Velodyne Adds Nikon Corporation as a Strategic Investor

Velodyne Lidar, Inc. (Velodyne), the inventor and leader of the lidar sensor industry for autonomous vehicles (AV), today announced Nikon Corporation (Nikon) as a new strategic investor with an investment of $25M. The parties further announced they have begun discussions for a multifaceted business alliance. Nikon is one of the world's leading suppliers of products and solutions based on advanced opto-electronics and precision technologies.

Aiming to combine Nikons optical and precision technologies with Velodynes sensor technology, both companies have begun investigating a wide-ranging business relationship, including collaboration in technology development and manufacturing.

Velodyne believes the relationship will advance the timeline for manufacturing and mass production of lidar for the autonomous and advanced safety global market. The companies share a futuristic vision of advanced perception technology for a wide range of applications including robotics, mapping, security, shuttles, drones, and safety on roadways.

"Velodyne is creating a network of powerful alliances supporting the global autonomous vehicle industry," said David Hall, Velodyne Lidars Founder and CEO. "One hundred years ago, optics and camera technologies like Nikons helped people to see better. Now, the basis of those technologies is helping computers see."

About Velodyne Lidar, Inc.

Velodyne provides the smartest, most powerful lidar solutions for autonomy and driver assistance. Founded in 1983 and headquartered in San Jose, Calif., Velodyne is known worldwide for its portfolio of breakthrough lidar sensor technologies. In 2005, Velodynes Founder and CEO, David Hall, invented real-time surround view lidar systems, revolutionizing perception and autonomy for automotive, new mobility, mapping, robotics, and security. Velodynes high-performance product line includes a broad range of sensing solutions, including the cost-effective Puck™, the versatile Ultra Puck™, the perfect for L4-L5 autonomy Alpha Puck™, and the directional view Velarray™. For more information, visit http://www.velodynelidar.com.

About Nikon Corporation

Nikon Corporation has been a pioneer in optical technology markets worldwide since its inception in 1917. Today, Nikon offers a wide range of products utilizing advanced technologies, from consumer products such as digital cameras, camera-related products and binoculars to industrial precision equipment including FPD and Semiconductor Lithography Systems, microscopes and measuring instruments. In the future, Nikon will take advantage of its core competencies for launching new products and also proposing solutions. In addition, Nikon focuses on the development of the healthcare business field.