The ADAS System Will Integrate Camera and Radar Fusion, Delivering the Same Level of Quality and Functionality as LiDAR-based Systems for the Chinese Automaker
TEL AVIV, Israel, Sept. 26, 2024 /PRNewswire/ -- Arbe Robotics Ltd. (NASDAQ: ARBE) (TASE: ARBE), a global leader in Perception Radar Solutions, today announced that its Tier 1 HiRain Technologies, is accelerating the development of an ADAS system for a Chinese automobile manufacturer using the Arbe chipset. The ADAS system will include both camera and radar fusion, effectively removing LiDAR from the current system while maintaining the same level of quality and functionality. The ADAS system is anticipated to enter serial production by Q4 2025, pending final approval from the OEM.
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In January, Arbe announced that HiRain Technologies was embarking on a rigorous data collection phase that planned to cover 1 million kilometers using a vehicle fleet equipped with LRR610 Imaging Radars, developed from the Arbe chipset. To achieve this initiative, HiRain Technologies' vehicle fleet is using massive amounts of collected data.
"Our LRR610 Imaging Radars, powered by the Arbe chipset, leverage the industry's leading ultra-high resolution capabilities, offering performance never before seen in radar technology," says Chengjian Fan, CTO of HiRain Technologies. "Our recent data collection initiative has shown the optimization of both sensor fusion and perception, further enhancing the capabilities of imaging radar and making advanced ADAS systems more affordable while providing true safety and advanced functionality."
Arbe's chipset includes an extensive channel array of 48 transmitting (Tx) and 48 receiving (Rx) channels, which powers HiRain's LRR610 with ultra-high resolution in both azimuth and elevation. The high channel array delivers a dense point cloud resulting in highly detailed imaging.
"HiRain Technologies and Arbe are working together to transform global automotive safety by infusing radar technology with capabilities that were once unique to other sensors," said Kobi Marenko, Chief Executive Officer of Arbe. "This groundbreaking initiative will demonstrate how imaging radar can provide an alternative to other sensors on the market, providing a solution that enhances safety at a consumer-friendly price point."
About Arbe Arbe (Nasdaq: ARBE), a global leader in Perception Radar solutions, is spearheading a radar revolution, enabling 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.
About Beijing JingWei Hirain Technologies Founded in 2003, HiRain focuses on providing customers in the fields of automobile and unmanned transportation with electronic products, R&D services, and overall solutions for high-level intelligent driving. Headquartered in Beijing, HiRain has established modern production plants in Tianjin, Nantong, and Malaysia, forming a perfect R&D, production, marketing, and service system. Based on the concept of "value innovation and serving customers", the company adheres to the strategies of "professional focus", "technology leadership" and "platform development", and is committed to becoming a world-class comprehensive electronic system technology service provider, a full stack solution supplier for intelligent networked vehicles and a leader in high-level intelligent driving MaaS solutions. For more information please visit: https://www.hirain.com/
Cautionary Note Regarding Forward-Looking Statements 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. 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 not limited to the Company's being able to meet HiRain's quality and timing requirements and HiRain being able to market its radar product using the Company's chipset, the Company meeting the conditions to the release of the net proceeds of its recently announced 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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