The German automaker is also taking an equity stake in the Orlando, Florida-based company, acquiring a total of 1.5 million shares. Based on Luminar’s share price of $13.45 at market close January 19th, Mercedes-Benz is purchasing approximately $20.2 million worth of shares, or less than 1 percent of the company.
Lidar, a key ingredient in autonomous driving, is a laser sensor that uses near-infrared light to detect the shapes of objects. This helps autonomous vehicles “see” other objects on the road, like cars, pedestrians, and cyclists, all without the help of GPS or a network connection.
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