Cepton (NASDAQ: CPTN) is a developer of lidar sensors for advanced driver assistance systems (“ADAS”) and autonomous driving. “The Silicon Valley-based company made D-sample shipments in Q1 in support of GM’s Ultra Cruise program, which is the final stage before scale production, and is on track to potentially be the world’s first lidar company to have its products found in consumer vehicles,” a recent article reads. “High cost has been one major problem with lidar systems for automakers, reserving it to only high-end models. Cepton has helped address this issue with its MMT(R) (micro-motion technology) lidar system, which was developed with mass-market consumer vehicles in mind and has attracted the attention of top automotive OEMs (original equipment manufacturers) and Koito Manufacturing, a leading tier-1 automotive lighting supplier that has invested $100 million in Cepton… GM has agreed to use Cepton lidar products for its first 9 models that will offer Ultra Cruise in 2023 and 2024, and the companies are collaborating on potential additional models that will be introduced in 2025 and beyond. Cepton is currently engaged with all top 10 automotive OEMs worldwide.”
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About Cepton Inc.
Cepton is a Silicon Valley innovator of lidar-based solutions for automotive (“ADAS/AV”), smart cities, smart spaces and smart industrial applications. With its patented Micro Motion Technology (“MMT(R)”), Cepton aims to take lidar mainstream and achieve its vision of safe and autonomous transportation for everyone. Cepton has been awarded the largest known ADAS lidar series production award in the industry to date, based on the number of vehicle models awarded, to support General Motors’ Ultra Cruise program. Cepton is also engaged with all other Top 10 global OEMs. Founded in 2016 and led by industry veterans with decades of collective experience across a wide range of advanced lidar and imaging technologies, Cepton is focused on the mass market commercialization of high performance, high quality lidar solutions. Cepton is headquartered in San Jose, California, and has a center of excellence facility in Troy, Michigan, to provide local support to automotive customers in the Metro Detroit area. Cepton also has a presence in Germany, Canada, Japan, India and China to serve a fast-growing global customer base. 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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