Cepton宣布与Koito签订重大工程合同

An important development contract will kick-start the implementation of a new OEM project

SAN JOSE, Calif.--(BUSINESS WIRE)--Cepton, Inc. ("Cepton" or the "Company") (Nasdaq: CPTN) is an innovator and leader in high-performance lidar solutions for automotive and smart infrastructure applications in Silicon Valley. The Company today announced that it has entered into a major engineering design agreement (the "Agreement") on May 9, 2024 with its long-term automotive Tier 1 partner and current shareholder, KOITO MANUFACTURING CO., LTD. ("Koito") (TSE: 7276).

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Under the terms of the agreement, Koito will provide Cepton with a total of $10 million in engineering services fees for the quarter ending June 30, 2024, to support a significant global OEM project recently secured by Cepton and Koito.

The agreement will drive Cepton's product development and project execution efforts for specific customers of its short-range lidar. The product is planned to be deployed in the above OEM projects, as well as several other OEM customers, to enable Level 4 autonomous driving capabilities for on-highway and off-highway use cases.

Dr. Jun Pei, CEO and Co-Founder of Cepton, said: "The partnership with Koito comes at a critical time for Cepton as it prepares to implement a new OEM program. "We are excited to deepen our collaboration with Koito to drive the adoption of scalable lidar in safety-critical automotive use cases." This reflects Cepton and Koito's shared vision to pave the way for the safe deployment of autonomous driving. ”

"This agreement not only reaffirms Koito's confidence in Cepton's innovative LiDAR solutions, but also underscores Koito's strong commitment to the industrialization of cutting-edge technologies that have the potential to reshape the future of mobility, in line with our vision of 'lighting the path to a sustainable future'," said Mr. Michiaki Kato, President of Koito. ”

For future announcements from Cepton, please visit www.cepton.com/learn/announcements.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "estimates," "objectives," "plans," "anticipates," "predicts," "intends," "will," "expects," "anticipates," "believes," "seeks," "targets," "milestones," "aims to," "proposes," or other similar expressions that predict or imply future events, trends, terms and/or conditions or statements that are not statements of historical events. Cepton cautions readers of this press release that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many beyond Cepton's control, that could cause actual results to differ materially from those anticipated. These forward-looking statements include, but are not limited to, statements relating to the terms of Cepton's final arrangement with Koito and the differences between Koito's contracts with global OEMs and Cepton's expectations, including differences in volume and timing, or that the arrangement may be terminated or may not become a long-term contractual partnership arrangement, Cepton's expectations for its ability to meet applicable milestones and its timing, The amount of engineering service fees that will be incurred for workflows related to global OEM projects, and Cepton's expectation that Koito will not cancel these workflows until all applicable milestones are achieved. These forward-looking statements should not be relied upon as representing Cepton's assessment as of any date following the date of this press release. Accordingly, readers should not place undue reliance on these forward-looking statements. Cepton undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of the statements or to reflect the occurrence of unanticipated events.

About Cepton:

Cepton is a Silicon Valley innovator that provides lidar-based solutions for automotive (advanced driver assistance systems/assisted driving), smart cities, smart spaces, and smart industrial applications. With its patented LiDAR technology, Cepton aims to bring LiDAR into the mainstream, balancing performance, cost, and reliability while providing scalable and intelligent 3D perception solutions across industries.

Founded in 2016, Cepton is led by industry veterans with decades of collective experience in advanced lidar and imaging technologies. The Company is focused on mass-market commercialization of high-performance, high-quality lidar solutions. Headquartered in San Jose, California, USA, Cepton has a Center of Excellence facility in Troy, Michigan, providing local support to automotive customers in the greater Detroit area. Cepton also has an office in Germany to serve customers in Europe. For more information, visit www.cepton.com and follow Cepton on Twitter and LinkedIn.

About Koito:

With the corporate slogan of "Lighting for Your Safety", KOITO MANUFACTURING CO., LTD. (Koito) has been a leader in the field of automotive lighting since its establishment in 1915. Currently, Koito Group consists of 30 companies in 13 countries around the world, providing products and services to customers around the world through a global network led by five major regions (Japan, Americas, Europe, China, and Asia). Its products are recognized for their high quality and advanced technology and are widely used by automobile manufacturers around the world. The company is responding to the future mobility transformation by developing next-generation lighting technologies and related equipment, control systems, and environmentally friendly products, materials, and production methods. For more information, please visit www.koito.co.jp/english.

Disclaimer: The original version of this announcement is the officially authorized version. Translations are provided for convenience only, please refer to the original version, which is the only legally binding version.

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CONTACT:

Cepton, Inc.

Investors: [email protected]

媒体：Faithy Li, [email protected]

Koito Manufacturing Co., Ltd.

Public Relations Department, [email protected]