Luminar and Mercedes-Benz Expands Partnership; Luminar Debuts New Emergency Steering AI Software with Iris+ and NVIDIA DRIVE Orin
- None.
- None.
Insights
Luminar's recent announcements signify substantial advancements in automotive safety and autonomous driving technologies. Their collaboration with Mercedes-Benz for the Official FIA F1® Safety Car and the integration of LiDAR technology into high-performance vehicles underscore the growing trust in LiDAR's capabilities. LiDAR, or Light Detection and Ranging, uses pulsed laser light to measure distances and is pivotal for creating detailed three-dimensional maps of a car's surroundings, which is crucial for both safety features and autonomous driving.
The introduction of Automatic Emergency Steering (AES) and Automated Valet software, powered by Iris+ LiDAR, represents a leap forward in proactive safety measures. AES, in particular, could be a game-changer in avoiding collisions. It's not just about detecting threats; it's about taking immediate action to steer away from potential accidents when braking alone is insufficient. This level of automation in vehicle response could potentially reduce the number of traffic accidents, thereby impacting insurance costs and vehicle safety ratings, which are significant factors for consumers and manufacturers alike.
The creation of six new purpose-built chips by Luminar Semiconductor indicates a strategic move to control the technology stack and improve the performance of LiDAR systems. By developing these chips in-house, Luminar may reduce costs, enhance the functionality of their systems and expedite the production process, which could lead to a competitive advantage in the market.
The partnership expansion with Mercedes-Benz, the adoption of Luminar's LiDAR technology by leading automakers and the integration with NVIDIA and Mobileye's platforms suggest a robust commercial trajectory for Luminar. The company's strategic positioning within the automotive industry, particularly in the luxury and high-performance segments, could lead to increased market share and influence in the rapidly evolving autonomous vehicle space.
Luminar's successful Run at Rate production test for Volvo Cars is a critical milestone, indicating production scalability and reliability, which are crucial for investor confidence. The ability to produce at scale often leads to improved margins and can be a strong indicator of future financial performance. Moreover, the diversification into both combustion engine vehicles and EVs widens the potential market for Luminar's technologies, catering to a broader consumer base and hedging against the volatility of a single market segment.
The announcement of new commercial agreements with companies like Kodiak Robotics and Gatik also opens revenue streams in the logistics and trucking industry, which is a burgeoning market for autonomous technology. Such partnerships not only bolster the company's bottom line but also provide real-world applications and data that can further refine Luminar's offerings.
The automotive industry is witnessing a paradigm shift towards safety and autonomy and Luminar's recent developments place it at the forefront of this transition. The integration of advanced LiDAR technology into safety cars, such as the Official FIA F1® Safety Car, serves as a high-visibility endorsement of Luminar's technological prowess and reliability at the pinnacle of motorsport, which could influence consumer perception and adoption rates.
The company's commercial growth, illustrated by its technology being designed into over 20 vehicle models worldwide, reflects the increasing demand for advanced driver-assistance systems (ADAS) and autonomous driving features. As automakers race to meet stringent safety regulations and consumer expectations, Luminar's offerings could become more embedded in industry standards, shaping future vehicle designs and manufacturing processes.
Moreover, Luminar's collaborations with NVIDIA and Mobileye, leaders in AI and computer vision, respectively, enhance its ecosystem and could lead to the development of more integrated and advanced autonomous solutions. Such strategic partnerships are critical in an industry that relies heavily on interoperability and standardization.
- Unveiled a concept of the Official FIA F1® Safety Car equipped with Luminar technology as an extension of existing work with Mercedes-Benz for their production vehicle lineup
- Debuted Luminar’s Automatic Emergency Steering (AES) Software with Iris+ LiDAR integration, running on the same automotive-grade NVIDIA DRIVE Orin processors used for production vehicles
- Debuted Luminar 3D Maps and Automated Valet features; showcased live demonstrations in new integrated reference vehicle
- Designed and manufactured 6 new purpose-built chips across receiver, laser, processor, for current and future generations of our LiDAR in-house with Luminar Semiconductor, Inc.
- Met milestone for hardware and software readiness for global start of production this year at scale, beginning with Volvo Cars’ EX90
- Expanded automotive partnerships and scale; on both combustion engine vehicles and EV’s
“Mercedes-Benz has expanded our partnership to Formula 1, where they are integrating our same leading technology designed to keep drivers safe in their next generation vehicle lineup into their official world-renowned Safety Car,” said Austin Russell, Founder and CEO of Luminar. “Luminar is abundant throughout CES this year, from automakers, to technology partners, to suppliers, to the track, where we’re showcasing the latest LiDAR and AI powered safety and autonomous features. It’s a glimpse into the future and a testament to our technology and business, and we look forward to it being standard for all drivers, starting with the arrival of the Volvo Cars EX90 this year.”
