(Hong Kong, June 17, 2021) – AAC Technologies Holdings Inc. (“AAC”, HKEX code: 2018), a world-leading provider of micro-technology solutions, announced the completion of the equity investment in Ibeo Automotive Systems GmbH (“Ibeo”), which is referred to as the Transaction. Both parties also established a strategic partnership. AAC Technologies’ professional optical and imaging technologies will be integrated into the development of Ibeo’s next-generation products to further improve and complete the latter’s manufacturing capability and the supply chain platform. After the Transaction, AAC Technologies will become a strategic shareholder of Ibeo, along with ZF Friedrichshafen AG and the company founder.
Ibeo is a leader in LiDAR systems. Its latest ibeoNEXT general-purpose solid-state LiDAR boasts real solid-state technology (next-generation LiDAR system) and a competitive price to meet the core demand of the automotive industry. In 2020, Ibeo was nominated by Great Wall Motor as one of the first qualified producers of solid-state LiDARs. Ibeo is one of the main suppliers in the fast-growing autopilot market for its leading technologies, industrial production capability, and competitive prices. Apart from the automotive market, Ibeo also signed a cooperation agreement for bulk orders with SICK, a market leader in optical sensors for industrial applications in 2021. Products will be used in the industrial market.
Combining a leading LiDAR manufacturer, a tier-1 automotive supplier, and a smart device and micro-technology solutions provider, this Transaction improves Ibeo’s capability of commercialization for automotive clients in Asia and even in the world, heightens Ibeo’s competitiveness, and provides opportunities to integrate AAC’s cutting-edge technologies, including AAC’s proprietary WLG technology and the high-precision manufacturing platform, to support Ibeo’s product development and strategies in the future. The new partnership also makes it possible for Ibeo and AAC Technologies to explore cooperation opportunities in other vertical fields, such as consumer electronics, which AAC Technologies has long dominated.
As a key milestone for AAC Technologies, this Transaction is aligned with its long-term strategic direction. It not only consolidates AAC Technologies’ dominance in the mobile phone market, but also marks its official entry into the automotive industry, allowing it to provide differentiated user experiences for more consumers.
Pan Kaitai, Executive Vice President and Chief Innovation Officer of AAC Technologies, said, “We are delighted to have the opportunity to become Ibeo’s strategic partner and commit ourselves to supporting and accelerating its continuous growth as a new shareholder. Ibeo is an undisputed leader in LiDAR and perceptive technologies with a reliable and innovative product portfolio. ibeoNEXT has been fully prepared for the upcoming Advanced Driver Assistance System (ADAS) and providing more competitive and high-performing products for extensive automotive clients.”
Christophe Marnat, Executive Vice President of ZF Friedrichshafen’s Electronics and ADAS Division, said, “We welcome AAC Technologies as a strategic partner to greatly support our applications in automobiles, industries, and consumer electronics.”
Doctor Ulrich Lages, the CEO of Ibeo, said, “The strategic partnership with AAC Technologies is another of Ibeo’s key milestones following the signing of the world’s first bulk order agreement for automotive solid-state LiDARs in 2020. It will strengthen our technological advantages and take us a step closer to the goal of becoming one of the three major suppliers of automotive LiDARs. By closely cooperating with AAC Technologies plus the sustaining support from ZF Friedrichshafen as our industrial partner, we will bring more new development opportunities for all stakeholders.”