Lidar startup Luminar is on a bit of a hot streak. After announcing a major deal with Toyota, the company said it would be slashing costs and scaling up rapidly to meet the growing demand for its laser sensors that help self-driving cars “see” their surroundings. Now Luminar is lifting the curtain back on its next big automotive partner, Volvo Cars.
In addition to buying its lidar units from the startup, Volvo will also be making a “strategic investment” via its newly formed venture capital fund. Neither Volvo nor Luminar would disclose the amount, but Luminar CEO Austin Russell allowed that it was “substantial.”
“This here is a lot more substantial”
“Sometimes we see a lot of companies trying to push out a press release about some…