EMBARGO: June 15, 2021, 10:30am ET | Photo by Andrew J. Hawkins / The Verge
Mercedes-Benz announced it will integrate Luminar’s lidar sensors into future production vehicles to enable autonomous driving capabilities.
The German automaker is also taking an equity stake in the Orlando, Florida-based company, acquiring a total of 1.5 million shares. Based on Luminar’s share price of $13.45 at market close January 19th, Mercedes-Benz is purchasing approximately $20.2 million worth of shares, or less than 1 percent of the company.
Lidar, a key ingredient in autonomous driving, is a laser sensor that uses near-infrared light to detect the shapes of objects. This helps autonomous vehicles “see” other objects on the road, like cars, pedestrians, and cyclists, all without the help of GPS or a network connection.
