Joint Statement by Velodyne and Hesai

SAN JOSE, Calif.--(BUSINESS WIRE)--Velodyne Lidar, Inc. and Hesai Technology are pleased to announce that the two companies have entered a long‑term global cross-licensing relationship encompassing a broad range of 360° surround-view Lidar sensors. This mutually beneficial relationship covers both existing and future patents of both companies. Velodyne and Hesai have also agreed to dismiss all the current legal proceedings in the U.S., Germany, and China that exist between the two companies. Velodyne and Hesai are looking forward to a Lidar market that will offer highly diverse products for real time 3D sensing applications to benefit the community of autonomous vehicles and other applications.