RCS - MicroVision, Inc. - MicroVision Increases Production Capacity

MicrovisionAnnouncement

19/12/2024 15:30

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RNS Number : 7349Q  MicroVision, Inc.  19 December 2024

MicroVision Increases Production Capacity to Meet Anticipated Demand

REDMOND, WA / ACCESSWIRE / December 19, 2024 / MicroVision, Inc.
(NASDAQ:MVIS), a leader in MEMS-based solid-state automotive lidar and ADAS
solutions, today announced that it has increased production capacity for its
MOVIA L sensor to meet anticipated demand from the industrial sector.

Building on the relationship with its existing automotive Tier 1 manufacturing
partner, MicroVision expects output of MOVIA L sensors for 2025 to
significantly increase compared to 2024. The continued acceleration of
production capacity throughout 2025 will result in a reduced average cost per
sensor, while maintaining a high-quality product suitable for industrial
applications.

"Securing this production capacity is critical to support high-volume orders
from industrial customers, so we feel good closing out the year with this
commitment in hand," said Sumit Sharma, Chief Executive Officer. "We are
pleased with this scaling, particularly from a cost perspective, and our Tier
1 automotive supplier, ZF, is a strong partner to help us deliver high-quality
sensors into the industrial market."

About MicroVision

With offices in the U.S. and Germany, MicroVision is a pioneering company in
MEMS-based laser beam scanning technology that integrates MEMS, lasers,
optics, hardware, algorithms and machine learning software into its
proprietary technology to address existing and emerging markets. The Company's
integrated approach uses its proprietary technology to provide automotive
lidar sensors and solutions for advanced driver-assistance systems (ADAS) and
for non-automotive applications including industrial, smart infrastructure and
robotics. The Company has been leveraging its experience building augmented
reality micro-display engines, interactive display modules, and consumer lidar
modules.

For more information, visit the Company's website at www.microvision.com
(https://pr.report/57yo) , on Facebook at www.facebook.com/microvisioninc
(https://pr.report/57yp) ,and LinkedIn
at https://www.linkedin.com/company/microvision/ (https://pr.report/57yq) .

MicroVision, MAVIN, MOSAIK, and MOVIA are trademarks of MicroVision, Inc. in
the United States and other countries. All other trademarks are the properties
of their respective owners.

Forward-Looking Statements

Certain statements contained in this release, including product and
manufacturing capabilities, customer engagement and the likelihood of success,
opportunities for revenue, market position, and product portfolio are
forward-looking statements that involve a number of risks and uncertainties
that could cause actual results to differ materially from those in the
forward-looking statements. Factors that could cause actual results to differ
materially from those projected in such forward-looking statements include the
risk its ability to operate with limited cash or to raise additional capital
when needed; market acceptance of its technologies and products or for
products incorporating its technologies; the failure of its commercial
partners to perform as expected under its agreements; its financial and
technical resources relative to those of its competitors; its ability to keep
up with rapid technological change; government regulation of its technologies;
its ability to enforce its intellectual property rights and protect its
proprietary technologies; the ability to obtain customers and develop
partnership opportunities; the timing of commercial product launches and
delays in product development; the ability to achieve key technical milestones
in key products; dependence on third parties to develop, manufacture, sell and
market its products; potential product liability claims; its ability to
maintain its listing on The Nasdaq Stock Market, and other risk factors
identified from time to time in the Company's SEC reports, including the
Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other
reports filed with the SEC. These factors are not intended to represent a
complete list of the general or specific factors that may affect the Company.
It should be recognized that other factors, including general economic factors
and business strategies, may be significant, now or in the future, and the
factors set forth in this release may affect the Company to a greater extent
than indicated. Except as expressly required by federal securities laws, the
Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events, changes in circumstances or any other reason.

Investor Relations Contact

Jeff Christensen

Darrow Associates Investor Relations

MVIS@darrowir.com

+49 162-593-4931

Media Contact

Marketing@MicroVision.com

SOURCE: MicroVision, Inc.

 

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