The merger aims to get Luminar’s lidar laser sensors onto global automakers’ production lines. The merger is expected to close in 2020’s fourth quarter. Luminar, the manufacturer of high-performance lidar sensors for autonomous vehicles, is about to achieve a major milestone. The stock almost doubled in value immediately after listing. But if you'd like to invest in a self-driving future with a nice side of robotics, this is a company that deserves your close attention. Luminar Stock Offers High-Risk Pure-Play on Lidar Birds of a feather flock together. Luminar stock … Cumulative Growth of a $10,000 Investment in Stock Advisor, Luminar Is Overhyped: These Self-Driving Car Stocks Are Better Buys Right Now @themotleyfool #stocks $LAZR $F $GM $TSLA $XPEV $VLDR, Lou Whiteman, Rich Smith, and John Rosevear, Why Luminar Technologies' Stock Spiked Today, Thank These 3 Red-Hot Auto Stocks for Helping Save the Stock Market on Monday, Why Luminar Technologies' Stock Is Higher Today, Luminar Rebuts Mobileye Rumors; Tilray Does Deal as Nasdaq Inches Higher, Copyright, Trademark and Patent Information. Luminar has rapidly gained over 50 industry partners, including 7 of the top 10 global automotive … PYPL founder Thiel to build up the company, Luminar had raised about $250 million prior to today’s news. At that time, the company was only a year old and had raised $9 million. Innoviz Stock Innoviz was one of the 9 Startups Developing LiDAR Sensors for Cars we covered back in 2017. Luminar is merging with Gores Metropoulos, an affiliate of The Gores Group investment firm and Metropoulos & Co., and will trade under the ticker “LAZR” upon completion of the deal later this year. Luminar’s unprecedented strength in LiDAR technology is corroborated by the company’s big deal pipeline and wide partnership network. But it's still only half as fast as XPeng. Luminar Technologies Inc (NASDAQ: LAZR) is an autonomous vehicle sensor and software company with the vision to make autonomy safe and ubiquitous by delivering the only lidar and associated software that meets the industry’s stringent performance, safety, and economic requirements. And like many others investors saw this year, the company chose to offer Luminar Technologies stock through a SPAC IPO. Luminar is a maker of lidar, a technology that uses pulsed laser beams to measure distances that are used in most self-driving concepts. Not only does Velodyne already count most of the world's big automakers as clients, its distinctive "hockey puck" sensors can be seen on the prototype self-driving vehicles from many of the other companies aiming to enter the self-driving space as well -- and they're finding more and more customers in other industries (like robotics), too. Believe it or not, even though Luminar is the more recent IPO, XPeng stock is actually the faster-growing stock. Lidar startup Luminar is going public, the company announced on Monday. The reverse merger agreement with “special purpose acquisition company” Gores Metropoulos - details of which were revealed in August - has boosted Luminar’s cash reserves by nearly $600 million. Following in the footsteps of Velodyne Lidar … In fact, both Ford Motor Company (NYSE:F) and Chinese search-engine giant Baidu invested in Velodyne way back in 2016. That is great news for LAZR stock. In reality, CEO Mary Barra has positioned the company to be one of the big winners in a self-driving world. The company went public on Dec. 3 … Additionally, Luminar said it hired 16 members of Samsung's Munich-based DRVLINE software team to help strengthen its development team. No other lidar maker can best Velodyne's track record to date. Mobileye will collaborate with Luminar to use its lidar for the first generation of its level 4 Mobility-as-a-Service (MaaS) pilot and driverless fleet in key markets around the world. Velodyne's stock isn't cheap, of course. After the 150% sales growth that's projected for this year, analysts forecast that XPeng will grow its sales even faster next year -- 166%. Here's a hint: Company A is Luminar, and Company B is Chinese automaker XPeng. Luminar is a maker of lidar, a technology that uses pulsed laser beams to measure distances that are used in most self-driving concepts. Luminar: Since its market debut on Dec 3, the stock has gained more than 107%. Given the choice, which of these automotive businesses would you invest