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Stock impact report

Cepton Announces Significant Engineering Contract with Koito

Cepton, Inc. (CPTN) 
Company Research Source: Business Wire
Key development contract to jump-start execution of new OEM program SAN JOSE, Calif.--(BUSINESS WIRE)--Cepton, Inc. (“Cepton” or the “Company”) (Nasdaq: CPTN), a Silicon Valley innovator and leader in high-performance lidar solutions for automotive and smart infrastructure applications, has announced today that it has signed a significant Engineering Services Agreement (the “Agreement”) with its long-term automotive Tier 1 partner and current shareholder, KOITO MANUFACTURING CO., LTD. (“Koito”) (TSE: 7276) on May 9, 2024.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240513780038/en/The contract will fuel Cepton’s customer-specific product development and program execution efforts for its near-range lidar. © Cepton, Inc.Under the terms of the Agreement, Koito will provide Cepton with a total of $10 million in engineering services fee for the quarter ended June 30, 2024, to support a major global OEM program that Cepton a Show less Read more
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