraday Future are both committed to redefining the mobility experience through greater vehicle autonomy and safety,” said Anand Gopalan, CEO, Velodyne Lidar. “Velodyne and Faraday Future tech teams have maintained great synergy for many years. Our close relationship led Velodyne to become a direct supplier to Faraday Future and help them bring their next-generation mobility vision to reality on roadways worldwide.”
Velarray H800 is a solid state lidar sensor architected for automotive grade performance and built using Velodyne’s breakthrough proprietary micro-lidar array architecture (MLA). The sensor’s compact, embeddable form factor allows for the sensor to be seamlessly situated behind the vehicle’s windshield for streamlined, flawless integration. With combined long-range perception and a broad field of view, the Velarray H800 is designed for safe navigation and collision avoidance in ADAS and autonomous mobility applications.
Established in May 2014, Faraday Future (FF) is a global shared intelligent mobility ecosystem company, headquartered in Los Angeles, California. FF’s vision is to create a shared intelligent mobility ecosystem that empowers everyone to move, connect, breathe, and live freely. FF aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet and new usership models. With the FF 91, FF has envisioned a vehicle that redefines transportation, mobility, and connectivity, creating a true “third Internet living space,” complementing users’ home and smartphone Internet experience.
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This press release contains “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 including, without limitation, all statements other than historical fact and include, without limitation, statements regarding Velodyne’s target markets, new products, development efforts, competition. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “can,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These 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 important factors, many of which are outside Velodyne’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the uncertain impact of the COVID-19 pandemic on Velodyne’s 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 commercialize their products and the ultimate market acceptance of these products; uncertainties regarding government regulation and adoption of lidar; the rate and degree of market acceptance of Velodyne’s products; the success of other competing lidar and sensor-related products and services that exist or may become available; uncertainties related to Velodyne’s current litigation and potential litigation involving Velodyne or the validity or enforceability of Velodyne’s intellectual property; and general economic and market conditions impacting demand for Velodyne’s products and services. Velodyne undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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