Polestar and Luminar Expand Partnership to Multiple Vehicles
February 02 2023 - 7:00AM
Business Wire
- New expanded partnership extends scope for future cars
including Polestar 5
- Polestar 3 with Luminar lidar now available to order at
Polestar.com[1]
Polestar (Nasdaq: PSNY) and Luminar (Nasdaq: LAZR) announced
plans to deepen their partnership by expanding the integration of
Luminar’s technology on the Polestar 5 – the electric 4-door GT
expected to launch in 2024 based on the Polestar Precept concept
car. This expanded partnership provides a foundation to further
collaborate on lidar integration and design on Polestar’s future
vehicles.
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“Luminar is at the forefront of lidar technology development and
this closer collaboration will allow for greater innovation in our
cars to come. We look forward to combining our R&D and product
design expertise to deliver truly stunning lidar integration and
capabilities for the Polestar brand,” comments Polestar CEO, Thomas
Ingenlath.
Both the Polestar 3 and Polestar 5 will seamlessly integrate
Luminar’s long-range Iris lidar and software into the roofline.
Coinciding with the announcement, sales of Polestar 3 with lidar
have been brought forward so that customers in initial markets can
now place orders for Polestar 3 with lidar, with deliveries
expected in 2024 [2].
“As we successfully execute together, Polestar’s conviction in
Luminar and the value of our technology has continued to
accelerate. With this new expanded partnership and our shared
pioneering spirit, we will push the boundaries of automotive
technology and design into new territories for the next
generations,” said Austin Russell, Founder and CEO, Luminar.
Notes to editors:
- Orders for Polestar 3 with lidar from Luminar start in European
and North American Polestar markets on 2 February. Orders in
Australia follow slightly later in February, and are planned to
start in China from mid-April. Orders in all other Polestar markets
are expected to start at a later date.
- First deliveries of Polestar 3 with lidar are expected in late
2024. Deliveries of orders for Polestar 3 without lidar, which
opened on the day of the world premiere, 12 October 2022, are
expected from Q4 2023. There is no change to the existing expected
delivery timing on Polestar 3 overall, or the series production
timing of Luminar’s lidar independent of Polestar.
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 our
expectations that Luminar and Polestar will successfully integrate
Luminar lidar into the Polestar 3 and Polestar 5, that such
vehicles will achieve the launch timing predicted, and that doing
so will result in significant vehicle sales. 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 predictions of actual performance.
Forward-looking statements are subject to a number of risks and
uncertainties, including hardware, software, and supply chain
readiness, and positive market reception; changes in market
conditions; or other risks, that could cause actual results to
differ materially from the forward-looking statements including the
risks discussed under the heading “Risk Factors” in the Annual
Report on Form 10-K filed by Luminar on March 1, 2022, and other
documents Luminar files periodically 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/20230202005254/en/
Media Relations: Press@luminartech.com Investor Relations: Trey
Campbell trey.campbell@luminartech.com
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