Luminar Achieves Critical Production Milestone for Volvo Cars Program

$LAZR
Auto Parts:O.E.M.
Consumer Discretionary
Get the next $LAZR alert in real time by email

Luminar successfully passes series production 'Run at Rate' test leading up to Volvo EX90 launch

Luminar Technologies (NASDAQ:LAZR), a leading global automotive company, today announced a significant achievement towards enabling the world's safest and smartest vehicles. The company successfully passed its first major Run at Rate production test for Volvo Cars at its highly automated, high volume manufacturing facility in Monterrey, Mexico. The successful completion of Run at Rate is a key requirement for automakers in advance of start of production (SOP), and the precursor to the launch of the Volvo EX90 featuring Luminar as standard on every vehicle.

The Run at Rate served as a rigorous evaluation that assessed Luminar's ability to manufacture its LiDAR sensors on its highly automated line in Mexico to meet increasingly higher levels of production rates, as well as quality, reliability, and performance requirements. The successful completion of the test for Volvo Cars demonstrates Luminar's ability to achieve scale and underscores the company's commitment to the highest standards of automotive safety.

"Passing Volvo Cars' Run at Rate is a key inflection point for Luminar to drive broad scale adoption of our technology," said Kevin Hinge, EVP of Supply Chain and Manufacturing. "Luminar built a robust, vertically integrated technology and supply chain foundation early on from the semiconductor-level up, which is paying dividends in spades now that it's time for scaled production."

Javier Varela, Volvo Cars' Chief Operating Officer and Deputy CEO, also emphasized the significance of this achievement, stating, "The Volvo EX90 is designed to take Volvo safety to the next level and Luminar's technology is part of making that vision a reality. Luminar has demonstrated clear commitment and results by passing our Run at Rate milestone on the path to taking the technology to customers across the globe."

Earlier this month, the Volvo team also completed the first installation of Luminar's high performance LiDAR onto a Volvo EX90 manufactured at their Charleston plant, marking yet another critical milestone for Luminar in the path to start of production for Volvo Cars.

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/AI platform to enable its more than 50 industry partners, including the majority of global automotive OEMs. From consumer vehicle programs with Volvo Cars and Mercedes-Benz to technology partnerships including NVIDIA and Mobileye, Luminar is poised to be the first automotive technology company to enable next-generation safety and autonomous capabilities for global production vehicles. For more information please visit www.luminartech.com.

Get the next $LAZR alert in real time by email

Chat with this insight

Save time and jump to the most important pieces.

Recent Analyst Ratings for
$LAZR

DatePrice TargetRatingAnalyst
9/10/2024$1.00Hold
Deutsche Bank
4/10/2024$3.50 → $1.20Neutral → Underperform
BofA Securities
1/17/2024$11.00 → $4.00Buy → Hold
Deutsche Bank
9/26/2023$5.00Neutral
BofA Securities
5/10/2023$12.00 → $10.00Outperform
TD Cowen
4/25/2023$12.00Buy
Jefferies
3/22/2023$5.00Neutral → Sell
Goldman
10/25/2022$8.00Neutral
Rosenblatt
More analyst ratings

$LAZR
Press Releases

Fastest customizable press release news feed in the world

See more
  • Luminar Collaborates With Caterpillar on Industrial Autonomous Solution

    Luminar (NASDAQ:LAZR), a leading global automotive technology company, announced a collaboration with Caterpillar Inc. to integrate LiDAR technology into Caterpillar's next generation autonomous solution. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250327605660/en/The Cat® off-highway truck will feature two Iris LiDARs. LiDAR, which stands for Light Detection and Ranging, is critical for navigation and obstacle detection in autonomous machines. LiDAR uses light in the form of a pulsed laser to continuously scan the surrounding environment and provide high-precision measurement of the shape and size of objects nearby. The Lumi

    $LAZR
    Auto Parts:O.E.M.
    Consumer Discretionary
  • Luminar Reports Strong Q4'24 Business Update & Financials

