It's Only Been Thirty Three Days
Summary of CES 2024 written by u/mvis_thma: (1) The (long awaited) CES update. But wait, there's more! : MVIS (reddit.com) and my comments from the same trip (we harassed those on booth duty together): (1) The (long awaited) CES update. But wait, there's more! : MVIS (reddit.com), if you have a few hours to kill on a plane, train, or automobile the comment section has more information and discussion.
Most recent news (mix from CES and last two weeks):
AEye
In October 2023 AEye terminated Luis Dussan (founder and CTO) (source), on January 29th 2024 Luis wrote an open letter to AEye shareholders pointing the finger at Matt Fisch (CEO), his decision in ousting key leadership as the reason for the Continental partnership breaking down and potential loss of RFQ wins, calling for his removal.
Aeva
On January 3rd Aeva announced: "one of the top global automotive OEMs has selected Aeva as its Tier 1 LiDAR supplier for its series production vehicle program. To Aeva’s knowledge, the production win represents one of the largest automotive series production awards in its class. The selection positions Aeva to become a trusted direct Tier 1 supplier to automotive OEMs globally"
On January 9th Aeva issues a press release with further details around the previously mentioned win:
"Daimler Truck AG (“Daimler Truck”), one of the world’s leading commercial vehicle manufacturers, announced today that Daimler Truck has selected Aeva as the supplier of long and ultra-long range LiDAR for its series production autonomous commercial vehicle program.
Under the production collaboration, Aeva will supply its latest Aeva Atlas™ automotive grade 4D LiDAR technology to Daimler Truck and collaborate with Torc Robotics, Inc. (“Torc”), an independent subsidiary of Daimler Truck, to enable SAE Level 4 autonomous vehicle capabilities beginning with the Class 8 Freightliner Cascadia truck platform. Daimler Truck intends to integrate the LiDAR sensors directly in its production process, making it easy for customers to buy autonomous ready trucks directly out of its manufacturing plants without the need for sensors to be retrofitted. Torc in turn will sell its virtual driver technology and supporting services as a subscription to customers. Torc’s driving software will use Aeva’s perception software, built around Aeva’s instant velocity data, to detect objects faster, farther away, and with higher accuracy. The multi-year collaboration begins in the first quarter of 2024 with Aeva’s start of production by 2026 and Daimler Truck’s production ramping up by 2027"
From CES 2024:
The market unfortunately didn't seem very interested:
Perhaps the hype in the lidar space has worn, perhaps the expectation set was a passenger vehicle win, not a commercial trucking win. For now it's wait and show me the money mode for investors.
Innoviz
Since the blog is called "Lidar on the street:"
January 5th 2024 Innoviz confirms losing shuttle program (ZF announced killing their program in Q4 2023): "Innoviz Technologies Ltd. (“Innoviz”) was informed by its shuttle program customer that the customer plans to exit the Original Equipment Manufacturing (OEM) portion of its business in a strategic realignment to focus on the automotive supplier portion of its business. As a result, the customer will no longer be manufacturing the shuttle for direct sale." From previous press releases it was claimed to be worth hundreds of millions over the lifetime of the program.
January 31st 2024 Innoviz announces strategic realignment due to InnovizOne transitioning into series production and focus on InnovizTwo and software development, as a result headcount will be reduced by 13%, additionally:
The Company is reducing its investments in initiatives that have meaningful upfront cash outlays and lengthy time horizons before achieving commercialization and securing sizeable series production volumes. These initiatives include the Minimum Risk Maneuver (MRM) software solution and the InnovizCore AI compute module, along with other previously unannounced initiatives.
Back in August 2023 Innoviz announced:
the BMW Group and Innoviz have started this first phase to develop an expected first-ever LiDAR based Minimal Risk Maneuver (MRM) system in the future. The MRM acts as a secondary safety driving decision platform that will leverage the advanced performance, reliability, and resiliency of the InnovizTwo LiDAR to manage real-time driving decisions.
The MRM system is part of a growing software suite from Innoviz that will also include its next-generation perception software. With roughly half of its research and development investment focused on software development, Innoviz has made rapid advances in deploying artificial intelligence (AI) and advanced machine learning to accelerate development and upgrade cycles of its software suite and to expand its core software capabilities.
Is BMW no longer interested in the MRM system? What are the implications to their partnership for using the InnovizTwo? Will we see another 6-K filed?
Luminar
Luminar announced at CES new partnership with Mercedes-AMG Petronas F1 Team:
Once operational, and subject to Fédération Internationale de l'Automobile (FIA) and Formula 1® regulatory compliance and approval, and in compliance with the FIA Formula 1 regulations, the sensor would create a real-time 3D map of the environment ahead of the FIA F1® Safety Car, notably enhancing the safety car driver’s ability to assess the situation on the track while maintaining the required high speeds.
Looks sick, good marketing, but very limited revenue... No update on model J (next gen sensor)
Cepton
Taking the opportunity to rub salt in Hesai's wounds:
WASHINGTON, Feb 1 (Reuters) - The United States on Wednesday added more than a dozen Chinese companies to a list created by the Defense Department to highlight firms it says are allegedly working with Beijing's military, as part of a broader effort to keep American technology from aiding China.
New additions to the list, opens new tab, first reported by Reuters, were posted on the Department of Defense website and include memory chip maker YMTC, artificial intelligence company Megvii, lidar maker Hesai Technology and tech company NetPosa.
Hesai Group said it does not sell products to any military in any country and it does not have ties with any military. The company said it was disappointed to be added to the list.
Hesai's addition to the list of "Chinese military companies" under section 1260H of the National Defense Authorization Act ultimately restricts U.S. military and contractors from using Hesai lidar beginning in 2026.
No big PR from Microvision, yet.
It's the right amount of mental fortitude, stubbornness, ability to see bias for what it is that makes or breaks an investor (or speculator). Time will tell.