![]() The company was valued at $1 billion before going public through a December 2020 SPAC merger that started at $6 billion and shot as high as $8 billion at one point. Luminar Technologies had a market capitalization well over $6 billion in 2021. These competing visions have some investors wondering if Luminar Technologies is a good investment. His vision for an automated future involves 360-degree cameras equipped with high-end artificial intelligence. However, those limitations led Tesla ( NASDAQ:TSLA) founder Elon Musk to declare the technology dead before automated cars even arrived. It can do it in adverse weather with minimal interference from other LiDAR-equipped vehicles or even sunlight. The sensors developed by Luminar can see over 250 visible meters with over 300 points-per-square-degree at 10 Hertz. It’s the key feature that helps accurately determine where buildings, people, other cars, and potential obstacles and accidents could occur. LiDAR data is combined with GPS, scanners, and other data to provide a three-dimensional topography map of the world around you. It differs from radar (which uses sound) by using light to generate a three-dimensional map of the surrounding area. Not only that, but its technology is leading the market with the longest range, best resolution and performance, and least interference in the industry.įor the unfamiliar, light detection and ranging is a remote sensing technology. Luminar Technologies is an Palo Alto, California-based LiDAR sensor manufacturer. ![]() So, is Luminar Technologies a good investment? Luminar Technologies: Bird’s Eye View However, the probability is said to be high, and brings an equally high price tag. The Apple Car wants to use LiDAR, and it’s seriously considering Luminar as its provider, although it’s also still courting offers from other potential vendors. It wasn’t fully confirmed, but Bloomberg cited several people familiar with the matter. With Apple potentially as a client, is Luminar Technologies stock a Buy? Because of that, the computer giant needs to source parts from vendors, and Luminar is a leading LiDAR maker. Luminar teamed up with Volvo Cars (VOLCARb.ST) and announced in January last year that a hands-free driving system called "Ride Pilot", which will allow the car to fully take over driving tasks in some limited situations, would be first released in California.Luminar Technologies Inc ( NASDAQ:LAZR) gained media buzz on the announcement that Apple ( NASDAQ:AAPL) wants to build a self-driving electric vehicle. ![]() ![]() Palo Alto, California-based Luminar also said it plans to build a factory in Asia to support the multi-billion dollar deal. Luminar and Mercedes-Benz had announced a partnership in January last year. Luminar will supply the German carmaker with lidars, which use laser light pulses to measure the distance between the sensor and an object and are widely seen as essential to achieving full autonomous driving. Tech firms such as Alphabet Inc's (GOOGL.O) Waymo and Aptiv-Hyundai Motor joint venture, Motional, are also looking to develop autonomous vehicles for commercial use. Feb 22 (Reuters) - Self-driving sensor maker Luminar Technologies Inc (LAZR.O) announced an expanded partnership with Mercedes-Benz Group (MBGn.DE) on Wednesday to enable fully automated driving for its next-generation vehicles.Īutomakers from Tesla Inc (TSLA.O) to General Motors (GM.N) are focusing on autonomous vehicles, but technological and regulatory hurdles remain. ![]()
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