Benzinga | Apr 12, 2021 10:49AM EDT

Velodyne, Ansys Partner For Autonomous Vehicle Safety Transformation

* Velodyne Lidar Inc (NASDAQ: VLDR) and Ansys Inc (NASDAQ: ANSS) are developing cutting-edge software models of automotive lidar sensors for better hazard identification abilities for highly progressive automotive vehicles (AVs).

* The partnership will incorporate Velodyne's lidar design into Ansys' virtual sensor suite and accelerate automakers' integration of Velodyne's sensor into AVs, delivering driving safety and a faster market path.

* AVs utilized lidar as a redundant detection technology across a wide range of operational situations.

* Velodyne partnered with Ansys to integrate an encoded lidar sensor model into real-time interactive driving simulator Ansys VRXPERIENCE to reduce development costs by enhancing lidar placement within AVs and validating AV performance.

* "Velodyne's leading-edge automotive lidar greatly increases the safety and reliability of ADAS, powering highly intelligent AVs that improve decision making across many complex edge case scenarios," stated Ansys CTO Prith Banerjee.

* Price action: VLDR shares traded lower by 6.35% at $12.53 on the last check Monday.