QUEBEC CITY, Dec. 20, 2023 /PRNewswire/ — LeddarTech®, an automotive software company that provides patented disruptive AI-based low-level sensor fusion and perception software technology for ADAS, AD and parking applications, is pleased to announce the launch of LeddarVision™ Parking (LVP-H), its latest fusion and perception software stack for automated parking and parking assist.
LeddarTech proudly introduces LVP-H, the newest member of their award-winning LeddarVision family of automotive software solutions. The LVP-H features an innovative 4V4R sensor configuration, marking a significant advancement in automotive technology. This comprehensive fusion and perception software stack and human-machine interface (HMI) visualization application programming interface (API) is purpose-built to enhance the parking experience, particularly for premium ADAS L2/L2+ automated parking and parking assist applications such as intelligent parking assist (IPA), remote parking assist (RPA) and maneuver assist (MA).
Leveraging LeddarVision AI-based low-level fusion and perception technology, LVP-H excels by:
- Seamlessly integrating data from various sensors, ensuring an accurate and reliable parking experience with over a 95% success rate in detecting valid parking spaces.
- Minimizing false alarms, even in challenging operational design domains (ODDs) and complex environments.
With superior dynamic and static object detection capabilities, LVP-H is at the forefront of parking and safety, aligning seamlessly with advanced NHTSA IPA safety standards.
“We are thrilled to launch the LVP-H and, in preparation, LeddarTech has been working with a significant lead customer for well over a year to deliver the best parking software stack based on our low-level fusion and perception platform,” stated Frantz Saintellemy, CEO of LeddarTech. “This product embodies our unwavering dedication to propelling the automotive industry into a safer and more convenient future. As pioneers in AI-based low-level fusion and perception for ADAS and AD applications, we’re confident that the LVP-H will redefine benchmarks for automated parking and parking assist. It’s the perfect addition to our award-winning LeddarVision family, designed to elevate L2 to L3 ADAS, AD and parking applications,” Mr. Saintellemy concluded.
LeddarTech invites automotive OEMs, Tier 1s and analysts to visit their booth at CES 2024 in Las Vegas to meet with the team and experience their unique LeddarVision automotive software technology.
A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal, Toronto and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.
LeddarTech is responsible for several remote-sensing innovations, with over 150 patent applications (80 granted) that enhance ADAS, AD and parking capabilities. Better sensory awareness of the environment around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.
Additional information about LeddarTech is accessible at www.LeddarTech.com and on LinkedIn, Twitter (X), Facebook and YouTube.
Certain statements contained in this press release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act and Section 21E of the Exchange Act (which forward-looking statements shall also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws), including, but not limited to, statements regarding the anticipated benefits from LeddarTech’s recently completed business combination and statements relating to LeddarTech’s anticipated strategy, future operations, prospects, objectives and financial projections and other financial metrics. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: (i) the possibility that the anticipated benefits of the business combination and the anticipated tax treatment of the business combination will not be realized; (ii) the risk that shareholder litigation in connection with the business combination or other settlements or investigations may result in significant costs of defense, indemnification and liability; (iii) changes in general economic and/or industry-specific conditions; (iv) possible disruptions from the business combination or otherwise that could harm LeddarTech’s business; (v) the ability of LeddarTech to retain, attract and hire key personnel; (vi) potential adverse reactions or changes to relationships with customers, employees, suppliers or other parties resulting from the announcement or completion of the business combination; (vii) potential business uncertainty, including changes to existing business relationships, that could adversely affect LeddarTech’s financial performance; (viii) legislative, regulatory and economic developments; (ix) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak of war or hostilities and any epidemic, pandemic or disease outbreak (including COVID-19), as well as management’s response to any of the aforementioned factors; (x) access to capital and financing and LeddarTech’s ability to maintain compliance with debt covenants; and (xi) other risk factors as detailed from time to time in LeddarTech’s reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the risk factors contained in LeddarTech’s final prospectus filed with the SEC on December 4, 2023. The foregoing list of important factors is not exhaustive. Except as required by applicable law, LeddarTech does not undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Daniel Aitken, Vice-President, Global Marketing, Communications and Investor Relations, LeddarTech Inc. Tel.: + 1-418-653-9000 ext. 232 daniel.aitken@LeddarTech.com
- Investor relations website: https://investors.LeddarTech.com
- Investor relations contact: Kevin Hunt, ICR Inc. kevin.hunt@icrinc.com
- Financial media contact: Dan Brennan, ICR Inc. dan.brennan@icrinc.com
Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
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