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Luminar to supply lidar sensors for Mobileye’s self-driving fleet

Luminar to supply lidar sensors for Mobileye's self-driving fleet

FILE PHOTO: The logo of Israeli technology firm Mobileye is seen on the building hosting their headquarters in Jerusalem, May 15, 2018. REUTERS/Ronen Zvulun

(Reuters) – Luminar Technologies, the self-driving sensor startup that is about to go public, said on Friday that it will supply laser-based lidar sensors to Intel Corp’s INTC.O Mobileye subsidiary for its test fleet of self-driving vehicles.

Mobileye is one of the world’s largest suppliers of camera-based sensors used by most top automakers in their advanced driver assistance systems (ADAS), and also is developing high-definition maps for automated vehicles.

Terms of the deal were not disclosed.

Mobileye is also the hub of Intel’s initiative to build a multimodal Mobility as a Service (MaaS) business that incorporates different modes of transportation from e-scooters to robotaxis.

Luminar said its lidar will be incorporated into Mobileye’s self-driving hardware and software system, which also uses radar and surround-view cameras.

In May, Mobileye acquired Israel startup Moovit, one of the world’s leading MaaS providers, and said the service eventually would include self-driving robotaxis.

Mobileye and parent Intel are part of a consortium with BMW BMWG.DE, Aptiv APTV.N and others to develop self-driving systems that the group has said it could sell to other automakers.

Luminar said it has development deals with a number of automakers, with Volvo among the first to use the company’s lidar on self-driving vehicles in 2022.

In August, Luminar said it planned to go public through a reverse merger with Gores Metropoulos Inc GMHIU.O, a NASDAQ-listed special purpose acquisition company, in a deal valued at $2.9 billion and expected to close this quarter. [GMHIU.O]

Investors in that deal include tech billionaire Peter Thiel, Geely Automobile’s 0175.HK Volvo Cars and VectoIQ, the firm that helped Nikola Corp NKLA.O go public through a SPAC, also known as a blank-check firm.

Luminar is one of several lidar makers to pursue reverse mergers with SPACs. Velodyne Lidar VLDR.O went public earlier this year, and more recently Aeva announced a similar plan.

Source: www.reuters.com

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