Luminar technologies stock update#

However, the costs have been drastically reduced with Luminar having developed a module costing only $1000 per vehicle. This signifies that Lidar technology is more expensive with the one developed by Velodyne ( VLDR), one of the pioneers, costing tens of thousands of dollars. This is not the case for other manufacturers who rely on the sophistication of the Lidar for similar functions. However, he then integrates these with Tesla's deep learning software that only need video to make sense of the car's surroundings. One reason Elon Musk has preference for radar is its cheaper price, at $50 for a millimeter-wave sensor module made for cars. However, the ultimate aim remains the same, that is, in order to make self-driving vehicles aware of their surrounding environment. This technology which uses laser is chosen by most automotive manufacturers as their top sensing device, except for one: Tesla (NASDAQ: TSLA), which uses radar. The sensors provide a three-dimensional view of a car's surroundings. Lidar, short for light radar, is a crucial enabling technology for self-driving cars. I try to elucidate the reasons for this by looking at the market for lidar as well as competitive positioning. However, the stock remains under $20, and falling.

Luminar technologies stock update#

Subsequently, there was an update by analysts from Baird who upgraded the company from neutral to outperform with a $30 price target. The last time Luminar Technologies ( NASDAQ: LAZR) stock popped, by as much as 9.4%, was on June 24, after announcing that its Iris Lidar and Sentinel perception software will become standard in Volvo's ( OTCPK:VOLVY ) fully electric successor to the XC90 model in 2022. JHVEPhoto/iStock Editorial via Getty Images