Key points:
- Luminar's position ‘difficult to dispute' says Northland analyst Gus Richards
- Deal with Mercedes also follows talks with tech leader's Nvidia and Intel
- Luminar's state-of-the-art Lidar technology will be used for the production and development of autonomous vehicles
Yesterday marked a progressive day for Lidar specialist Luminar (NASDAQ: LAZR), robotics fans, and modern innovation as a whole. The company has officially entered a partnership with one of the leading luxury car brands; Mercedes Benz. Advancements in autonomous driving have been somewhat overshadowed by the abundance of EV’s overwhelming the automobile industry. However, Robo-taxi’s and self-driving vehicles are next on the agenda; and they don’t seem too far away.
Luminar, a state-of-the-art Lidar specialist entered a deal with Mercedes yesterday to accelerate the development of future automated driving technologies for passenger cars – or so-called ‘Robo-taxis’. This is an incredible milestone for Luminar, and as Northland analyst, Gus Richards pointed out, is ‘a major commercial win’ for the company. If investors are still curious as to Luminar’s credentials; the company has also given reference designs to Nvidia, and entered a partnership with Intel’s Mobileye – two leading names in tech innovation.
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Currently, Luminar’s technology is in preparation for large-scale production, and the deal with Mercedes means the company is – as Gus Richards correctly noted – ‘difficult to dispute’ in its leading position for Lidar technology. Richards reiterated his Outperform rating for Luminar, based on the companies market-leading positioning and evident technological advancements.
Moving forward, Luminar should be one to watch. Even in the face of the recent tech sell-off, the autonomous vehicle sector outperformed; partially driven by Luminar’s prominent deal. As production starts to ramp up, Luminar has plenty of opportunities to continue to prosper in a thriving, emerging market.
