MicroVision's Germany Test Vehicle to Showcase Product to OEMs; Second Highway-Speed Track Testing Completed
Introducing the German Market to a New Era of Sensors Developed To Enable High-Speed, Highway Safety Features in an OEM-Friendly Design
MUNICH, GERMANY / ACCESSWIRE / June 30, 2022 / MicroVision, Inc. (NASDAQ:MVIS), a leader in MEMS-based solid-state automotive lidar and ADAS solutions, announced the completion of its Germany test vehicle. Retrofitted in Germany, the test car is prepared to showcase the Company's MAVIN™ line of sensors, including its new dynamic view lidar system, MAVIN DR. MAVIN is a system that will enable new ADAS safety features addressing the need to see farther, with greater clarity, and respond faster to emerging situations. MicroVision's Germany test vehicle is scheduled to demonstrate the system's capabilities in private meetings with multiple OEMs over the next several weeks.
The Company also announced the successful completion of its second highway test track session focused on high speed, highway testing of its sensor fusion features and MAVIN DR. The Company expects to share select data from this testing in the near future.
MAVIN DR is the fourth lidar hardware variant from MicroVision and the first to offer a dynamic range, combining short-, medium-, and long-range sensing and fields of view into one form factor. The new sensor produces an ultra-high-resolution point cloud showing drivable and non-drivable areas of the road ahead. With its low latency point cloud (30 Hz), the MAVIN product line allows ADAS systems to respond more quickly and take action at high speeds.
"It's an important milestone for MicroVision to put our solution on the test vehicle in Germany so that we showcase our technology firsthand to those OEMs," said Sumit Sharma, CEO of MicroVision. "As we close out this week's second highway track testing session, we can report that we're very pleased with the outcomes and we look forward to sharing select data in the coming weeks."
In addition to the dynamic view system, the MicroVision MAVIN DR has a new hardware form factor that complements OEM design. The newly refined form factor enables even more flexible deployment options for OEMs. Built with materials known to OEM supply chains, MicroVision hardware is scalable, sourceable, and supports a lower cost structure.
For more information about the MicroVision MAVIN lidar system, please visit www.microvision.com.
MicroVision is a pioneering company in MEMS-based laser beam scanning technology that integrates MEMS, lasers, optics, hardware, algorithms, and machine learning software into its proprietary technology to address existing and emerging markets. The Company's integrated approach uses its proprietary technology today to develop automotive lidar sensors and provide solutions for advanced driver assistance systems (ADAS), leveraging its experience building augmented reality micro-display engines, interactive display modules, and consumer lidar modules.
For more information, visit the Company's website at www.microvision.com, on Facebook at www.facebook.com/microvisioninc, follow MicroVision on Twitter at @MicroVision, and LinkedIn at https://www.linkedin.com/company/microvision/.
MicroVision is a trademark of MicroVision, Inc. in the United States and other countries.
Certain statements contained in this release, including the Company's plans regarding product demonstration and product capabilities are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include the risk its ability to operate with limited cash or to raise additional capital when needed; market acceptance of its technologies and products or for products incorporating its technologies; the failure of its commercial partners to perform as expected under its agreements, including from the impact of COVID-19 (coronavirus); its financial and technical resources relative to those of its competitors; its ability to keep up with rapid technological change; government regulation of its technologies; its ability to enforce its intellectual property rights and protect its proprietary technologies; the ability to obtain customers and develop partnership opportunities; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; dependence on third parties to develop, manufacture, sell and market its products; potential product liability claims; its ability to maintain its listing on The Nasdaq Stock Market, and other risk factors identified from time to time in the Company's SEC reports, including the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other reports filed with the SEC. These factors are not intended to represent a complete list of the general or specific factors that may affect the Company. It should be recognized that other factors, including general economic factors and business strategies, may be significant, now or in the future, and the factors set forth in this release may affect the Company to a greater extent than indicated. Except as expressly required by federal securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changes in circumstances or any other reason.
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SOURCE: MicroVision, Inc.
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Released June 30, 2022