While the company is expected to begin commercial deliveries next year, it expects to generate revenue of $25 million to $30 million in 2021. Luminar plans to grow this order book by over 40% this year. ![]() The company also continues to win more customers, with its forward-looking order book standing at $1.3 billion at the end of last year. China is one of the largest and fastest-growing EV markets, and building an early lead in the self-driving solutions space could help Luminar in the long run. Luminar is also planning to establish an office in Shanghai to work with SAIC. Luminar is also entering the Chinese market, with SAIC, China’s largest automotive company, planning to integrate the Sentinel system to its “R Brand” vehicles. The full-stack system should be significantly more lucrative for the company, given the higher software-related value add. The system will integrate Luminar’s perception software, its Iris lidar, and related components with Zenseact’s autonomous driving software. That said, there have been a couple of positive developments from the company in recent weeks.įirstly, the company is looking to transition from being just a lidar vendor into a full-stack autonomous vehicle player, with its Sentinel autonomous system developed in collaboration with Volvo’s subsidiary, Zenseact. ![]() The drop comes on the back of a broader sell-off in growth and tech stocks, and Luminar, which has yet to begin commercial production, has been badly impacted. The stock also remains down by about 13% over the last month. Luminar (NASDAQ:LAZR), a company that develops lidar sensors, has seen its stock decline by about 18% over the last week to about $24 per share. Investing in Electric Vehicle Component Supplier Stocks can be a good alternative to play the growth in the EV market. While Luminar stock jumped by close to 10% last Thursday, following the news, it has largely given up the gains since then.Įlectric vehicles are the future of transportation, but picking the right EV stocks can be tricky. Investors also seem to think this won’t have a long-term impact. There is also a possibility that Tesla is de-risking its reliance on a single technology, by testing self-driving capabilities using alternative hardware, given the high stakes involved in the self-driving race. It’s more likely that Tesla was only benchmarking the lidar technology against its own camera-based system. ![]() The company has been equipping camera hardware as standard in every vehicle it has delivered since 2016, enabling users to unlock capabilities by paying for software. It isn’t clear if Tesla actually intends to use lidar in its vehicles, considering that the company has invested significantly in camera-based systems. While having the world’s most valuable auto company test out hardware might appear positive for a fledgling company, it probably doesn’t mean too much for Luminar. ![]() This is interesting, considering that Tesla relies on a camera-based system for its autonomous-driving system, with CEO Elon Musk previously dismissing the use of laser-based sensors, produced by the likes of Luminar, as unnecessary. Luminar (NASDAQ: LAZR), a company that develops lidar sensors for use in self-driving cars, saw its stock move considerably late last week, following reports that EV behemoth Tesla was spotted testing Luminar’s sensors on its vehicles.
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