STRADVISION Achieves Record-Breaking Mass Production Milestone with Over 0.8M Units in H1 2024

September 12, 2024 01:00 AM AEST | By Cision

STRADVISION Achieves Record-Breaking Mass Production Milestone with Over 0.8M Units in H1 2024 — Image source: Kalkine Media

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834,000 Units Produced in H1 2024 – 79% YoY Growth from 2023
Over 2.65 Million Vehicles Equipped with SVNet Globally
On Track to Exceed 1.84 Million Units in 2024

SEOUL, South Korea, Sept. 11, 2024 /PRNewswire/ -- STRADVISION, a trailblazer in the automotive vision technology sector, is proud to announce a significant milestone in its production journey, surpassing 834,000 units in mass production during the first half of 2024. This outstanding achievement marks a 79% year-over-year growth, highlighting the company's consistent expansion and the escalating demand for its groundbreaking vision perception technology, SVNet.

With over 2.65 million vehicles on the road equipped with STRADVISION's state-of-the-art SVNet technology, the company continues to set the industry benchmark for ultra-lightweight and highly efficient deep learning-based solutions. This cumulative milestone underscores the global adoption of STRADVISION's advanced driver-assistance systems.

"We are thrilled to announce that our production units have exceeded 834,000 in the first half of this year, a testament to our relentless pursuit of excellence and innovation," said Philip Vidal, CBO of STRADVISION. "The 79% year-over-year growth reinforces our dedication to meeting our customers' evolving needs and strengthens our leadership in the automotive vision technology market."

Looking ahead, STRADVISION is on track to achieve over 1.84 million units in mass production by the end of 2024. This ambitious target is supported by the company's strong portfolio of project wins, with 15 new projects secured so far this year. These successes emphasize STRADVISION's strategic growth and its continued success in forging partnerships with leading automotive OEMs and Tier 1 suppliers worldwide.

As STRADVISION continues to drive innovation in the automotive industry, it remains focused on expanding its footprint in key markets. The company's deep learning-based vision perception technology is not only enhancing vehicle safety and driving convenience but is also playing a pivotal role in shaping the future of autonomous driving.

For more information on STRADVISION and its industry-leading 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.

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