Benzinga | Jan 18, 2022 08:07AM EST

EXCLUSIVE: Stoneridge, Valens Semiconductor Join Forces For Tractor-Trailer Safety Solutions

Valens Semiconductor Ltd (NYSE:VLN) and Stoneridge Inc (NYSE:SRI) have partnered to introduce a connectivity solution related to vision and safety systems in tractor trailers.

Valens Semiconductor offers high-speed connectivity solutions for the automotive and audio-video markets, while Stoneridge designs and manufactures engineered electrical and electronic vehicle systems.

What Happened: Trucks experience visibility limitations due partly to the inability of existing connectivity technologies to support the level of data transfer needed to address challenges within the truck and the required length of the link between the tractor and the trailer.

Since 2020, Valens and Stoneridge have been working on developing a long-reach connectivity solution to deliver high-quality, zero-latency, error-free video.

Why It Matters: The solutions are based on the Valens VA6000 chipset family.

"Leveraging our unique connectivity technology, we aim to make the roads safer -- both for the truck drivers and for the people around them," said Gideon Ben-Zvi, CEO of Valens Semiconductor.

Price Action: VLN shares are up 2.03% at $6.80, while SRI stock is down 0.59% at $20.37 during the premarket session on the last check Tuesday.