ARBE - Arbe Selected by Top OEM for the Development of Imaging Radar for Production | Benzinga
Preparations for Serial Production Implementation Will Begin Immediately
TEL AVIV, Israel, July 1, 2024 /PRNewswire/ -- Arbe Robotics Ltd. (NASDAQ:ARBE) (TASE: ARBE), a global leader in Perception Radar solutions, today announced that one of the top ten OEMs worldwide has selected Arbe's chipset for the development of its next-generation imaging radar aimed at serial production. This major milestone underscores Arbe's leadership in radar technology and paves the way for substantial commercial growth.
The OEM, which is one of the automotive manufacturers named in connection with Arbe's recent convertible debenture offering on the TASE, has confirmed that preparations for serial production implementation will begin immediately. The selection follows a comprehensive competitive technical evaluation process and field testing of Arbe's chipset.
The selection of Arbe's technology presents a significant commercial opportunity due to its applicability across a wide range of vehicle classes. Moreover, this project is slated for an accelerated market entry.
"Being chosen by one of the top OEMs in the world is a landmark achievement for Arbe. We believe that by aligning with a major OEM, Arbe is well-positioned to capitalize on the growing demand for advanced radar systems and expects a ramp-up in sales and market share in the near future," said Kobi Marenko, CEO of Arbe. "This selection of the ...