On the date of publication, Samuel O’Brient did not hold (either directly or indirectly) any positions in the securities mentioned in this article. This news should remind investors that Luminar is helping lead the charge toward a driverless future. LAZR stock should also continue to climb as a result of the partnership. Now, it will be able to expand its autonomous capabilities, making progress as one the few companies with a large global presence.
#LUMINAR STOCK DRIVER#
But as Seeking Alpha reports, use of Luminar’s Iris lidar will allow the company to advance its driver assistance technology and provide a new “conditionally automated driving system.”Īs one of the world’s largest car companies, Mercedes-Benz already has an advantage over many competitors, including Tesla. The company isn’t always ranked among automakers making progress in the driverless race. Investors shouldn’t overlook the key competitive edge that this new deal will give Mercedes-Benz. It also continues the trend of significantly growing our business with existing customers as we execute and build trust with our partners.” The Road Ahead “This expanded Mercedes partnership is a result of the great work the Luminar team has done over the past couple years after our initial win at Mercedes. Luminar CFO Tom Fennimore firmly believes Luminar stands to grow as a result of this development. As InvestorPlace has reported, there’s ample evidence to suggest that Luminar’s lidar is better for on-road safety than competing technology from companies like Tesla (NASDAQ: TSLA). This is also a likely win for the German automaker. Mercedes-Benz has a truly global reach that spans several continents.
In a press release published this morning, Luminar described the partnership as a “multi-billion dollar deal” with the potential to “substantially enhance the technical capabilities and safety of conditionally automated driving systems.”įor Luminar, this is a massive step forward, as it will allow the company to demonstrate the power of its tech with an industry-leading name.
If anything, this deal will likely boost the shares of both companies. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. However, investors can attribute that to general market momentum more than the Luminar partnership. A high-level overview of Luminar Technologies, Inc. Of course, Mercedez-Benz stock has been more volatile throughout the day. The Autonomy Solutions segment designs, manufactures, and sells laser. It operates in two segments, Autonomy Solutions and Components.
#LUMINAR STOCK SOFTWARE#
Shares closed up by more than 28% for the day. Luminar Technologies, Inc., an automotive technology company, provides sensor technologies and software for passenger cars and commercial trucks in North America, the Asia Pacific, Europe, and the Middle East. Despite falling in pre-market trading today, LAZR stock has been rising steadily since Wall Street’s opening bell. Luminar Technologies (NASDAQ: LAZR), a company that specializes in lidar technology that helps self-driving vehicles detect their surroundings, went public in December and now trades at about 34.
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