OUST - Ouster announces expansion to May Mobility lidar supply deal

2023-05-16 07:31:57 ET

Ouster ( NYSE: OUST ) announced on Tuesday expansions to the company's supply agreements to provide lidar sensors for May Mobility’s autonomous vehicle solutions.

The expansions include a binding commitment for a combined purchase of over one thousand Ouster OS1 and Alpha Prime VLS-128 sensors through 2024 to meet demand for new AV deployments starting this year.

Ouster ( OUST ) has standing relationship with May Mobility and previously shipped hundreds of sensors for its commercial programs. May Mobility’s vehicles are outfitted with four Ouster OS1 digital lidar sensors for short and mid-range detection and one Alpha Prime sensor for long-range detection, providing surround-view coverage to increase safety and performance. To date, May Mobility has deployed more than 320K autonomy-enabled rides and recently announced the launch of its third-generation autonomous driving system, which it said further improves the safety, efficiency and rider satisfaction on the path to driverless commercial operations.

“We’re thrilled to supply May Mobility’s suite of lidar sensors, enabling 360-degree coverage for their autonomous vehicles. May Mobility recognizes that complete situational awareness and reliable detection is key to the safe deployment of AVs,” said Ouster ( OUST ) CEO Angus Pacala.

Shares of Ouster ( OUST ) rose 1.21% in premarket trading on Tuesday to follow on Monday's 17.21% rally.

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