Prior to Luminar Day, the company announced a multibillion-dollar deal with Mercedes - while exact financial figures were not announced, the deal is Luminar's biggest, with The Verge reporting a tenfold increase in lidar volume in the deal "Luminar says is larger than all of its other OEM partnerships combined." Bringing the highly automated facility online can help bring lidar production costs lower, a key facet not just in Luminar's projected positive gross margin by Q4 this year, but also in the long run to enable mass-market deployment. Luminar looks to be positioning itself to accelerate commercial deployment of its lidar in late 20 until the launch of Iris+ slated for 2025. Luminar also announced the acquisition of Seagate's ( STX) lidar assets, and the establishment of Luminar Semiconductor, combining Black Forest Engineering, Optogration, and Freedom Photonics into a singular unit.Īlso among the announcements were a new commercial deal with Pony.ai, an insurance product tie-up with Swiss Re, and the announced that its highly automated facility in Mexico is expected to come online in Q2 this year, ahead of schedule. One of the main highlights from Luminar Day was the unveiling of Iris+, its next-gen lidar sensor allowing for enhanced lidar performance at higher speeds - the foundation for unlocking higher levels of autonomy. Luminar also announced a forecast to record triple-digit revenue growth each year for the next five years, supported by existing and new design wins along with the burgeoning growth of the lidar industry. It incorporated a new semiconductor subsidiary and entered into exclusive agreements in insurance products and its AI Engine. ( NASDAQ: LAZR) unveiled the creation of a lidar-powered ecosystem at Luminar Day. Following recent expanded partnerships with Polestar Automotive Holding UK PLC ( PSNY) and a multibillion-dollar deal with Mercedes-Benz Group AG ( OTCPK:MBGYY), Luminar Technologies, Inc.
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