![]() ![]() With significant progress in 2021, the company looks to maintain market control. So far, Luminar is making a name for itself in the AV market. LAZR Stock Forecast – What to Expect Next The news excited investors as shares of LAZR stock jumped over 30% after the event. With the AV market expecting to grow over 22% annually in the next few years, this can be a great partnership for Luminar. “The common thread between our two companies is that our technologies are becoming the de facto solution for major automakers to enable next-generation safety and autonomy.” CEO Austin Russell praised the deal saying: The partnership offers automakers a complete experience with Luminar’s sensors and Nvidia’s software. The platform will use one long-range Luminar Iris lidar in its highway driving mode. In other LAZR stock news, the company is being chosen by Nvidia (Nasdaq: NVDA) to power its Drive Hyperion AV platform. Still on track to reach its goal of +60% annual growth in its order book for the year.įurthermore, Luminar is strengthening its balance sheet with more cash ($544.9 million) and less cash spent ($37.5 million) than 2020.This quarter, two leading AV companies, Embark Trucks and Kodiak Robotics, chose to use Luminar’s tech. The company also hit its goal of six major commercial wins in 2021.The new software features emergency braking and assisted highway driving. Luminar successfully developed its alpha version of the Proactive Safety functionality. ![]()
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