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.