Acconeer awarded three design wins by ALPS ALPINE for presence detection in cars to a European premium car manufacturer
The radar technology company Acconeer AB has been chosen by ALPS ALPINE to deliver radar sensors for the use case presence detection in cars to a European premium car manufacturer. Acconeer estimates the total potential value of the design wins to US$ 9-12 million over three years starting in 2022. By "design win" Acconeer refers to that the company's radar sensor has been selected for use in a customer product, but it is not equivalent to that an order has been placed.
These are the first design wins in this area for Acconeer. ALPS ALPINE is a world-leading manufacturer of electronic components, modules, and systems for cars.
Acconeer's unique ultra-low power and high precision radar sensor will be included in several of ALPS ALPINE's products serving different use cases. The new design wins announced today are for the use case presence detection, which is driven by industry standards such as European and Australasian New Car Assessment Programs (Euro NCAP and ANCAP). They provide consumers with independent information on the level of safety offered by vehicles in the event of a severe accident. In other geographies, demand for sensor technology will be driven by legislation such as the US "Hot Cars Act".
Lars Lindell, CEO of Acconeer, comments: "We have teamed up with ALPS ALPINE for a couple of years, and we are very pleased that they have managed to win business in this important lifesaving use case. We look forward to many more design wins in the future."
This information is information that Acconeer AB is required to disclose by the EU Market Abuse Regulation. The information was provided by the above contact person, for publication on 31 March 2020 at 18.00.
Acconeer is a leading radar sensor company based in Lund, south Sweden, in Ideon, the country's hottest region for wireless technologies. Acconeer is developing a truly leading ultra-low power, high precision 3D sensor which will revolutionize the way that mobile devices interpret their surroundings. Acconeers ultra-low power and millimeter precision sensor will be a robust and cost-effective solution for applications ranging from virtual reality and gaming to security and robot control. Information from the sensor can also be used to identify different materials, these are just some examples of the wide range of possibilities of application areas for the sensor. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA) and can be reached via telephone +46 (0)8 121 576 90 or via mail email@example.com. For more information: www.acconeer.com
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