Arbe's Radar Chipset Advances the Development of Safety and Autonomy Applications for Next-Generation Vehicle Platforms
TEL AVIV, Israel, July 11, 2024 /PRNewswire/ -- Arbe Robotics, Ltd., (Nasdaq: ARBE) (TASE: ARBE), a global leader in perception radar solutions, announced today a collaboration with a prominent European truck manufacturer to integrate Arbe's automotive grade imaging radar technology into the manufacturer's next-generation sensor suite, as part of the manufacturer's transition to an advanced implementation stage.
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Arbe's imaging radar technology effectively addresses the unique challenges of trucks, such as their larger size, the need for more distance to brake on time, and greater impact potential. These factors make it crucial for trucks to operate safely in any weather and lighting condition. With the largest channel array in the industry, Arbe's radar offers unique functionalities, including perception enhancement, free space mapping, and managing complex use cases such as detecting lost cargo on the road and detecting pedestrians, even at night. This advanced technology enhances driver assistance and supports Level 4 autonomous driving, which are essential for the trucking industry and its distinctive business models.
The European truck manufacturer has conducted extensive evaluations of Arbe's imaging radar chipset to confirm that it meets rigorous performance standards. The process involved equipping a fleet of trucks, conducting comprehensive field trials, and gathering extensive data to demonstrate the superiority of imaging radar, compared to other front sensors such as lidar and conventional radar. The manufacturer now installing cutting-edge radars based on the Arbe chipset in trucks for the following phase of developing safety and autonomy applications for its next-generation vehicle platform.
"We are excited to strengthen our collaboration with a leading European truck manufacturer," said Kobi Marenko, CEO of Arbe. "Our joint efforts have proven the exceptional capabilities of imaging radar, and as we enter the development phase, we are confident that this collaboration will drive groundbreaking advancements in vehicle sensor technology. Together, we are setting new standards for safety and innovation in the trucking industry."
About Arbe
Arbe (Nasdaq: ARBE), a global leader in Perception Radar solutions, is spearheading a radar revolution, enabling truly safe driver-assist systems today while paving the way to full autonomous-driving. Arbe's radar technology is 100 times more detailed than any other radar on the market and is a critical sensor for L2+ and higher autonomy. The company is empowering automakers, Tier 1 suppliers, autonomous ground vehicles, commercial and industrial vehicles, and a wide array of safety applications with advanced sensing and paradigm changing perception. Arbe, a leader in the fast-growing automotive radar market, is based in Tel Aviv, Israel, and has offices in China, Germany, and the United States.
This press release contains "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. contains "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. The words "expect," "believe," "estimate," "intend," "plan," "anticipate," "may," "should," "strategy," "future," "will," "project," "potential" and similar expressions indicate forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. These risks and uncertainties include, but are not limited to the truck manufacturer successfully completing the development of its safety and autonomy applications; the placement of orders with the Company by the truck manufacturer and the truck manufacturer being satisfied with the quality, performance and the timing of the delivery of the Company's chipset, the Company meeting the conditions to the release of the net proceeds of the debenture offering from escrow and meeting the covenants, the effect on the Israeli economy generally and on the Company's business resulting from the terrorism and the hostilities in Israel and with its neighboring countries including the effects of the continuing war with Hamas and any further intensification of hostilities with others, including Iran and Hezbollah, and the effect of the call-up of a significant portion of its working population, including the Company's employees; the effect of any potential boycott both of Israeli products and business and of stocks in Israeli companies; the effect of any downgrading of the Israeli economy and the effect of changes in the exchange rate between the US dollar and the Israeli shekel; and the risk and uncertainties described in "Cautionary Note Regarding Forward-Looking Statements," "Item 3. Key Information – D. Risk Factors" and "Item 5. Operating and Financial Review and Prospects" and in the Company's Annual Report on Form 20-F for the year ended December 31, 2023, which was filed with the Securities and Exchange Commission (the "SEC") on March 28, 2024, as well as other documents filed by the Company with the SEC. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and the Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.
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