Market Overview

Cepton Technologies Furthers the Advancement of Autonomous Driving With Its MMTTM LiDAR Technology

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Cepton
Technologies, Inc.
, a provider of 3D LiDAR solutions for automotive,
industrial, and mapping applications, today announced it will provide
Koito Manufacturing Co., Ltd. (TYO:7276), a leading global tier-one
supplier of exterior automotive lighting, with its miniaturized LiDAR
solution for autonomous driving.

The compact design of Cepton's high performance LiDAR sensors enables
direct integration into a vehicle's lighting system to take advantage of
the latest autonomous driving technology without impacting its sleek
design. With its innovative Micro-Motion Technology (MMTTM)
platform, Cepton's LiDAR sensors enable vehicles to recognize and track
objects from all four corners for a true 3D image of its surrounding
environment.

Cepton's MMTTM LiDAR sensors feature advanced technology free
of mechanical rotation and frictional wear, producing high-resolution
imaging of a vehicle's surroundings to detect objects at a distance of
up to 300 meters away. Cepton is continuing to innovate and evolve its
low-power and high-resolution LiDAR technology for integration into
automotive lighting systems.

As the No.1 tier-one automotive lighting supplier, Koito is looking for
a variety of sensors to meet the growing demand for autonomous vehicles.
Koito is interested in the potential of the miniaturized LiDAR solution
developed by Cepton, and with the customized LiDAR shipment, Koito is
pursuing verification of its functionality, performance and reliability.

"We are excited to bring advanced LiDAR technology to vehicles to
improve safety and reliability," said Jun Pei, CEO and co-founder of
Cepton. "With the verification of our LiDAR technology, we hope to
advance the goals of Koito, a global leader within the automotive
lighting industry producing over 20 percent of headlights globally and
60 percent of Japanese OEM vehicles."

Used widely in industrial markets including aerospace and construction,
LiDAR technology has the potential to reshape the entire transportation
industry and consumers' expectations about what a car can do. According
to a market report1 by Yole Développement (Yole), the global
automotive LiDAR market will "reach a market value of $5B by 2023 and
$28B by 2032," which represents a tremendous opportunity for Cepton to
bring its cutting-edge technology to automakers worldwide.

Source1: LiDARs
for Automotive and Industrial Applications 2018 report
, Yole
Développement, 2018

About Cepton Technologies, Inc.

Cepton Technologies, Inc. is a 3D sensing solutions provider shipping
next-generation LiDAR products for the automotive, industrial and
mapping markets. Founded in 2016 and led by LiDAR and advanced image
industry veterans, Cepton has a leadership team that recognizes where
the automotive industry and Internet of Things (IoT) market are headed
and have deployed four advanced LiDAR solutions that are mapping the
future. Cepton LiDAR technology delivers unrivaled detection range and
resolution at low cost, to enable perception for the fast growing market
for smart machines.

For more information, visit http://www.cepton.com/.

About Koito

Under the corporate message, "Lighting for Your Safety", Koito
Manufacturing Co., Ltd (Koito) has been marking a history of leadership
in automotive lighting since its establishment in 1915. Today, the Koito
Group consists of 32 companies located in 12 countries worldwide and
provides products and services to customers all over the world, through
the global network led by five major regions (Japan, North America,
Europe, China, and Asia.) Its products, recognized for its high quality
and advanced technology, are widely used by automotive makers worldwide.
The company is responding to the future transformation of mobility
through the development of next-generation lighting technologies and
related equipment, control systems, and environmentally friendly
products, materials, and production methods. For more information please
visit www.koito.co.jp/english.

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