Luminar, Velodyne shares gain as Apple talks with lidar suppliers for Apple Car

Feb. 19, 2021 11:16 AM ETLuminar Technologies, Inc. (LAZR)AAPL, VLDR, LAZRBy: Brandy Betz, SA News Editor37 Comments
  • Apple (NASDAQ:AAPL) is in talks with multiple lidar sensor suppliers for its Apple Car self-driving vehicle project, according to Bloomberg sources.
  • The active talks with a number of suppliers suggest that Apple is mulling its options before selecting a preferred supplier.
  • The sources say Apple is interested in next-generation lidar that would be advanced four to five years from now, a rough indication of the Apple Car's release timeline.
  • Lidar sensors use a form of pulsed laser to measure distances to create precise, 3D information about the environment, a key feature for self-driving vehicles.
  • Apple is also continuing to seek manufacturing and other outsourcing partners after its discussions with Hyundai-Kia were halted.
  • Shares of Luminar Technologies (NASDAQ:LAZR) are up 6.5% and
  • Velodyne Lidar (NASDAQ:VLDR) is up 2.7% on the news.
  • Post updated with additional information.
  • Last weekend, news broke that Apple had held talks with Nissan in recent months, but those manufacturing discussions have since ended.

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