Luminar Hits Production, Visibility Milestones

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Automotive lidar technology developer Luminar said that it began series production, ahead of schedule, of its Iris lidar units for an automotive client. The lidar units, the company said in revealing its financial results for the third quarter ended Sept. 30, will appear in the flagship electric vehicle from smart electric brand RISING AUTO. The brand is part of SAIC, China’s largest automaker.

Luminar’s technology helps power the vehicle’s RISING PILOT Intelligent Driving Program to enable advanced safety features and automated driving capabilities over time, the company said.

“With the start of series production, autonomous technology has for the first time evolved from R&D into consumer production vehicles,” said Austin Russell, Luminar founder and CEO.

The development came less than one month after Swedish automaker Polestar unveiled its Polestar 3 vehicle featuring lidar by Luminar, on Oct. 12. Luminar Iris is expected to be available to order on Polestar 3 beginning in the second quarter of 2023. Later this month, a third automaker, Volvo Cars, plans to unveil its fully electric  EX90 vehicle. The model will come standard with Luminar on every vehicle.

For the third quarter, Luminar reported non-GAAP net loss was $63.4 million, or $0.18 per share. The company said it still expects to generate revenues of $40 million to $45 million for the full year.

Luminar said its production facility in Monterrey, Mexico, is on track to be production ready by the second half of 2023.

Published: November 2022
Lidar, short for light detection and ranging, is a remote sensing technology that uses laser light to measure distances and generate precise, three-dimensional information about the shape and characteristics of objects and surfaces. Lidar systems typically consist of a laser scanner, a GPS receiver, and an inertial measurement unit (IMU), all integrated into a single system. Here is how lidar works: Laser emission: A laser emits laser pulses, often in the form of rapid and repetitive laser...
The processes in which luminous energy incident on the eye is perceived and evaluated.
The adjustable membrane located just in front of the crystalline lens within the eye. The iris gives the eye its color. See also iris diaphragm.
BusinesslidarvisionAutonomous drivingSensors & DetectorsLuminarautomotivevehicleelectricVolvoRising AutoPolestarSAICChinaAsia PacificEX90Rising Auto R7Polestar 3productionmanufacturingseries productionIrisautopilotADASAmericasIndustry News

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