Mercedes-Benz Expands Partnership
Luminar and the Mercedes-AMG PETRONAS F1 Team announced a new strategic collaboration at CES 2024 that will leverage Luminar’s existing development work with Mercedes-Benz to integrate Luminar’s LiDAR technology into the Official FIA F1® Safety Car. The ability to detect still and moving objects at high speeds and under wide ranging conditions make Luminar’s LiDAR an excellent match for the Official FIA F1® Safety Car. Luminar and the Mercedes-AMG PETRONAS F1 Team will work together to integrate Luminar’s technology into the roofline of the Mercedes-AMG GT Black Series.
New Software and Iris+ Live
Luminar debuted Automatic Emergency Steering (AES) as well as its new Automated Valet software derived from its 3D maps, all powered by the new Iris+ LiDAR at CES 2024, with live on-track crash avoidance vehicle demonstrations. Participants will experience how Luminar’s Iris+ LiDAR-powered Proactive Safety™ provides high-confidence and ultra precise detection, faster and farther than today’s most advanced camera and radar powered ADAS systems, and how new AES capabilities can help avoid collisions and save lives in critical situations drivers can encounter, even those where avoidance by braking is impossible. Luminar has also developed a fully Automated Valet feature based on its LiDAR data and 3D maps collected in real time, so consumers can leave it to Luminar to park.
Innovation at the Chip Level
Luminar has produced six new purpose-built chips for current and future generations of Luminar LiDAR since the formation of Luminar Semiconductor in Q2 2023. By combining Luminar’s chip design subsidiaries Optogration, Freedom Photonics, and Black Forest Engineering into a unified and scalable business, it enables rapid innovations and collective breakthrough developments with custom materials while meeting stringent automotive standards.
2024 Volvo EX90 start of production
Luminar has met its year-end industrialization milestone for readiness for global start of production with Volvo with hardware and software, beginning with the EX90 this year. In Q3 2023, the Luminar successfully passed its first major Run at Rate production test for Volvo Cars at its highly automated, high volume manufacturing facility in
Commercial Growth
Luminar is achieving rapid commercial growth across hardware, software/AI, and semiconductors. Its technology is designed into over 20 vehicle models from its automotive partners around the world, which includes both combustion engine vehicles and EV’s.
As more automakers compete to deliver safer, smarter cars, technology providers are also playing an increasingly important role in helping automakers develop advanced safety systems and unlock automated driving functionality. Luminar and NVIDIA are working together to help leading automakers deliver enhanced safety and automated driving on Volvo EX90, Polestar 3, autonomous trucks from Kodiak Robotics and Plus; and across certain Mercedes-Benz production vehicle lines, and as NVIDIA’s long-range LiDAR partner on its Hyperion software platform. Luminar and Mobileye’s collaboration has also recently culminated in its first production implementation with the Polestar 4 as part of a new vehicle platform.
New commercial wins also cover both long-haul trucking and middle-mile logistics for some of the biggest retailers in the world. Kodiak Robotics announced they have now selected Luminar as the exclusive long-range LiDAR provider for their next generation autonomous truck platform. Luminar also announced that it entered a multi-year production agreement with Gatik to standardize our technology on their fleets of middle-mile delivery trucks serving customers.
Luminar’s CES exhibit will feature a vision of the Official FIA F1® Safety car, the Mercedes-AMG GT Black Series, and the Polestar 3 at the
About Luminar:
Luminar is a global automotive technology company ushering in a new era of vehicle safety and autonomy. For the past decade, Luminar has built an advanced hardware and software/AI platform to enable its more than 50 industry partners, including the majority of global automotive OEMs. From consumer vehicle programs with Volvo Cars and Mercedes-Benz to technology partnerships including NVIDIA and Mobileye, Luminar is poised to be the first automotive technology company to enable next-generation safety and autonomous capabilities for global production vehicles. For more information please visit www.luminartech.com.
Forward-Looking Statements
Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “aims”, “believe,” “may,” “will,” “estimate,” “set,” “continue,” “towards,” “anticipate,” “intend,” “expect,” “should,” “would,” “forward,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the safety performance of software and the readiness of hardware and software for future vehicle production. These statements are based on various assumptions, whether or not identified, and on the current expectations of Luminar’s management and are not predictions of actual performance. Forward-looking statements are subject to risk and uncertainty that could cause actual results to differ materially. For further information, review “Risk Factors” in the latest Annual Report on Form 10-K filed by Luminar and other documents filed periodically with the SEC. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made and Luminar undertakes no obligation to update any forward looking statement to reflect events or circumstances after the date of this press release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240109007883/en/
Media Relations:
Milin Mehta
Press@luminartech.com
Investor Relations:
Aileen Smith
Investors@luminartech.com
Source: Luminar
FAQ
What was announced by Luminar (Nasdaq: LAZR) at CES 2024?
What is the significance of the expansion of the Mercedes-Benz partnership for Luminar (Nasdaq: LAZR)?
What new software and features were debuted by Luminar (Nasdaq: LAZR) at CES 2024?
What is the significance of Luminar's innovation at the chip level?
What is the status of Luminar's readiness for global start of production with Volvo?
How is Luminar achieving commercial growth?
