Opsys Tech to supply LiDAR sensors to auto supplier Huayu Automotive Systems Co., Ltd. (HASCO) ADAS Business Unit

HOLON, Israel, Feb. 9, 2022 /PRNewswire/ -- Opsys Tech, a developer of Pure Solid State Scanning Micro-Flash LiDAR, today announced a deal to supply LiDAR systems to world leading auto parts supplier HASCO for inclusion in production vehicles as early as 2024 or 2025. HASCO is a global supplier to several major automakers.

The HASCO deal builds on another recent Opsys Tech announcement to supply LiDAR units to another Asia-based supplier for production vehicles within the next two to three years. These deals support Opsys Tech's confidence that it is on track to be a major supplier in the automotive LiDAR market.

"This agreement with a world leading Tier 1 automotive supplier HASCO, enables Opsys to enter the Asian automotive LiDAR systems market segment. It represents a strong and growing recognition that Opsys-Tech Pure Solid State Scanning Micro-Flash LiDAR technology and its superior performance to that of competitive systems, which will increase the safety of vehicles on the road while enabling the evolution of autonomous functionality at all levels up to L5" said Opsys Tech Chairman Eitan Gertel.

"HASCO has worked in the ADAS field for more than 10 years and has launched lots of products to the market such as millimeter radar (includes forward looking, surround, 4D imaging radar, In-Cabin Child presence detection radar, power door radar), smart camera, fusion system, domain controller etc.   With the several years cooperation with OPSYS Tech, HASCO has decided to go with the pure Solid State Scanning LiDAR technology which OPSYS Tech developed and HASCO has tested.  This agreement supports HASCO to bring advanced LiDAR technology to customers in China and supports our customers for more advanced function of autonomous driving," said Mr. Xie Bin, General Manager of HASCO ADAS Business Unit.

"The signing of this collaboration agreement with a world leading Tier 1 supplier in China is a major step to bring Opsys LiDAR technology into significant number of brands, including global OEMs active in China and local OEMs with activity in western markets. This partnership includes exclusive terms, which represent the trust both parties have in each-other capabilities to bring best-in-class product to market in mass production to enable safe ADAS and Autonomous Driving features," said Opsys Director of Business Development APAC Stav Shvartz.

Automakers are pursuing use of LiDAR technology to increase vehicle safety; enhance advanced driver assistance systems (ADAS) and enable the adoption of L3/L4/L5 autonomous driving applications.

Opsys Tech has created an entirely new and ground-breaking category of LiDAR: Pure Solid State Scanning Micro-Flash LiDAR with no moving parts. Opsys Tech's patented Scanning Micro-Flash technology combines the best of existing methods without trade-offs, while delivering superior reliability and performance in every critical category at best value. Opsys Tech LiDAR technology delivers the advantages of flash LiDAR (low cost, robust and solid-state) with the better range and resolution of mechanical-sweep or oscillating mirrors (MEMS and Galvanometer systems). Opsys Tech Pure Solid State Scanning Micro-Flash LiDAR offers higher durability and better performance than other technologies that use any combination of mechanical moving parts, such as MEMS or rotating systems.

Opsys Tech LiDAR technology achieves four times the range of flash LiDAR while surpassing flash LiDAR's resolution and scanning rate. Other LiDAR technologies boast either long range or high resolution or a fast-scanning rate, but never all three instantaneously and in all conditions. Opsys Tech delivers all three, at once, in all conditions

"Our latest agreement, and others we expect to announce soon, are evidence the industry is recognizing the superior performance and value of Opsys Tech LiDAR," said Rafi Harel Opsys Tech CEO.

Opsys Tech Pure Solid State Scanning Micro-Flash LiDAR:

• Has no moving parts, delivering high durability
• Offers a low-cost of production by using vertical-cavity, surface-emitting lasers (VCSEL) and SPAD silicon receiver ICs
• Delivers four-times the range of flash LiDAR
• Supplies best-in-class resolution and the best-in-class scanning rate
• Delivers above 90% probability of detection at 200-meters range.
• Deliver "all specs all the time" across the full FOV

Opsys Tech has offices in Holon, Israel, and San Jose, California and will open this year a new office in China during Q1 to support the HASCO collaboration and other initiatives in the region. It plans to manufacture its units in Asia beginning late in the first quarter. Opsys Tech also expects to announce additional customer agreements in the first half of the year that will expand its market reach into Europe.

About Opsys Tech

Opsys Tech was founded in 2016, building a world-leading LiDAR solution that will drive adoption and commercialization of autonomous vehicles with maximized safety and performance. Opsys Tech is headquartered in Holon, Israel, with presence in San Jose, California; Seoul, Korea; Shanghai, China; and Prague, Czech-Republic.

About Huayu Automotive Systems Co., Ltd.

HASCO is a comprehensive and professional automotive parts system supplier covering more than 40 business areas. The company has 28 directly-invested subsidiaries, many of which have more than 30 years of history. There are 465 R&D, manufacturing and service bases and over 120,000 employees around the globe. HASCO commits itself to providing all customers with advanced technology, reliable products and excellent services.

www.opsys-tech.com

www.hasco-group.com

LinkedIn: https://www.linkedin.com/company/opsys-technologies

Media Contact: Scott Fosgard Communications: Scott Fosgard, [email protected]

SOURCE Opsys Tech