STRADVISION Surpasses 1 Million Units in Annual Production, Leading the Charge in Automotive Vision Technology

News provided by

Feb 26, 2024, 11:00 ET

SEOUL, South Korea, Feb. 26, 2024 /PRNewswire/ -- Building on the success of its groundbreaking SVNet with 3D Perception Technology, STRADVISION, a trailblazer in the automotive technology sector, proudly announces yet another milestone achievement, surpassing an annual commercial production of 1 million units. This remarkable feat comes on the heels of the company's announcement in September 2023, where STRADVISION celebrated surpassing 1 million units in cumulative commercial production since 2019.

The company's deep learning-based vision perception technology, SVNet, is celebrated for its ultra-lightweight design and unparalleled efficiency. With over 1.82 million vehicles globally equipped with SVNet since 2019, STRADVISION is setting the standard for innovation in automotive vision technology.

*1.82 million vehicles are numbers based on cumulative since 2019

The exceptional Year-over-Year (YoY) volume increase of approximately 189% underscores STRADVISION's unparalleled growth and industry impact. The projection from the previous year of exceeding 1 million units in annual commercial production has materialized, propelled by the successful introduction of 8 new model lineups by a prestigious German OEM. These additions not only meet customer demands but propelled STRADVISION to the forefront of advanced automotive technologies. As a driving force behind the widespread adoption of driver-assist systems incorporating vision AI technology in the automotive industry, STRADVISION plays a pivotal role in assisting customers as they seamlessly integrate cutting-edge features into their vehicles. This strategic expansion ensures that our solutions continue to lead the way in enhancing safety and driving convenience for vehicles equipped with our state-of-the-art technologies.

Junhwan Kim, STRADVISION's CEO, expressed gratitude to their customers for their continued support, emphasizing the instrumental role they played in reaching this significant milestone. He stated, "We are thrilled to exceed the 1 million units annual production mark, a testament to our commitment to innovation and meeting the evolving needs of our customers."

As the automotive industry continues to embrace advanced technologies, STRADVISION remains at the forefront, actively collaborating with automotive OEM and Tier 1 customers to secure a series of production projects globally. The company looks forward to exploring new business horizons and expanding its footprint in the European and Japanese markets.

With a robust foundation in deep learning-based vision perception technology, STRADVISION is poised for continued success as it shapes the future of autonomous driving capabilities and advanced driving assistant systems. For more information on STRADVISION and its cutting-edge technologies, please visit STRADVISION.

About STRADVISION

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.

SOURCE StradVision