Benzinga | Nov 2, 2021 10:58AM EDT

Ouster Reports Strategic Customer Deal With Local Motors For 1K+ Digital Lidar Sensors Through 2023, Non-Binding Forecast Of 20K+ Sensors Through 2025, No Terms Disclosed

Ouster to deliver thousands of digital lidar sensors to Local Motors through 2025

SAN FRANCISCO--(BUSINESS WIRE)-- Ouster, Inc. (NYSE:OUST) ("Ouster" or the "Company"), a leading provider of high-resolution digital lidar sensors, announced today that it has signed a strategic customer agreement with electric autonomous vehicle company, Local Motors. The agreement includes a binding commitment for over one thousand OS digital lidar sensors through 2023 and a non-binding forecast of over 20,000 sensors through 2025 which will be used to meet production demand for Local Motors' next-generation shuttles.

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(Photo: Business Wire)

Local Motors intends to equip its next-generation 3D printed autonomous shuttles with the full suite of Ouster OS sensors. This includes wide field of view, mid-range, and long-range digital lidar sensors for complete coverage as Local Motors aims to meet demand for Level 3 autonomous vehicles operating on mapped routes within campuses, city centers, and municipalities.

"Local Motors selected Ouster as a long-term and strategic lidar partner to drive market share growth for our autonomous electric shuttle, Olli 2.0, due its reliability, affordability, and scalability," said Local Motors CEO Vikrant Aggarwal. "The Local Motors Olli shuttles have already provided safe, autonomous mobility to thousands of passengers in ten countries around the globe -- and with Ouster's digital lidar, we expect to exceed our current capability while utilizing less lidar sensors overall. We believe the upgraded performance that Ouster offers is aligned with our product roadmap and will enable us to take on more complicated operational design domains."

"I am incredibly excited to partner with Local Motors, one of the largest and fastest growing autonomous shuttle manufacturers in North America, on their next-generation autonomous vehicle," said Ouster CEO Angus Pacala. "Similar to Ouster, Local Motors is committed to rapid innovation and execution in order to bring more performant and sustainable solutions to market, and I look forward to delivering on our production agreement over the coming years."