The Three Parties Established a Cooperation Platform in
China to Jointly Promote the
R&D and Commercial Application of 4D Imaging Radar for
Autonomous Driving
TEL
AVIV, Israel, April 28,
2023 /PRNewswire/ -- Arbe Robotics Ltd. (NASDAQ:
ARBE) ("Arbe"), a global leader in perception radar solutions,
today announced that Arbe and Weifu High-Technology Group signed a
strategic cooperation agreement with KargoBot, DiDi's autonomous
freight company, to provide 4D Imaging Radars based on the Arbe
proprietary chipset. The three parties agreed to establish a
cooperation platform in China to
jointly promote the R&D and commercial applications of 4D
Imaging Radars in the field of autonomous driving, as announced by
Weifu in a separate release earlier today.
DiDi Global is a leader in innovative mobility technology in
China, providing safe, inclusive,
and sustainable transportation and local services worldwide.
KargoBot, DiDi's autonomous freight company, focuses on the R&D
and commercial operation of autonomous driving technology for L4
autonomous trucks. In 2023, KargoBot obtained a commercial
autonomous vehicle test license in Beijing. As of March
2023, KargoBot's cumulative revenue has exceeded
100 million yuan. Following an
extensive evaluation process, KargoBot chose Weifu's imaging radar
system based on Arbe's chipset to enhance safety in their
autonomous trucks.
KargoBot has announced that it has developed an innovative,
hybrid unmanned solution that consists of a lead driven vehicle
equipped with a driver assist solution, followed by multiple L4
autonomous trucks. This solution can greatly improve the efficiency
of various scenarios in commercial operations. At present, KargoBot
has more than 100 autonomous trucks. Weifu will develop and produce
4D Imaging Radars utilizing the Arbe chipset to meet the needs of
KargoBot's L4 autonomous driving system, including high-speed data
processing, 360° perception, and real-time intelligent
decision-making, to help autonomous vehicles provide safer and more
reliable logistics and transportation services.
"As a well-known manufacturer of domestic auto parts, we are
honored to be chosen by KargoBot to provide Imaging radars for L4
trucks, which have the most demanding safety standards and require
advanced sensing capabilities," says Xu Yunfeng, CEO of the
Weifu Group. "Our collaboration with Arbe allows us to deliver
customized, cutting-edge imaging radar solutions with high
performance, high perception, and high reliability to the rapidly
growing autonomous driving and V2X markets. This strategic
cooperation is a significant milestone in our mission to provide
unrivaled safety and autonomy to the Chinese automotive
industry."
Arbe's Perception Radar chipset revolutionizes automotive
safety, providing ultra-high resolution to support advanced
perception capabilities at mass market price, with top performance
in all environments, weather, and lighting conditions. Arbe's
solution leverages 2,304 virtual RF channels, complemented by
robust processing supporting more than 100,000 detections per
frame; it delivers imaging 100 times more detailed than the leading
radar solutions on the market, enabling stationary object
detection, false alarm elimination, and interference avoidance and
mitigation.
"We are excited to announce that DiDi's KargoBot will be
incorporating radars based on Arbe's chipset into their L4 trucks,"
says Kobi Marenko, CEO of Arbe. "As
a recognized leader in the industry, their selection of Arbe's
solution is a testament to the superiority of our advanced
technology. The implementation of next generation imaging radars
will advance the development of autonomous vehicles and contribute
to a safer future for everyone."
KargoBot, Weifu, and Arbe agreed to continue to deepen the
strategic cooperation and combine technology, capital, and talent
to further develop advanced technological products, and accelerate
the commercialization of autonomous driving solutions in the field
of logistics and freight.
About Weifu High-Technology Group
Weifu
High-Technology Group Co., Ltd. is a leading automotive component
manufacturer and one of China's
Top 500 enterprises. Headquartered in Wuxi, Jiangsu Province, Weifu has 17 wholly or
mostly majority-owned subsidiaries and two joint ventures. The
company is listed on the Chinese stock exchange and is partially
state-owned. Since its foundation in 1958, Weifu has successfully
upgraded and enlarged its original product series from fuel
injection products to fuel injection systems, after treatment
systems and air management systems, and built a competitive supply
chain for automotive core components in China. In 2020, Weifu generated sales of
approximately $1.94 billion and
employed more than 7,050 people worldwide.
About Arbe
Arbe (NASDAQ: ARBE), a global leader in Perception Radar Chipset
Solutions, is spearheading a radar revolution, enabling truly safe
driver-assist systems today while paving the way to full
autonomous-driving. Arbe's imaging radar is 100 times more detailed
than any other radar on the market and is a mandatory sensor for
L2+ and higher autonomy. The company is empowering automakers,
tier-1 suppliers, manufacturers of delivery robots, commercial and
industrial vehicles, and a wide array of safety applications with
advanced sensing and paradigm-changing perception. Arbe is a leader
in the fast-growing automotive radar market that has a projected
total addressable market of $11
billion in 2025. Arbe is based in Tel Aviv, Israel, and has an office in
the United States.
Cautionary Note Regarding Forward-Looking
Statements
This press release may contain "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," "project," "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. Statements that are not historical facts,
including any statements that are made at the investor and analyst
event described in this press release, are forward-looking
statements. You should carefully consider risks such as the risks
relating to the market for and incorporation of Arbe's radar
systems in autonomous vehicles, the development of safe autonomous
vehicles that include Arbe's radar systems, the ability of Arbe to
deliver products that meet the quality and delivery requirements of
automakers (OEM's), the performance of the DiDi truck in operating
conditions, the extent of orders for Arbe's chipsets, tier-1
automotive suppliers and the ability of the tier-1 suppliers and
automakers to incorporate Arbe's radar system in vehicles in a
manner to enable the Arbe radar systems to function as intended,
the safe installation of Arbe's radar on autonomous vehicles, the
effect of any present and future government regulations relating to
autonomous vehicles, the ability of the tier-1 and automakers to
maintain the systems on an ongoing basis, and the risk factors and
uncertainties described in "Cautionary Note Regarding
Forward-Looking Statements," "Item 5. Operating and Financial
Review and Prospects'' and Item 3. Key Information –Risk Factors''
Arbe's Annual Report on Form 20-F for the year ended December 31, 2022, which was filed with the
Securities and Exchange Commission on March
22, 2023, as well as the other documents filed by Arbe with
the SEC and any documents which are filed by Arbe prior to this
press release. 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 Arbe 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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