Cepton Inc chief financial cfficer Hull Xu joined Steve Darling from Proactive to discuss the company's second-quarter performance.
Cepton achieved a milestone by setting a new company record for shipments of its LiDAR technology, demonstrating its robust momentum in the automotive and smart infrastructure markets.
Xu emphasized the notable achievement of Cepton, pointing out that the company is poised for a substantial increase in shipment volume in each successive quarter throughout the remainder of the year.
He also highlighted a significant accomplishment within the company's portfolio, as Cepton is actively fulfilling a multi-million dollar tolling contract, underscoring its strong standing in the market.
The company is on track to meet orders to support original equipment manufacturers' (OEM) start of production by the end of the year and has successfully delivered to General Motors with support from Koito, a strategic partner.
Xu also provided insights into Cepton's Smart Infrastructure division. The company has secured its first production orders for lidar installations in multiple airports across the United States.
Cepton is in advanced discussions to expand these projects to additional states and countries, showcasing the increasing adoption of its lidar solutions in various sectors.
View source version on newsdirect.com: https://newsdirect.com/news/cepton-looking-to-capitalize-on-business-initiatives-as-company-delivers-strong-2q-financials-498588728
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