Ouster To Supply Digital Lidar To Juzhen Data Tech's Autonomous EVs - Ouster (NYSE:OUST)

High-resolution digital lidar sensor provider Ouster OUST collaborated with Juzhen Data Tech, a company engaged in the research and development of new energy delivery vehicles, autonomous delivery vehicles, and last-mile automated delivery services. The financial terms of the deal were not disclosed.
Ouster aims to supply 1,190 digital lidar sensors through 2025 for Juzhen's next-generation delivery vehicles for the Chinese market.
Juzhen plans to use Ouster digital lidar on its two next-generation electric vehicles to support autopilot functionality, then deploy fully autonomous delivery vehicles on public roads.
Juzhen chose to work with Ouster because of the high resolution of its digital lidar and reduce costs while improving performance over time, Juzhen CEO Gu Zulin stated.
Price Action: OUST shares traded higher by 1.15% at $7.90 on the last check Monday.