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Raythink's Mass Production Project for HUD Products Has ... 2023-06-25

Raythink 2023-06-25 18:09 Posted on Guangdong On June 21st, in addition to several other ongoing projects, Raythink successfully achieved SOP (Start of Production) for another HUD (Head-Up Display) project at its production base in Guangming, Shenzhen, and commenced mass production. This marks another milestone in the scale production capability of Raythink's HUD, following the delivery of the first batch of HUD production orders in October last year. The HUD products produced in this mass production are custom-developed for a domestic brand customer whose vehicle model is sold globally and will be equipped as a standard feature across the entire product line. The product testing standards are more rigorous. Currently, Raythink has initiated customized development for this project in multiple languages to adapt to various market demands. After obtaining IATF 16949 certification last year, Raythink secured several designated projects, and this HUD project is one of them. The project is on an accelerated timeline, taking less than 12 months from Kick-off to SOP. Throughout the project, the team overcame various challenges and accumulated valuable experience, providing significant insights for future projects. For Raythink, 2023 is a year of delivering HUD designated projects, with at least three HUD projects facing mass production and delivery within the next 4 to 5 months. The existing production line at the Guangming base is unable to meet the demands of current trial production and mass production. The company is actively planning for new production lines and MES (Manufacturing Execution System) to be completed and operational by the end of July. By then, the production capacity of Raythink's Guangming base will be significantly expanded. To meet the mass production demands in 2024, Raythink is also planning for additional production capacity. At Raythink's Guangming production base, there is a dedicated team for HUD development and a HUD production line equipped with a professional R&D laboratory, advanced optical testing equipment, and reliability verification equipment. This enables Raythink to possess complete HUD development and manufacturing capabilities and ensure strict quality control for shipped products. The production base obtained IATF 16949 certification and ISO 14001 environmental management system certification in 2022, demonstrating systematic, scientific, and standardized management capabilities, and providing stable and high-performance manufacturing processes that meet the requirements of automotive companies. The potential of the HUD market is rapidly accelerating, and Raythink's rapid development in the past couple of years reflects this trend. In terms of customer cooperation, Raythink has formed deep partnerships with several domestic and international Tier 1 industry giants, working closely together to promote the penetration and development of HUD in smart cockpits. These partnerships include major technology companies such as Bosch, Visteon, and Continental. Raythink's services cover first-tier domestic brands, joint venture brands, and new energy vehicle manufacturers, among others. It is expected that in the second half of this year, while continuing to ensure a stable supply, Raythink will secure more HUD designated projects, achieving breakthrough progress in the advancement of new projects. In anticipation of upcoming market demands and order deliveries, Raythink is preparing its production and shipment verification. Additionally, Raythink will continue to advance product development, accelerate the construction of its phase 2 factory, attract more automotive electronics and HUD talent and industry experts, speed up product optimization, expedite capacity release, increase production, and enhance the company's competitiveness to seize more market share.