REDMOND, WA - MicroVision, Inc. (NASDAQ:MVIS), known for its MEMS-based automotive lidar and ADAS technologies, has announced an increase in production capacity for its MOVIA L sensor. This strategic move aims to meet the growing demand from the industrial sector, as stated in a press release issued today.
The company, leveraging its partnership with a Tier 1 automotive manufacturer, anticipates that the production of MOVIA L sensors for the year 2025 will see a significant rise compared to this year's figures. This expansion in production is expected to lead to a decrease in the average cost per sensor while ensuring the maintenance of high-quality standards for industrial use.
Sumit Sharma, MicroVision's CEO, remarked on the importance of this advancement, "Securing this production capacity is critical to support high-volume orders from industrial customers, so we feel good closing out the year with this commitment in hand." He also expressed satisfaction with the cost benefits of scaling up production and praised the company's partnership with ZF, a Tier 1 automotive supplier, for their role in delivering these high-quality sensors to the industrial market.
MicroVision, with offices in the U.S. and Germany, specializes in integrating MEMS, lasers, optics, hardware, algorithms, and machine learning software into its proprietary technology. This technology is used not only in automotive lidar sensors and solutions for advanced driver-assistance systems (ADAS) but also in non-automotive applications such as industrial, smart infrastructure, and robotics. The company has also been involved in developing augmented reality micro-display engines, interactive display modules, and consumer lidar modules.
The press release also includes forward-looking statements regarding product and manufacturing capabilities, customer engagement, and potential market opportunities. However, it notes that such statements involve risks and uncertainties that could cause actual results to differ materially from the projections.
This increase in production capacity reflects MicroVision's response to anticipated market needs and represents a strategic step towards strengthening its position in the industrial sector. The information is based on a press release statement from MicroVision, Inc.
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