LeddarTech Secures First Automotive OEM Agreement for Their Advanced Driver-Assistance Systems (ADAS) Solution Named LeddarVision
LeddarTech Holdings Inc., an automotive software company based in Quebec City, Montreal, and Tel Aviv, Israel, has announced a significant design win with Mercedes-Benz. The German automaker has selected LeddarTech's LeddarVision for their advanced driver assistance system (ADAS) program for the 2028 model year vehicles.
Founded in 2007, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions. Their solutions enable the deployment of ADAS, autonomous driving, and parking applications. The company's automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment.
LeddarVision, LeddarTech's patented AI-based low-level sensor fusion and perception software technology, stood out for its superior performance and efficiency in a multi-modal sensor system with both cameras and radars. The selection was made after a comprehensive evaluation of the leading solutions available in the market today.
The arrangement is subject to the parties entering into definitive agreements. Per-vehicle royalty revenue from this design win is anticipated in late 2027. However, the company's financial projections, including revenue from the OEM, are contingent upon the successful completion of definitive agreements.
LeddarTech's stock is traded on Nasdaq under the ticker symbol LDTC. For more information about the company, visit their website or follow them on LinkedIn, Twitter, Facebook, and YouTube.
The company aims to become the most widely adopted sensor fusion and perception software solution in the industry. However, it's important to note that LeddarTech's performance is subject to general economic and industry-specific conditions, as well as potential disruptions from future catastrophic events.
This design win marks a significant milestone for LeddarTech, as they continue to push the boundaries of remote-sensing innovation. With over 170 patent applications (87 granted), LeddarTech is responsible for several remote-sensing innovations in the industry.
The implementation of LeddarVision is expected to enhance driver safety and enable greater autonomy in Mercedes-Benz vehicles. This partnership underscores LeddarTech's commitment to delivering cutting-edge technology to the automotive industry.
The company's revenue from this design win is expected to begin in 2025 for engineering services. Despite potential risks and uncertainties, including potential delays or changes in definitive agreements with the OEM, LeddarTech remains optimistic about this partnership and its potential to drive growth in the future.
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