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Punching Out: Breaking Down Legal Preparations for M&AAEye Announces Partnership with Leading Automotive Electronics and Vision Solutions Provider, LITEON
May 13, 2024 | BUSINESS WIREEstimated reading time: 1 minute
AEye, Inc., a global leader in adaptive, high-performance lidar solutions, today announced that the non-binding Letter of Intent (“LOI”) announced in March is with LITEON Technology Corporation and is intended to provide AEye with a customer channel and industrialization partnership. Both companies will work together to supply AEye’s 4Sight™-based lidar products to automotive original equipment manufacturers (OEMs) who are focused on safety through automotive Advanced Driver Assistance Systems (“ADAS”). This is a logical collaboration as AEye continues to focus on its unique capital light business model, which leverages automotive Tier 1 partnerships to deliver AEye’s lidar solutions to OEMs through world-class pipelines.
Matt Fisch, AEye CEO, said, “We believe that LITEON is an ideal partner for us. Their innovative spirit, vast experience in providing solutions to the automotive ADAS market, combined with their cutting-edge industrialization capability will enable us to provide the industry’s leading long-range lidar solutions at a very competitive cost to our customers. We are already collaborating on the OEM RFI/RFQ pipeline and I’m enthusiastic about our combined ability to capture a significant portion of the market.”
LITEON is a leading, global provider of electronic solutions for automotive OEMs around the world. With over four decades of expertise in the automotive electronics industry, LITEON harnesses its core competencies in optoelectronics and power management to pioneer the future of automotive electronics. Leveraging their various manufacturing facilities, LITEON supplies services from design to manufacturing to most of the top Tier 1s and OEMs in Europe and North America.
The companies are excited about this new chapter and look forward to partnering to bring AEye’s 4Sight solution to the automotive market. This partnership is poised to pioneer the industry, leveraging their unique expertise to propel the future of autonomous driving.
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