Benzinga | Sep 13, 2021 12:38PM EDT

Ouster To Supply Digital Lidar To Juzhen Data Tech's Autonomous EVs

* High-resolution digital lidar sensor provider Ouster (NYSE:OUST) collaborated with Juzhen Data Tech, a company engaged in the research and development of new energy delivery vehicles, autonomous delivery vehicles, and last-mile automated delivery services. The financial terms of the deal were not disclosed.

* Ouster aims to supply 1,190 digital lidar sensors through 2025 for Juzhen's next-generation delivery vehicles for the Chinese market.

* Juzhen plans to use Ouster digital lidar on its two next-generation electric vehicles to support autopilot functionality, then deploy fully autonomous delivery vehicles on public roads.

* Juzhen chose to work with Ouster because of the high resolution of its digital lidar and reduce costs while improving performance over time, Juzhen CEO Gu Zulin stated.

* Price Action: OUST shares traded higher by 1.15% at $7.90 on the last check Monday.