Luminar and Mercedes-Benz Expand Partnership with Multi-Billion Dollar Deal
Luminar, a leading lidar maker, recently announced an expansion of its collaboration with Mercedes-Benz with a multi-billion dollar deal. Mercedes-Benz is expected to incorporate the next version of the Luminar Iris lidar in its semi-automated driving system for many future Mercedes models. This deal is based on a deal signed by the two companies in January 2022, in which Mercedes-Benz said it would include the Luminar lidar in future high-end models.
Luminar’s Stock Jumps 25% After Announcement
After the announcement, Luminar’s stock jumped more than 25%. Luminar CEO Austin Russell said, “We are starting to deploy this technology the fastest way in the industry. Mercedes is among the top in the car industry, and their decision to double down on Luminar reinforces this commitment.”
Multi-Billion Dollar Expansion of Previous Deal
Luminar didn’t reveal expected production volumes; but it described it as an expansion of a previous deal as multi-billion dollar, with a Luminar spokesman saying the size of the agreement is larger than the previous contract with Mercedes-Benz. Luminar will launch a new version of its next-generation Iris lidar system immediately after announcing its fourth quarter and 2022 financial results.
Mercedes-Benz to Improve Automated Driving Features
The new Mercedes system will improve the driving ability and travel a lot while driving at speeds up to 130 kilometers per hour on the highway, and in urban environments. Markus Schaefer, Mercedes-Benz’s board member for production and supply chain management, said, “Next, we want to implement advanced automated driving features in our portfolio, on a larger scale.”
Benefits of the Lidar System
The Iris lidar system is designed to provide a more complete view of the driving environment and improve the accuracy of autonomous driving systems. It has a range of up to 250 meters and can detect objects in the dark, making it ideal for use in semi-autonomous and autonomous vehicles. The system also has a wide field of view, allowing it to detect objects in the driver’s peripheral vision.
Luminar and Mercedes-Benz Collaboration
Luminar and Mercedes-Benz have been working together since 2018, when the two companies signed an agreement to develop autonomous driving technology. The two companies have since collaborated on a number of projects, including the development of a prototype semi-autonomous vehicle. The latest multi-billion dollar expansion of the collaboration is a testament to the progress the two companies have made together.
The multi-billion dollar expansion of the collaboration between Luminar and Mercedes-Benz is a significant milestone in the development of autonomous driving technology. The Iris lidar system is designed to provide a more complete view of the driving environment and improve the accuracy of autonomous driving systems. The new Mercedes system will improve the driving ability and travel a lot while driving at speeds up to 130 kilometers per hour on the highway, and in urban environments.