LUMINAR TECHNOLOGIES, INC.

(LAZR)
  Report
Delayed Nasdaq  -  05/27 04:00:01 pm EDT
9.900 USD   +4.54%
05/26Geely-Backed ECARX to Go Public via $3.8 Billion SPAC Merger in US
MT
05/26Luminar Partners With ECARX to Bring Advanced Safety, Automated Driving Capabilities to China and Beyond
MT
05/26Luminar Partners with ECARX to Drive Next-gen Safety and Autonomy to China and Beyond
BU
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Self-driving sensor maker Luminar shares rally on Mercedes-Benz tie-up

01/20/2022 | 03:05pm EDT
FILE PHOTO: Frankfurt hosts the international Motor Show (IAA)

San Francisco, Jan 20 (Reuters) - Luxury carmaker Mercedes-Benz will partner with self-driving sensor maker Luminar Technologies Inc to enable fully automated driving on highways for its next-generation vehicles, Luminar's founder said.

Luminar shares surged 18% at $15.89 on Thursday. Luminar said Mercedes-Benz will have 1.5 million shares in Luminar, which will vest over time when certain milestones are met.

Vehicle autonomy "is really going mainstream with Mercedes," Luminar CEO Austin Russell told Reuters on Wednesday, without disclosing a timeframe for putting the technology in Mercedes' vehicles.

He said the two would develop "true" autonomy capabilities to keep drivers out of the loop, while improving safety capabilities such as automatic braking.

Automakers from Tesla to General Motors Co and Volvo have set their eyes on introducing autonomous vehicles for consumers, although regulatory and technological challenges remain.

Tech firms such as Alphabet's Waymo and Cruise also are developing self-driving taxis or trucks for commercial use such as ride-hailing and delivery services.

General Motors is working with its majority-owned Cruise self-driving unit to introduce a personal autonomous vehicle by as early as mid-decade, Chief Executive Mary Barra said this month.

"If you want to be able to get to truly autonomous capabilities in a consumer vehicle, and you have to industrialize hardware, software, all of these systems that come into play. That by the way, is completely different than the work that the robo-taxi companies have been working on," Russell said.

He said it is a challenge to mass produce lidars and make sure they are robust enough to meet stringent requirements from automakers.

"It is a completely different kind of business of going from a science and technology business to automotive corporation."

Lidars, which use laser light pulses to measure the distance between the sensor and the target object, are widely seen as essential to achieving full autonomous driving. But Tesla has shunned the sensor, saying it is expensive and unnecessary.

Volvo Cars and Luminar said earlier this month that they will put a hands-free driving system in an upcoming electric sport utility vehicle. (Reporting by Hyunjoo Jin; Additional reporting by Nivedita Balu; Editing by Kim Coghill and Aurora Ellis)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AB VOLVO 4.18% 173.46 Delayed Quote.-17.26%
ALPHABET INC. 4.20% 2246.33 Delayed Quote.-22.46%
GENERAL MOTORS COMPANY 3.07% 38.57 Delayed Quote.-34.21%
LUMINAR TECHNOLOGIES, INC. 4.54% 9.9 Delayed Quote.-41.45%
MERCEDES-BENZ GROUP AG 1.26% 66.02 Delayed Quote.-2.32%
TESLA, INC. 7.33% 759.63 Delayed Quote.-28.12%
VOLVO CAR AB (PUBL.) 5.74% 83.05 Delayed Quote.7.83%
All news about LUMINAR TECHNOLOGIES, INC.
05/26Geely-Backed ECARX to Go Public via $3.8 Billion SPAC Merger in US
MT
05/26Luminar Partners With ECARX to Bring Advanced Safety, Automated Driving Capabilities to..
MT
05/26Luminar Partners with ECARX to Drive Next-gen Safety and Autonomy to China and Beyond
BU
05/26Luminar Partners with ECARX to Drive Next-Gen Safety and Autonomy to China and Beyond
CI
05/25TRANSCRIPT : Luminar Technologies, Inc. Presents at J.P. Morgan’s 50th Annual Global ..
CI
05/25LUMINAR TECHNOLOGIES : Attracts Former Nvidia, Tesla, Apple and Tier 1 Executives, May 25,..
PU
05/25Luminar Attracts Former Nvidia, Tesla, Apple and Tier 1 Executives
BU
05/25Luminar Technologies, Inc. Announces Executive Appointments
CI
05/19Northland Capital Adjusts Luminar Technologies' Price Target to $13 from $23, Keeps Out..
MT
05/12INSIDER BUY : Luminar Technologies
MT
More news
Analyst Recommendations on LUMINAR TECHNOLOGIES, INC.
More recommendations
Financials (USD)
Sales 2022 41,8 M - -
Net income 2022 -309 M - -
Net Debt 2022 249 M - -
P/E ratio 2022 -11,2x
Yield 2022 -
Capitalization 3 461 M 3 461 M -
EV / Sales 2022 88,8x
EV / Sales 2023 28,6x
Nbr of Employees 500
Free-Float 61,3%
Chart LUMINAR TECHNOLOGIES, INC.
Duration : Period :
Luminar Technologies, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends LUMINAR TECHNOLOGIES, INC.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 9,90 $
Average target price 19,23 $
Spread / Average Target 94,3%
EPS Revisions
Managers and Directors
Austin Russell Chairman, President & Chief Executive Officer
Thomas J. Fennimore Chief Financial Officer
Sardar Gautham Vice President-Business Operations & Alignment
Alec E. Gores Independent Director
Matthew J. Simoncini Independent Director
Sector and Competitors
1st jan.Capi. (M$)
LUMINAR TECHNOLOGIES, INC.-41.45%3 461
DENSO CORPORATION-21.01%45 208
APTIV PLC-36.74%28 272
MAGNA INTERNATIONAL INC.-20.49%18 665
CONTINENTAL AG-24.39%15 085
HYUNDAI MOBIS CO.,LTD-20.63%14 706