Luminar to supply lidar sensors for Mobileye's self-driving fleet
Reuters
Published Nov 20, 2020 09:05AM ET
By Paul Lienert
(Reuters) - Luminar Technologies, the self-driving sensor startup that is about to go public, said on Friday that it will supply laser-based lidar sensors to Intel Corp 's (O:INTC) Mobileye (F:0ME) subsidiary for its test fleet of self-driving vehicles.
Mobileye is one of the world's largest suppliers of camera-based sensors used by most top automakers in their advanced driver assistance systems (ADAS), and also is developing high-definition maps for automated vehicles.
Terms of the deal were not disclosed.
Mobileye is also the hub of Intel's initiative to build a multimodal Mobility as a Service (MaaS) business that incorporates different modes of transportation from e-scooters to robotaxis.
Luminar said its lidar will be incorporated into Mobileye's self-driving hardware and software system, which also uses radar and surround-view cameras.
In May, Mobileye acquired Israel startup Moovit, one of the world's leading MaaS providers, and said the service eventually would include self-driving robotaxis.
Mobileye and parent Intel are part of a consortium with BMW (DE:BMWG), Aptiv (N:APTV) and others to develop self-driving systems that the group has said it could sell to other automakers.
Luminar said it has development deals with a number of automakers, with Volvo among the first to use the company's lidar on self-driving vehicles in 2022.
In August, Luminar said it planned to go public through a reverse merger with Gores Metropoulos Inc (O:GMHIU), a NASDAQ-listed special purpose acquisition company, in a deal valued at $2.9 billion and expected to close this quarter.
Investors in that deal include tech billionaire Peter Thiel, Geely Automobile's (HK:0175) Volvo Cars and VectoIQ, the firm that helped Nikola Corp (O:NKLA) go public through a SPAC, also known as a blank-check firm.
Luminar is one of several lidar makers to pursue reverse mergers with SPACs. Velodyne Lidar (O:VLDR) went public earlier this year, and more recently Aeva announced a similar plan.
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Written By: Reuters
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