in? “This milestone is pivotal not just for us, but also for the larger automotive industry,” Luminar CEO Russell said. Now, it appears that LiDAR companies are following suit. Rich Smith (XPeng): Company A makes car parts, had $12.6 million in revenues last year, and costs $12 billion. McIntosh Laboratory To Provide Premium Audio For 2021 Jeep Grand Cherokee L, Emerging From Stealth, NODAR Introduces “Hammerhead 3D Vision” Platform For Automated Driving, Next-Generation Jeep Grand Cherokee Debuts With 3-Row Model This Spring, Waymo Pushes ‘Autonomous’ As The Right Generic Term For Self-Driving/Robocars, Blue White Robotics Aims To Become The AWS Of Autonomy, Stellantis Merger Points The Way For Threatened Auto Makers To Shore Up Their Futures, Self-Driving Cars And Asimov’s Three Laws About Robots, multiyear agreement to supply its high-tech sensors to Volvo Cars. First, we had all the electric vehicle stocks back their assets up into a s pecial p urpose a cquisition c ompany (SPAC) in reverse merger arrangements that sent shares soaring before deals even closed. Market data powered by FactSet and Web Financial Group. It has been a banner year for stocks of companies that want to disrupt the automotive industry, and Luminar Technologies (NASDAQ:LAZR) is the latest to ride the wave. What's more, if you like Luminar stock as a play on lidar in autonomous driving systems, well, XPeng gives you that, too. Luminar’s stock is up 40% already since its IPO. Just last month, XPeng announced that in 2021 it will become the first company in the world to integrate lidar into production model cars for sale. Luminar’s investor day featured presentations from members of Luminar’s leadership team and a Q&A season with Austin Russell, Founder and CEO, and Tom Fennimore, CFO. He spends a lot of time these days focused on the industrials and financials. Latest News about Luminar Technologies. NDAQ Investors are excited about the potential of the technology to help make robocars a reality. Tags Luminar Technologies Electronic Arts Inc/ Craig Technologies (Cape Canaveral FL) From Business Journals. Luminar Technologies Inc. stock dropped more than 17% on Tuesday, extending its losing streak to a fifth consecutive session, as word that Mobileye plans to make its own lidar … Company B makes entire, functioning electric cars, sold $333 million worth of them last year, and will probably grow that by nearly 150% this year (according to estimates from S&P Global Market Intelligence). Luminar’s move comes amid a wave of SPAC-based listings in recent months, including Nikola Motor, a maker of hydrogen- and battery-powered trucks, rival lidar sensor maker Velodyne, Los Angeles-based EV startups Fisker Inc. and Canoo and electric truck startup Lordstown Motors. Lidar’s ability to instantly create detailed 3D, point-cloud maps of a vehicle’s surroundings in daylight or darkness has made it essential technology for virtually every company working to perfect safe autonomous driving, with the notable exception of Tesla John Rosevear (Velodyne Lidar): I won't argue with anyone who thinks that Luminar has intriguing technology and is worth a flyer. It's easy to miss, but that's a huge advantage. On December 3, 2020, Luminar Technologies, a company that manufactures automotive LiDAR technology, went public through a merger with special purpose acquisition company (SPAC) Gores Metropoulos. The bottom line is that while competing systems from Tesla (NASDAQ:TSLA) and others tend to get more hype than Cruise, General Motors is positioned to not just be a survivor in a world of robotaxis, but potentially to win the race to get there. “We are making our next industry leap through our new long-term partnership with Gores Metropoulos, a team that has deep experience in technology and automotive and shares our vision of a safe autonomous future powered by Luminar.”. Luminar, which creates lidar technology critical to many automakers' autonomous driving efforts, is going public on Thursday through a special purpose … Gores Metropoulos shares rose 7% to $11.40 in Nasdaq trading on Monday. As Lidar Fever Hits Wall Street, Be Careful With Luminar Stock InvestorPlace 12/28/2020. Argo AI, which is closely affiliated with Ford and counts Volkswagen among its investors, is one of the many companies in the self-driving space that already use and trust Velodyne's lidar sensors.