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01-10-2023 | The Hansen Report

On Automotive Electronics

Author: Paul Hansen

Published in: ATZelektronik | Issue 10/2023

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Excerpt

"Luminar has become the global leader in automotive lidar." That is from a press release announcing the acquisition last May of Forbes Global Media Holdings, parent company of the well-known Forbes business magazine, by "American innovator and automotive tech leader Austin Russell, the founder and CEO of Luminar." The 28-year-old Russell was recognized by Forbes in 2021 as the youngest self-made billionaire. According to the press release, Russell founded the company in 2012 at age 17 after previously working on various photonics and optoelectronics projects as an early teen. He now has a lot more on his plate to worry about than Luminar's dozens of lidar competitors. The firm went public through a SPAC merger on December 3, 2020. Its market cap ballooned spectacularly a few days later to 13.5 billion US dollars, only to fall thereafter. In August 2023, the sensor specialist was valued at 2.58 billion US dollars.
Under the existing partnership, Luminar already supplies lidar for the Polestar 3. The expanded partnership from 2023 also covers future vehicles, including the Polestar 5
© Polestar
…
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Metadata
Title
On Automotive Electronics
Author
Paul Hansen
Publication date
01-10-2023
Publisher
Springer Fachmedien Wiesbaden
Published in
ATZelektronik / Issue 10/2023
Print ISSN: 1862-1791
Electronic ISSN: 2192-8878
DOI
https://doi.org/10.1007/s35658-023-1521-1

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