Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

China's SAIC partners with U.S. lidar maker Luminar on self-driving cars

Published 03/18/2021, 07:50 AM
Updated 03/18/2021, 07:55 AM
© Reuters. FILE PHOTO: SAIC Motor Corp's logos are pictured at its booth during the Auto China 2016 auto show in Beijing

By Paul Lienert

(Reuters) - SAIC Motor Corp, China's largest automaker, said Thursday it plans to begin offering self-driving vehicles in that market in 2022, in partnership with U.S. lidar maker Luminar Technologies.

Laser-based lidar sensors help detect objects ahead of and around the vehicle, and are a key component of many self-driving systems being developed by automakers and suppliers.

California-based Luminar in early March announced a deal with the self-driving software subsidiary of Volvo Cars, owned by China's Geely Automobile Holdings (OTC:GELYF), to offer a combination hardware-software system to other automakers.

Luminar, founded in 2012, is one of several U.S. lidar manufacturers in the past year to go public via reverse mergers with blank-check companies.

SAIC, which is partnered in China with General Motors Co (NYSE:GM) and Volkswagen AG (OTC:VWAGY) (VW), plans to install Luminar's lidar sensors and software next year on its new R brand vehicle line and said it expects to standardize the equipment eventually across all its vehicles in China.

GM and VW are developing self-driving technology separately from SAIC - GM through its majority-owned Cruise subsidiary, VW in part with minority-owned Argo AI.

SAIC is an investor in Chinese lidar startup RoboSense, as well as other tech startups in the United States and China that are working on various aspects of self-driving vehicles.

Initially, SAIC's R line vehicles will have self-driving capability on highways, as well as advanced driver assistance features, the company said. The vehicles also will have the ability over time to upgrade their self-driving capability through over-the-air software updates, the company said.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Luminar earlier inked lidar development deals with Daimler AG (DE:DAIGn)'s truck group and Intel Corp (NASDAQ:INTC)'s Mobileye (F:0ME). Luminar is also slated to supply lidar for Volvo's first self-driving cars in 2022.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.