Luminar Day

A New Era – Luminar Achieves Global Start of Production for Volvo Cars

Luminar (Nasdaq: LAZR), a leading global automotive technology company, is hosting Luminar Day: A New Era via a live webcast at www.luminartech.com/luminarday from its new Silicon Valley facility. The company announced that it has achieved start of production for Volvo Cars and begun delivering production LiDAR sensors for the Volvo EX90, which will be the first global production vehicle to feature and standardize this technology. As a result, Luminar now expects to ship multiple times more product in the second half of 2024 than it has in the prior 10 years and accelerating from there. The company also announced the launch of its next-generation LiDAR sensor for the mass market, Luminar Halo, safety test results from Swiss Re, a new partnership with Applied Intuition, and an expanded collaboration with TPK where they will provide substantial industrialization resources to Luminar to improve cost and efficiency.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240423096714/en/

Luminar Halo LiDAR sensor (Photo: Business Wire)

“The past 10 years of Luminar have all been leading up to this historic moment, and proving what many thought would never be possible. We’ve officially launched in mass production for the first global consumer vehicle with LiDAR, and as standard equipment,” said Austin Russell, Founder and CEO. “Volvo is known for being the first to introduce and drive standardization of safety-focused inventions, all the way from seatbelts to Mobileye systems, and today is no exception. We expect this to kick off a domino effect of dozens of awarded commercial program launches with Luminar, drive economies of scale up and cost down, and unlock mass consumer visibility.”

Luminar Achieves Start of Production for Volvo Cars

Upon passing two key Run at Rate industrialization milestones for Volvo Cars in rapid succession, Luminar has taken its next step in demonstrating its ability to produce high-quality, automotive grade LiDAR sensors at scale and has begun shipping sensors to Volvo Cars ahead of the start of production for the Volvo EX90. The Volvo EX90 will be the world’s first global consumer vehicle to standardize this technology.

Luminar Halo: Next-Generation LiDAR for Mainstream Production

The company unveils its next-generation LiDAR product, Luminar Halo, being designed for mass adoption by mainstream consumer vehicles. Building off Luminar’s high-performance 1550nm architecture, Luminar Halo will incorporate four next-generation breakthrough chip technologies from Luminar Semiconductor Inc, enabling a 4x improvement in performance, a 3x reduction in size, 2x improvement in thermal efficiency, and more than 2x improvement in cost. Luminar Halo is also expected to provide backwards system compatibility to existing customers of its current generation sensor family, Iris. It also will boast a sleeker integration profile, seamlessly blending into the roofline of a car or behind the windshield and is expected to be under 1 inch in height, under 1 kilogram in weight, and use approximately 10 watts of power consumption. The Luminar Iris family of LiDAR was designed to kick off a new global industry for safety and autonomy on premium vehicles, whereas Luminar Halo is designed to focus more on rapidly scaling our vision to mainstream consumer vehicles, and to fulfill our mission to democratize next-generation safety.