![]() ![]() ![]() The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. ![]() On the date of publication, Samuel O’Brient did not hold (either directly or indirectly) any positions in the securities mentioned in this article. They demonstrate that the company is focused on growth and is doing what it takes to garner a bigger share of a booming market. However, steps like this are exactly what investors should want to see. LAZR stock is still recovering from a difficult year, during which it has shed more than 50% of its value. If this pays out, and there’s no reason to suspect that it won’t, LAZR stock could skyrocket in the coming months. The company is betting big on the future of automated work as a means of streamlining production in attempt to meet the projected growing demand for lidar technology. According to Luminar’s statement, it will have the capacity to produce as many as 250,000 sensors per year, a number that could ultimately be expanded to 500,000 per year. Luminar’s new facility is operated by Celestica, its manufacturing partner. This enables an increase in capacity by well over an order of magnitude as compared to our existing, manual line to meet our growing automaker requirements on volume.” The Road Ahead The successful bring-up of the automated factory is a major milestone and continues to show we can execute. Already a subscriber Log in to keep reading or access. “Industrialization is the fundamental challenge to enable and scale with our high volume series production wins. AI-powered legal analytics, workflow tools and premium legal & business news. In a statement released by Luminar, CEO Austin Russell laid out what this new facility will mean, stating: Luminar, a company that develops lidar sensors for use in self-driving cars, has seen its stock decline by over 40 year-to-date and currently trades at levels of about 18 per share. Luminar executives and other industry experts will discuss the company’s vision, execution, and the industry’s shift towards next-generation safety and autonomy. Now the company is better positioned to continue expanding its market share. Elon Musk has publicly criticized lidar technology but as InvestorPlace has reported, there is ample evidence to suggest that Luminar has the technology to help other automakers overtake Tesla (NASDAQ: TSLA) in the driverless race. In the past year, it has announced deals with auto industry giants such as Volvo (OTCMKTS: VLVLY) and Mercedez-Benz (OTCMKTS: MBGYY ). Luminar has a global reach that spans the United States, Mexico and Thailand. That’s not to say that LAZR didn’t already have plenty to offer. And this recent factory update gives investors more reason to bet on it than ever. However, the latter is up almost 2% for the week after displaying some growth yesterday. Fellow lidar producers such as Innoviz Technologies (NASDAQ: INVZ) and Aeva Technologies (NYSE: AEVA) are both deeper into the red today than Luminar. Part of this is due to general negative market momentum. As of this writing, it is down just 0.17% for the day after making numerous attempts to rally. While LAZR stock hasn’t pulled into the green today, it has tried hard to come close. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |