Koito Integrates Cepton Lidar Laser Sensors In-house

Automotive tier one supplier Koito in Japan has announced its plans to acquire the remaining stake in lidar startup Cepton, bringing its MMT technology in-house. This strategic move aims to further solidify Koito's position in the automotive industry and enhance its lidar solutions.

The deal to acquire Cepton will result in the company operating as an indirect subsidiary of Koito. The two companies have a history of collaboration dating back to 2017, working together to develop high-performance lidar solutions for mass-market automotive, smart infrastructure, and industrial applications. Koito has also partnered with other lidar suppliers, such as Bloickfield of Germany, to integrate lidar laser sensors into front and rear lighting units.

Despite the advancements in lidar technology, manufacturers have faced challenges in increasing volumes and reducing costs. The offer of $3.17 for the outstanding stock represents a 25% premium, with the deal expected to be finalized by the end of April 2025. Koito's previous investments in Cepton, including the purchase of $100 million of convertible preferred stock in January 2023, have established it as a significant shareholder.

Dr. Jun Pei, CEO and Co-founder of Cepton, expressed enthusiasm about the partnership with Koito, stating, “I am excited about the next stage of Cepton’s growth as we embark on a new journey together with Koito. Our partnership will provide us with unique access to a broader range of opportunities and resources, positioning us as a leading automotive lidar company for years to come."

Michiaki Kato, President and COO of Koito, emphasized the technical capabilities of the Cepton team and the potential for enhancing Koito's sensor business. He stated, “We are convinced that having Cepton as a member of the Koito group will significantly enhance the competitiveness of our sensor business and drive industry standards, making safe autonomy truly available in every consumer vehicle."