Lidar's Social Butterflyįrom automakers to contract manufacturers and insurance companies, there is almost no corner of the broader lidar and auto supply chain left untouched by Luminar. Taken together, Luminar continues to reinforce the foundation to its longer-term growth story, with every step in its ongoing consolidation strategy being a pragmatic approach that contributes further to the durability of its fundamental prospects and, inadvertently, valuation upside potential. ![]() And last but not least, Luminar's latest partnership with Plus also reinforces its efforts in expanding lidar applications beyond passenger vehicles, effectively diversifying its TAM to drive greater long-term growth opportunities. The company has even catapulted itself further into the latest AI frenzy by partnering with Scale.ai to further optimize its growing data advantage through "Luminar AI Engine". It has also deepened its series production partnerships with key OEMs during the quarter, while also diversifying its go-to-market strategy through the introduction of "Luminar Insurance". The company has also expanded its strategic contract manufacturing model's global footprint through a new partnership with TPK to accommodate burgeoning market opportunities in China and the broader APAC region. And the company's explosive growth in the first quarter, driven primarily by high-volume start of productions, alongside a slew of additional acquisitions across the supply chain continues to accommodate its ambitions to expand market share not just within the auto industry but also across adjacent verticals, including aerospace and defense.įollowing Luminar's integration of OptoGration, Black Forest Engineering, and Freedom Photonics in recent years - which the company has now amalgamated into "Luminar Semiconductor" - it has proceeded with further consolidation within the industry through the latest acquisition of Seagate's lidar assets, as well as the hiring of engineers from the now shuttered Argo AI's lidar team. As discussed in our previous coverage, Luminar remains a share gainer as consolidation continues to take place across the lidar supply chain. ![]() 2022 marked an inflection point for Luminar's ( NASDAQ: LAZR) business, transitioning from R&D to "high-volume series production" with Chinese automaker SAIC's RISING AUTO R7 EV.
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