Cision PR Newswire
STRADVISION Surpassed 1 million Units Milestone for SVNet in Cumulative Commercial Production Since 2019
News provided byStradVision
Sep 19, 2023, 11:00 AM ET
- SVNet Milestone: Over 1.24 million vehicles equipped with STRADVISION's SVNet software
- 2023 Growth Projection: Anticipating annual commercial production to exceed 1 million units with the introduction of 8 new model lineups by a German OEM
- Strategic Collaborations: Collaborating with automotive OEM customers this year to secure multiple series production programs in Europe and Japan
SEOUL, South Korea, Sept. 19, 2023 /PRNewswire/ -- On September 19, 2023, STRADVISION proudly announced a significant achievement: their groundbreaking deep learning-based vision perception technology, SVNet, has exceeded the remarkable milestone of 1 million units in cumulative commercial production since 2019.
As an industry pioneer in deep learning-based vision perception technology, STRADVISION initiated the commercial production of SVNet in 2019 and has now surpassed an impressive 1 million units in cumulative production by the first half of 2023. Presently, a staggering 1.24 million vehicles worldwide feature STRADVISION's cutting-edge technology, SVNet.
SVNet is renowned for its ultra-lightweight design and exceptional efficiency, seamlessly integrating deep learning-based object recognition with minimal computational and power requirements. This advanced solution is compatible with over 18 System-on-Chip (SoC) platforms and offers more than 30 distinct object recognition functions. It has become an indispensable element in numerous projects focused on mass-producing vehicle models equipped with autonomous driving capabilities at level 2 or higher. The technology's robustness and adaptability, honed through extensive experience in the automobile industry, significantly contribute to its success.
Lately, with the spotlight on advanced automotive technologies such as Adaptive Cruise Control(ACC), Autonomous Emergency Braking(AEB), and Lane Keeping Assistance Systems(LKAS) for safer and more convenient driving, automotive OEM customers are actively working to incorporate these features into their vehicles. Notably, STRADVISION's vision perception technologies, including Object Detection (OD) and Free Space Detection (FSD), are applied and support customers' eagerness to adopt driver-assist systems leveraging vision AI technology.
STRADIVISION's unwavering commitment to meeting customer demands has propelled the development and production of SVNet. On its current trajectory, the company foresees surpassing an annual commercial production of 1 million units, driven by the introduction of 8 new model lineups by a German OEM set to commence in 2023.
Sunny Lee, STRADVISION's COO and US CEO expressed gratitude to their customers for their instrumental role in reaching this significant milestone. Lee further elaborated, "In the upcoming year, we eagerly anticipate exploring new business horizons through collaborations with our esteemed automotive OEM customers across the European and Japanese markets."
Founded in 2014, STRADVISION is an automotive industry pioneer in artificial intelligence-based vision perception technology for ADAS. The company is accelerating the advent of fully autonomous vehicles by making ADAS features available at a fraction of the market cost compared with competitors. STRADVISION's SVNet is being deployed on various vehicle models in partnership with OEMs; can power ADAS and autonomous vehicles worldwide; and is serviced by over 300 employees in Seoul, San Jose, Detroit, Tokyo, Shanghai, and Dusseldorf. STRADVISION has been honored with Frost & Sullivan's 2022 Global Technology Innovation Leadership Award, the Gold Award at the 2022 and 2021 AutoSens Awards for Best-in-Class Software for Perception Systems, and the 2020 Autonomous Vehicle Technology ACES Award in Autonomy (software category). In addition, STRADVISION and its software have achieved TISAX's AL3 standard for information security management, as well as being certified to the ISO 9001:2015 for Quality Management Systems and ISO 26262 for Automotive Functional Safety.
View original content to download multimedia:https://www.prnewswire.com/news-releases/stradvision-surpassed-1-million-units-milestone-for-svnet-in-cumulative-commercial-production-since-2019-301931513.html
NOTE: This content is not written by or endorsed by "WKBN", its advertisers, or Nexstar Media Inc.