Luminar Achieves New Wins; Expands Roadmap at CES
January 04 2023 - 5:00PM
Business Wire
- Luminar signed new series production deals for multiple vehicle
models with automakers in Dec., exceeding targets
- Hosting the North American debut of Luminar-equipped consumer
vehicles from Volvo Cars and SAIC’s Rising Auto
- Acquired Silicon Valley-based Civil Maps; launching new HD 3D
mapping software platform as part of Sentinel
- Successfully achieved all 4 company-level 2022 milestones by
year-end
Today Luminar (Nasdaq: LAZR), a leading global automotive
technology company, announced more commercial momentum at the end
of 2022 than anticipated with additional production wins for
multiple consumer vehicle models with leading automakers. At CES
this week, Luminar will host the North American debut of the Volvo
EX90, as well as the SAIC Rising Auto R7, and unveil its new
software-based mapping product developed last year following the
acquisition of Civil Maps. Luminar will also unveil an updated
brand and vision for consumer-facing audiences in preparation for
its launch on additional consumer vehicles.
“2022 marked an inflection point for Luminar, as the first of
its kind to move from R&D to production vehicles,” said Austin
Russell, Founder and CEO of Luminar. “Our big bet on production
consumer vehicles and enhancing, not replacing, the driver is
starting to pay off big time. I expect Luminar to make a sweeping
impact in 2023 as the automotive industry continues to converge
with our roadmap.”
New Major Commercial Wins Amidst Strong Execution
Luminar secured new major commercial program wins for multiple
consumer vehicle models with automotive OEMs in the fourth quarter
to bring its technology to significantly more cars globally
starting in 2025. The commercial success exceeded Luminar’s goal of
60 percent year-over-year growth in total program wins and exceeded
its target of 60 percent year-over-year forward-looking orderbook
growth, both major milestones for the company in 2022. This caps
off the remaining two of Luminar’s 4 key company level 2022
milestones, with the other two already achieved by Luminar
including start of production (SOP) and the beta milestone for its
Sentinel software suite, which is being demonstrated to the public
at CES. Further details on the milestones and wins will be provided
at Luminar Day on February 28.
Volvo Cars’ latest vehicle, the Volvo EX90, is making its North
American debut at CES and is featured in Luminar’s West Hall booth
#5324. The Volvo EX90 features Luminar as standard on every vehicle
with the Iris lidar seamlessly integrated into the roofline,
marking a pivotal moment for the future of safety as well as
assisted and autonomous driving in the automotive industry. The
all-electric SUV opened for pre-order on November 9 and will begin
production in South Carolina later this year.
SAIC, China’s largest automaker, will have its Rising Auto R7
with Luminar visible in North America for the first time at
Luminar’s CES press conference, after starting production in China
last October. This marks the first time consumers can purchase a
vehicle from a major automaker with the necessary hardware to
unlock advanced safety features and highway autonomy.
Expanding Software with 3D Maps
In the second quarter of 2022 Luminar acquired Civil Maps, a
pioneer and leader in lidar mapping for automotive. Civil Maps
provides the foundational technology to build automatically
updating high definition 3D maps from production vehicles powered
by Luminar. These 3D maps are imperative for the next generation of
assisted and autonomous driving technologies, as well as improving
vehicle safety by enabling a more accurate understanding of the
surrounding environment. At CES, Luminar will demonstrate its new
high definition (HD) 3D mapping technology platform it developed
throughout the past year live to attendees from Luminar-equipped
vehicles roaming throughout Las Vegas. Luminar has also
successfully signed on its first mapping customer, which will
leverage the data provided to further improve its AI engine and
Luminar’s perception software.
Luminar also continues to advance its holistic Sentinel software
stack for consumer vehicles, which is being demonstrated in live
drives to attendees throughout CES. This includes Luminar’s
lidar-based Proactive Safety™ hardware/software solution, which
will showcase new and even more challenging scenarios including
coming to a safe stop for small objects on the road ahead, beyond
just pedestrians and vehicles that have previously been
demonstrated. Luminar will also be showcasing its lidar-based
Highway Automation software, in addition to other software
solutions being deployed with automakers as part of its Sentinel
software suite.
Transforming the Business and Brand
Today, Luminar also revealed a new company brand strategy and
evolution of its logo at CES, in light of accelerating consumer
visibility of Luminar and new consumer vehicle launches ahead with
the technology.
“The paradigm shift taking place in automotive is defined by a
change in focus from horsepower to brainpower; from luxury to
technology. Luminar is at the forefront of this transformation, and
consumers are seeking out the brands that offer the most advanced
technologies with companies they can trust,” said Russell.
About Luminar
Luminar is a global automotive technology company ushering in a
new era of vehicle safety and autonomy. For the past decade,
Luminar has built an advanced hardware and software platform to
enable its more than 50 industry partners, including the majority
of global automotive OEMs. From Volvo Cars and Mercedes-Benz for
consumer vehicles and Daimler Trucks for commercial trucks, to tech
partners NVIDIA and Intel’s Mobileye, Luminar is poised to be the
first automotive technology company to enable next-generation
safety and autonomous capabilities for production vehicles. For
more information please visit www.luminartech.com.
Forward-Looking Statements
Certain statements included in this press release that are not
historical facts are forward-looking statements for purposes of the
safe harbor provisions under the Private Securities Litigation
Reform Act of 1995. Forward-looking statements generally are
accompanied by words such as “aims,” “believe,” “may,” “will,”
“estimate,” “set,” “continue,” “towards,” “anticipate,” “intend,”
“expect,” “should,” “would,” “forward,” and similar expressions
that predict or indicate future events or trends or that are not
statements of historical matters. These forward-looking statements
include, but are not limited to, statements regarding the continued
achievement and timing of series production for Iris lidar and
development of critical software, the expected timing and impact of
manufacturing facilities, the expected growth of Luminar’s
commercial programs and forward-looking order book, and the
automakers will successfully bring vehicles to market with Luminar
lidars and software. These statements are based on various
assumptions, whether or not identified in this press release, and
on the current expectations of Luminar's management and are not
guarantees of actual performance. Forward-looking statements are
subject to a number of risks and uncertainties that could cause
actual results to differ materially from the forward-looking
statements, including the risks discussed in the “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” sections of Luminar’s most recently filed
periodic reports on Form 10-K and Form 10-Q, and other documents
Luminar files with the SEC in the future. You are cautioned not to
place undue reliance upon any forward-looking statements, which
speak only as of the date made, and Luminar undertakes no
obligation to update any forward-looking statement to reflect
events or circumstances after the date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20230104005353/en/
Media Relations: Press@luminartech.com
Investor Relations: Trey Campbell
trey.campbell@luminartech.com
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