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".
TESLA LUMINAR SERIES
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.
This story was originally featured on Fortune.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.
Luminar’s continued successes and most recent buyout of Tesla’s VP of legal is showing a lot of promise for Austin Russell.
Russell’s company is backed by billionaire Peter Thiel and has had more than 50 commercial partners on his client roster, including industry giants like Volvo, Toyota, and Intel.Īt the beginning of 2022, Mercedes-Benz announced its partnership with Luminar for its upcoming line of luxury vehicles, acquiring up to 1.5 million Luminar shares as part of the deal. Russell’s Luminar relies on lidar technology, short for “light detection and ranging,” to detect the car’s surrounding environment, while Musk prefers using sensors and cameras for Tesla’s self-driving cars, saying lidar is “freaking stupid…expensive and unnecessary,” according to CNBC.īut it seems like Russell knows what he’s talking about. Prescott was also joined by board member, Katharine Martin who received a compensation package of almost $636,000 comprised of $57,917 in cash and the rest in stock grants that will be paid out over 3 years.Īlthough Tesla is also developing autonomous vehicles, the key difference between the two companies is in the technology they’re using.
Since the lawyer previously worked at high-level positions at companies like Ford and Uber, Luminar says that Prescott’s pay package is fitting for his level of experience and is similar to what he was receiving at Tesla. Prescott received not only $29.5 million in stock awards but also $205,700 in cash and a $50,000 bonus which will be paid out over the course of six years, the company’s 10-K filing revealed. The youngest self-made billionaire onboarded ex-Tesla lawyer Alan Prescott as Luminar’s new chief legal officer, offering a hefty compensation package of almost $30 million dollars, according to Bloomberg.
0 kommentar(er)
