Velodyne's stock isn't cheap, of course. Lidar startup Luminar is going public, the company announced on Monday. On December 3, 2020, Luminar Technologies, a company that manufactures automotive LiDAR technology, went public through a merger with special purpose acquisition company (SPAC) Gores Metropoulos. He spends a lot of time these days focused on the industrials and financials. It built its LiDAR systems from scratch. Just last month, XPeng announced that in 2021 it will become the first company in the world to integrate lidar into production model cars for sale. Find me on Twitter at, From Los Angeles, the U.S. capitol of cars and congestion, I try to make sense of technology-driven changes reshaping how we get around. That day could come sooner than you think: Cruise said Dec. 9 it has recently started testing self-driving vehicles without driver monitors in San Francisco. In fact, both Ford Motor Company (NYSE:F) and Chinese search-engine giant Baidu invested in Velodyne way back in 2016. Founded by optics prodigy Austin Russell in 2012, who dropped out of Stanford University after receiving a $100,000 fellowship in 2013 from PayPal Experts: Metro Orlando is driving autonomous vehicles to widespread adoption — soon. Luminar, a fast-growing maker of laser lidar sensors that help self-driving cars see the world, intends to list shares on Nasdaq Recent news which mentions Luminar Technologies. SPAC IPOs are the new trend for 2020. The advantage is a faster, cheaper route to going public and raising funds than a conventional IPO, and one that looks particularly appealing given the runup in major U.S. stock indices this year despite the economic devastation of the coronavirus pandemic. In reality, CEO Mary Barra has positioned the company to be one of the big winners in a self-driving world. Lidar is shorthand for light detection and ranging, and it is a way for self-driving cars and other robots to use lasers to detect objects in the world around them and get fast, accurate measures of spatial locations based on how long it takes the laser beams to reflect back to the sensors. About Luminar Stock Luminar Technologies, Inc. is producing advanced sensor technologies for the autonomous vehicle industry. GM owns a majority stake in Cruise, a self-driving start-up that has combined its software expertise with GM hardware to create a formidable challenger to Alphabet's Waymo unit. Luminar’s stock is up 40% already since its IPO. Given the choice, which of these automotive businesses would you invest in? Valued at $34 billion, XPeng is nearly three times the cost of Luminar by market capitalization. The company has proven that it can deliver automotive-grade products on time and on budget, over and over. … Start-up carmakers get a lot of hype, but the reality is that the existing big global automakers will be building the majority of tomorrow's self-driving vehicles. Don't get me wrong -- 73% year-over-year sales growth is fan­-tas-tic. Find me on Twitter at @alanohnsman, © 2021 Forbes Media LLC. It's easy to miss, but that's a huge advantage. Luminar Technologies, the automotive lidar company, has completed a merger deal and is now listed as a public company on the Nasdaq under the ticker symbol “LAZR”. Another day, another transportation-related company is going public via a special purpose acquisition company deal. It has been a banner year for stocks of companies that want to disrupt the automotive industry, and Luminar Technologies (NASDAQ:LAZR) is the latest to ride the wave. In May 2020, Luminar signed a multi-year … Luminar is a maker of lidar, a technology that uses pulsed laser beams to measure distances that are used in most self-driving concepts. The Luminar Technologies IPO brings another company that’s promising it’s a part of the future of the auto industry. Two companies that make lidar sensors saw their stocks soar on Monday after Reuters reported on hat Apple is aiming to start production of an Apple-branded car … SPAC Brings Luminar Technologies Stock. Velodyne Lidar and Luminar Technologies have both surged as much as 37% since a report from Reuters on Monday detailed Apple's ambition to compete with … Now, it appears that LiDAR companies are following suit. It was founded in 2012 by CEO Austin Russell. Luminar is a maker of lidar, a technology that uses pulsed laser beams to measure distances that are used in most self-driving concepts. The company went public on Dec. 3 … Believe it or not, even though Luminar is the more recent IPO, XPeng stock is actually the faster-growing stock. Luminar and Gores Metropoulos said the combined company will have an implied pro forma enterprise value of approximately $2.9 billion and an equity value of approximately $3.4 billion at closing. Following in the footsteps of Velodyne Lidar … Gores Metropoulos' Merger With Luminar Is A Play On LIDAR, Mobileye (NASDAQ:LAZR) ASB Capital Nov. 28, 2020 5:18 AM ET Stocks To Watch: IPOs Heat Up As DoorDash, Airbnb, C3.ai And Certara Step Out “This milestone is pivotal not just for us, but also for the larger automotive industry,” Luminar CEO Russell said. The company went public on Dec. 3 through a reverse merger and the stock almost immediately doubled in value. All Rights Reserved, This is a BETA experience. Here's why three Fools believe General Motors (NYSE:GM), Velodyne Lidar (NASDAQ:VLDR), and XPeng (NYSE:XPEV) are better buys today. From Los Angeles, the U.S. capitol of cars and congestion, I try to make sense of technology-driven changes reshaping how we get around. At that time, the company was only a year old and had raised $9 million. Luminar Technologies Inc (NASDAQ: LAZR) is an autonomous vehicle sensor and software company with the vision to make autonomy safe and ubiquitous by delivering the only lidar and associated software that meets the industry’s stringent performance, safety, and economic requirements. Gores Metropoulos (NASDAQ: GMHI) stock is the latest autonomous vehicle (AV) play widely available for investors. Even though lidar is still an emerging technology in autos, Velodyne has already earned that trust. In contrast, Luminar's not expected to be selling its lidar systems at scale until Volvo starts ramping up electric production in 2022. Long story short, even if you think "lidar is the future," XPeng is a better way than Luminar to invest in that future. The SPAC (blank-check company) will soon close on its deal to acquire Luminar… The Motley Fool regrets the prior error. On Monday, Velodyne stock surged 23%. The Palo Alto, California-based company in May won a multiyear agreement to supply its high-tech sensors to Volvo Cars, which will use them as part of an autonomous system for consumer vehicles hitting the market in 2022, one of the earliest commercial production deals for the exotic sensor technology. Read More . Luminar, the manufacturer of high-performance lidar sensors for autonomous vehicles, is about to achieve a major milestone. Argo AI, which is closely affiliated with Ford and counts Volkswagen among its investors, is one of the many companies in the self-driving space that already use and trust Velodyne's lidar sensors. by merging with a SPAC that raises cash and boosts the startup’s market cap to an estimated $3.4 billion. 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