The new facility is not expected to come online until the second half of 2023, likely reaching its maximum run rate by late 2024. CEO Austin Russell said this is the first time that lidar is evolving from R&D to consumer vehicle deployment.Įarlier in the year, Luminar began preparations for increased production capacity in light of commercial wins and increased volume expectations production capacity at the automated facility is expected to run about 250,000 units annually in addition to production with partner Celestica.
LUMINAR LIDAR COST SERIES
Luminar is finally scaling into series production of its Iris lidar units, with them set to be deployed on China's largest automaker SAIC's Rising Auto 7. Luminar is in the early innings of its growth story, but with its cash balance on high alert with an R&D intensive business, Luminar's stock is unlikely to reach new highs in the $20s for quite some time. Luminar will be outfitting SAIC Motor's Rising Auto R7, AB Volvo's ( OTCPK:VOLAF ) EX90, and Polestar Automotive Holding's ( PSNY ) 3 to start, as well as future Mercedes-Benz, Audi, and Nissan vehicles, to name a few. ( NASDAQ: LAZR) recently announced a major milestone - production beginning ahead of schedule - priming the lidar maker for rapid upcoming growth over the next few years as mass production kicks off.
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