Thanks to the news of the collaboration with Mobileye, shares of technology firm Luminar Technologies Inc (LAZR) got a positive boost last week. After the news, it is now clear that Luminar will become one of the manufacturers of robot vehicle supplies, and this increases the long-term outlook greatly.
For more than two years, Luminar and Mobileye have been working together and signed a new contract in November 2020, which prompted LAZR shares to grow sharply. But the specifics of the relationship remained unclear after that. It is now clear that Laser Radars (LIDARs) and related solutions will be offered by Luminar for the autonomous car driving system being built by Mobileye. The state of shipments at a price of less than $1,000 per LIDAR is a special feature.
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This is a comparatively small amount, considering that it cost more than $10,000 for the first prototypes of such instruments. Obviously, more inexpensive devices are required for the mass deployment of robocars and robots with active safety systems. According to Mobileye, the defined criteria for price, safety and efficiency are only to be met by Luminar Technologies.
Not just the expense, but the compact size is the advantage of Luminar LIDARs. It allows the hardware component of the autopilot to be incorporated without a major overhaul of the body of the vehicle.
Mobileye is now owned by Intel Corp. (INTC), and substantial financial and marketing assistance will be obtained from autopilot. This might, in fact, be a chance to launch mass manufacturing of Luminar.
Luminar Technologies Inc (LAZR) was down -6.08% to $31.05. The stock added 12.42 percent over the week while gain over the past month rises to impressive 128 percent. The market capitalization of the company now stands at $10.72 billion with 204 percent gain since beginning of the year.