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LeddarTech licenses sensor tech to Renesas for ADAS use

EditorRachael Rajan
Published 03/20/2024, 08:00 PM
© Reuters.
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QUEBEC CITY - LeddarTech Holdings Inc. (NASDAQ:LDTC), a company specializing in advanced driver assistance systems (ADAS) and autonomous driving (AD) technologies, has entered into a long-term licensing agreement with Renesas Electronics America Inc.

This deal focuses on the commercialization of LeddarTech's LCA2 and LCA3 programmable system-on-chip (SoC) product families, which are integral to the company's LiDAR-based ADAS and AD offerings.

The partnership between LeddarTech and Renesas, a collaboration that dates back to when Renesas operated as IDT, aims to leverage each company's strengths to enhance LiDAR market offerings. Renesas will utilize its extensive global sales force and customer network to promote the SoC products, while LeddarTech, transitioning into a pure-play automotive software company, will continue to maximize the value of its foundational solid-state LiDAR technology assets.

Frantz Saintellemy, President and CEO of LeddarTech, expressed satisfaction with the agreement, highlighting the mutual benefits and the potential to capitalize on joint investments in product development. "This agreement will benefit both organizations and the LiDAR market," said Mr. Saintellemy.

LeddarTech, founded in 2007 and headquartered in Quebec City, has made significant strides in the automotive industry with its LeddarVision AI-based low-level fusion and perception software. The company's technology, which applies advanced AI and computer vision algorithms, is designed to create accurate 3D models of the environment for safer navigation and decision-making in vehicles.

The information in this article is based on a press release statement.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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