The stock of Luminar Technologies, a self-driving sensor maker, rose sharply on January 20 due to the fact that the company began supplying lidar systems to the multinational automotive concern Daimler. This is one of the divisions of Mercedes-Benz, which receives part of the stake in Luminar. Both major companies said they have begun to cooperate to improve and accelerate the production of automated driving technologies for Mercedes cars. Yesterday, the stock rose by almost 19%. And today it costs $14.96.
The companies did not disclose full information about the deal. But we only know that Daimler will receive 1.5M units of Luminar in a series of tranches over time after performing the agreed actions. The full cost, based on the current price per share, will cost $ 22.5M. Lidar, according to many experts, is considered an important element of driverless-vehicle systems. Luminar Technologies has developed its equipment for several years so that large companies can use them to improve their cars.