The company is also making progress with its production plans for its low-cost, mass-market Iris sensors, noting back in August that it had secured more than 85% of its series production supply chain. Luminar’s tech will also be standard on Volvo’s next-generation electric SUV. Luminar might be well-positioned in this market, given that it has production program partnerships with OEMs including Volvo, Daimler Trucks, and China’s largest auto company SAIC.
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Luminar projects that the total addressable market for its sensor and software solutions will stand at about $150 billion by 2030. The automotive industry is pivoting at a faster than expected pace to electric vehicles due to mounting environmental concerns, and self-driving technology, which is increasingly viewed as a default feature in premium EVs, should stand to gain traction.
stock market and the mid-August public listing of AEye, another lidar player, which gives investors yet another option to gain exposure to the lidar market.Īlthough valuing a stock like Luminar is difficult, given that it hasn’t started meaningful commercial operations just yet, we think the risk-to-reward prospects are looking better at current levels. While the sell-off this year comes as investors have been rotating away from high-growth, futuristic stocks, such as Luminar, into cyclical stocks to play the post-Covid re-opening, the recent decline is likely due to a broader selloff in the U.S. The stock also remains down by about 47% year-to-date. Luminar (NASDAQ:LAZR), a company that develops lidar sensors for use in self-driving cars, has seen its stock decline by about 6% over the last week, trading at $16.50 per share.
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