Cepton accelerates lidar development with $10M engineering contract

Cepton, Inc. (NASDAQ:CPTN) is advancing its light detection and ranging (lidar) technology through a newly signed engineering contract with Koito Manufacturing, its Tier 1 automotive partner and shareholder. Under the agreement, Koito will provide $10 million in engineering services to Cepton in support of a major global OEM program. The program is focused on developing Cepton's near-range lidar, which is required for Level 4 autonomous driving capabilities, for the OEM. Cepton's chief commercial officer Mi ...