MicroVision, announces progress in key automotive long range Lidar feature development

MicroVision, a leader in innovative laser beam scanning technology, announced that it has made important progress in the development of its first-generation MEMS Dynamic Scanning Long Range Lidar (LRL) sensor module, including continued progress toward meeting key automotive industry requirements, which the Company believes will facilitate its development objective of producing hardware for demonstration and benchmarking by April 2021. These initial product tests demonstrated key features including an ability to achieve a range of 200 meters and continued functionality when exposed to sunlight, lidar sensors of other vehicles and other rogue signals. The Company believes continued progress on developing these features will be important in supporting its pursuit of potential strategic alternatives, which could include a sale or merger of the Company.

We expect that automotive industry standards will call for long range automotive lidar products to detect a target with 10% reflectance at 200 meters, which would give a lidar sensor the ability to detect a piece of tire on the roadway at that range and enable a vehicle to maneuver away from such hazards at highway speed. I believe the MicroVision team is on track to have our first generation LRL sensor module achieve this goal in addition to having high resolution at full range,” said Sumit Sharma, Chief Executive Officer of MicroVision. “Our initial product tests have also demonstrated that the sensor module has the ability to suppress noise from sunlight and other light sources with our new, proprietary MEMS scanning technique, which we expect will also be a key feature of any future product. I also believe gaining confidence in our ability to implement these features in our sensor module puts MicroVision on track to meet key lidar technology requirements for automotive OEMs and gives MicroVision a strategic advantage in the LRL space.”

We are excited about the progress we are making in the development of our first-generation MEMS scanning LRL sensor module,” continued Mr. Sharma. “By developing and demonstrating these core features early, we facilitate our ability to have hardware available for testing in the April 2021 timeframe.”