    Q4 Revenue Up 45% QoQ, Exceeding Forecasts; Gross Margin & OpEx Improvements Secured New Contract with Industrial OEM & Luminar Halo Development Contract for Leading Auto OEM Today, Luminar (NASDAQ:LAZR), a leading global automotive technology company, provided its quarterly business update and financial results for the fourth quarter and full year of 2024. These results and related commentary were published in a Presentation available on its Investor Relations website at https://investors.luminartech.com. "This past year represents a culmination of a decade's worth of work with the launch of the Volvo EX90 - the first global production vehicle with leading technologies like Luminar and

    $LAZR
    Auto Parts:O.E.M.
    Consumer Discretionary
  • Luminar Technology Selected on New, Fully Electric Volvo ES90

    The New Volvo ES90 marks the second Volvo car model to feature Luminar's technology, following the successful launch and customer delivery of the Volvo EX90 SUV Luminar (NASDAQ:LAZR), a leading global automotive technology company announced that Luminar's technology will be equipped in the new Volvo ES90, which is slated for production this year. This marks the second Volvo car model to feature Luminar's technology, following the successful launch of the automaker's flagship SUV, the Volvo EX90, which is now being delivered to customers. "We're proud to be selected in conjunction with industry leaders like NVIDIA for a second global automotive launch as Volvo Cars expands its new lineup,"

    $LAZR
    Auto Parts:O.E.M.
    Consumer Discretionary

$LAZR
Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

See more

$LAZR
Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

See more

$LAZR
SEC Filings

See more

$LAZR
Leadership Updates

Live Leadership Updates

See more
  • Luminar Attracts Former Executives From Lyft, Apple and Meta, Microsoft

    Luminar (NASDAQ:LAZR), a leading global automotive technology company, today announced two new key executive hires to help guide the company through its next phase of rapid growth. Dr. David Foster joins Luminar as the Executive Vice President of Engineering. Dr. Foster's extensive experience includes executive and leadership positions at Lyft, Apple, Microsoft, Amazon, and other innovative technology companies. Throughout his career, Dr. Foster has successfully launched groundbreaking products from concept to high volume production – including such iconic devices as the iMac, MacBook, MacPro, Kindle, and Kindle Fire. Dr. Foster holds a BA, MA, and Doctorate in Philosophy in Electrical E

    $LAZR
    Auto Parts:O.E.M.
    Consumer Discretionary
  • Energy Vault Appoints Michael Beer as Chief Financial Officer

    Seasoned financial executive to bring decades of experience in the energy, tech and transportation sectors to leading global energy storage company Energy Vault Holdings, Inc. (NYSE:NRGV) ("Energy Vault" or the "Company"), a leader in sustainable grid-scale energy storage solutions, announced today the appointment of Michael Beer as Chief Financial Officer. Beer will replace Jan Kees van Gaalen, who has served in the role since November 2022 and plans to retire. The appointment is effective April 15, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240404851008/en/Energy Vault Appoints Michael Beer as Chief Financial Offic

    $LAZR
    $NRGV
    Auto Parts:O.E.M.
    Consumer Discretionary
    Industrial Machinery/Components
    Miscellaneous

$LAZR
Financials

Live finance-specific insights

See more
  • Luminar Achieves Critical Production Milestone for Volvo Cars Program

    Luminar successfully passes series production 'Run at Rate' test leading up to Volvo EX90 launch Luminar Technologies (NASDAQ:LAZR), a leading global automotive company, today announced a significant achievement towards enabling the world's safest and smartest vehicles. The company successfully passed its first major Run at Rate production test for Volvo Cars at its highly automated, high volume manufacturing facility in Monterrey, Mexico. The successful completion of Run at Rate is a key requirement for automakers in advance of start of production (SOP), and the precursor to the launch of the Volvo EX90 featuring Luminar as standard on every vehicle. The Run at Rate served as a rigorou

    $LAZR
    Auto Parts:O.E.M.
    Consumer Discretionary

$LAZR
Large Ownership Changes

This live feed shows all institutional transactions in real time.

See more