Ansys Partners With Velodyne On Autonomous Vehicle Safety

Engineering simulation software and services provider Ansys Inc. is collaborating with Velodyne to develop software models of next-generation automotive lidar sensors to identify driving hazards for autonomous vehicles. Ansys (ANSS) Chief Technology Officer, Prith Banerjee, said, “As part of Ansys’ AV ecosystem, Velodyne is helping to define the landscape of safe autonomous driving. Velodyne’s leading-edge automotive lidar greatly increases the safety and reliability of ADA, powering highly intelligent AVs that improve decision making across many complex edge case scenarios.” Banerjee added, “Using VRXPERIENCE, OEMs will validate the lidar’s software stack and have full access to a validated sensor model while preserving Velodyne’s IP.” (See Ansys stock analysis on TipRanks) Advanced driver assistance systems (ADAS) need to test and recognize edge case scenarios. Lidar technology locates and tracks objects across different situations, but to be validated, extensive physical testing is required, increasing the development cost of the system. Under the collaboration, Velodyne is integrating a ‘black box’ sensor model into Ansys VRXPERIENCE, which is a real-time interactive driving simulator. This will provide the ability to rapidly model a large number of edge case driving scenarios across millions of miles, drastically lowering the number of physical tests needed and in turn, product development costs. Recently, Needham analyst Richard Valera assigned the stock a Hold rating but did not set a price target. Valera commented, “Ansys is a leader in the simulation and analysis market, which is benefiting from a secular trend towards more analysis earlier in the design process.” Overall, the consensus on the Street is that Ansys is a Moderate Buy, based on 4 Buys, 3 Holds, and 1 Sell. The average analyst price target of $374.57 implies an upside potential of 2.1%. Shares have gained about 54.2% over the past year. Related News: Synopsys Snaps Up MorethanIP; Street Says Buy LiveXLive Media’s PodcastOne Partners With Samsung Microsoft Set To Acquire Nuance For $16B – Report More recent articles from Smarter Analyst: Synopsys Snaps Up MorethanIP; Street Says Buy ICF International Clinches $16 Million In Contracts From U.S. Labor Department Datadog Completes Sqreen Acquisition; Street Sees 29.2% Upside Dr. Reddy’s Receives Approval For Emergency Use Of Sputnik V In India

Velodyne, Ansys Partner For Autonomous Vehicle Safety Transformation

Velodyne Lidar Inc (NASDAQ: VLDR) and Ansys Inc (NASDAQ: ANSS) are developing cutting-edge software models of automotive lidar sensors for better hazard identification abilities for highly progressive automotive vehicles (AVs). The partnership will incorporate Velodyne’s lidar design into Ansys’ virtual sensor suite and accelerate automakers’ integration of Velodyne’s sensor into AVs, delivering driving safety and a faster market path. AVs utilized lidar as a redundant detection technology across a wide range of operational situations. Velodyne partnered with Ansys to integrate an encoded lidar sensor model into real-time interactive driving simulator Ansys VRXPERIENCE to reduce development costs by enhancing lidar placement within AVs and validating AV performance. “Velodyne’s leading-edge automotive lidar greatly increases the safety and reliability of ADAS, powering highly intelligent AVs that improve decision making across many complex edge case scenarios,” stated Ansys CTO Prith Banerjee. Price action: VLDR shares traded lower by 6.35% at $12.53 on the last check Monday. See more from BenzingaClick here for options trades from BenzingaApple Working On Smart-Home Ecosystem Efforts To Gain Market Share: BloombergMoSys Stock Is Trading Higher On Acquiring Five Custom Algorithm Search Patents© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.