HYMTF - Ouster pops after lidar deal with robotaxi specialist Motional is announced
2023-05-11 16:22:11 ET
Ouster ( NYSE: OUST ) announced on Thursday that it was selected by Motional to be the exclusive provider of long-range lidar sensors for all the company's all-electric IONIQ 5-based robotaxis. The serial production agreement will see Ouster supply Motional with Alpha Prime VLS-128 sensors through 2026.
The Alpha Prime long-range sensor is specifically designed for autonomous driving and advanced vehicle safety at highway speeds.
Financial terms of the deal were not disclosed.
Motional is a joint venture between Hyundai Motor Group ( OTCPK:HYMTF ) and Aptiv ( APTV ) that is deploying Level 4 autonomous vehicles for ride-hail and on-demand delivery applications.
Shares of Ouster ( OUST ) moved up 14.22% in postmarket trading to $4.28 vs. the 52-week trading range of $3.21 to $27.70.
More on Ouster:
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Ouster pops after lidar deal with robotaxi specialist Motional is announced