Luminar technologies claims to have built LiDAR systems from ground-up that are cost-effective
On Monday, Florida-based Luminar Technologies announced that it has entered into a definitive agreement to merge with Gores Metropoulos, Inc. With a market capitalisation of US $3.4 billion, this LiDAR service provider has so far partnered with 7 of the top 10 automakers in the world. The company claims to have built a new type of LiDar systems from scratch that meets the safety and cost standards of level 3 to level 5 autonomy. Austin Russell founded Luminar at the age of 17. Today, this startup is valued at $3 billion. Is this valuation justified, and what does Luminar’s success mean to the industry?
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