Innoviz Technologies Ltd (INVZ)

[WeTheMarket]

Luminar stock pops as lidar becomes standard on next-gen electric Volvo
Jun. 24, 2021, By: Brandy Bet https://seekingalpha.com/news/3709632-luminar-stock-pops-as-lidar-becomes-standard-on-next-gen-electric-volvo?utm_source=advfn.com&utm_medium=referral

- Lidar sensor company Luminar Technologies (NASDAQ:LAZR) says its Iris lidar and Sentinel perception software will be standard on Volvo's fully electric successor to the XC90, which will be unveiled in 2022.
- The vehicles will include state-of-the-art lidar hardware with Iris and Sentinel and an autonomous driving computer powered by Nvidia's DRIVE Orin and software from Zenseact and Volvo.
- “This is a watershed moment for the industry, and Luminar’s most significant win towards establishing the next era of safety technology,” says Luminar founder and CEO Austin Russell. “Going from a select highway pilot option to Luminar powering all next generation Volvo flagship cars as standard will kick off this new safety paradigm, serving as the catalyst for what we’ve been calling Proactive Safety. Volvo thinks life saving technology shouldn’t be optional, and we couldn’t agree more.”
Luminar shares are up 9.4%.
- Peer stocks: Velodyne Lidar (VLDR +1.5%), Aeva (AEVA +1.6%), Ouster (OUST +2.2%), and Innoviz (INVZ -0.2%).
- Luminar co-created the full-stack Sentinel autonomous driving solution with Volvo subsidiary Zenseact and the product was first announced earlier this year.