SAIC Motor Launches R Manufacturer EV Line Run by Luminar for Series Manufacturing | Countrywide

Freda Walters

PALO ALTO, Calif.–(Small business WIRE)–Mar 18, 2021– Luminar Technologies, Inc. (“Luminar”) (Nasdaq: LAZR), the worldwide leader in automotive lidar components and computer software technology, currently introduced a strategic partnership with SAIC Motor Company Restricted, the biggest automaker in China and a Fortune World wide 100 organization. Luminar is to electricity […]

PALO ALTO, Calif.–(Small business WIRE)–Mar 18, 2021–

Luminar Technologies, Inc. (“Luminar”) (Nasdaq: LAZR), the worldwide leader in automotive lidar components and computer software technology, currently introduced a strategic partnership with SAIC Motor Company Restricted, the biggest automaker in China and a Fortune World wide 100 organization. Luminar is to electricity the autonomous capabilities and superior security functions in SAIC’s new R brand cars for series output with its market-primary lidar as nicely as components of its Sentinel computer software technique. The R brand name method is envisioned to start off collection production with Luminar setting up in 2022, with the parties’ more time-term intention becoming widespread standardization across all vehicle traces.

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(Photo: Small business Wire)

As portion of the close collaboration, Luminar will also be developing an office in China, to be found in Shanghai together with SAIC Motor, where SAIC would also be providing community help for the partnership.

The partnership is envisioned to provide the initial autonomous generation motor vehicles in China, creating SAIC’s technologies leadership posture and Luminar’s manufacturing start in the location. Luminar’s Iris lidar is seamlessly built-in into the roofline of the R manufacturer cars at the exceptional vantage place, even though performing symbolically as a crown of the car for basic safety and autonomy. Specific program elements in Luminar’s Sentinel solution including item detection, classification and monitoring is also planned to be built-in into R brand, supporting to permit prepared Freeway Autonomy and Proactive Safety capabilities on the autos.

“SAIC has grown to establish by itself as the biggest automaker in the world’s most significant automotive market and has no intent of slowing down when it will come to electric powered and autonomous vehicles,” said Austin Russell, Founder and CEO of Luminar. “Instead, they are clearly leading the charge to set a new technology standard for both China and the field at massive. Luminar’s components and software package is uniquely able to make SAIC’s eyesight a reality at sequence output scale.”

“Our new R brand name line of cars will incorporate the finest know-how with luxury and comfort, and autonomous capabilities are central to that eyesight,” reported Yang Xiaodong, Vice President of SAIC Motor Company Constrained. “The only autonomous car organization we very seriously regarded was Luminar – they are in a league of their own in lidar know-how and computer software, uniquely enabling us to reach our vision in sequence output.”

Luminar engineers will operate carefully with SAIC Motor engineers to integrate components and software package know-how into its automobiles and fully improve their performance and abilities, which will also integrate around-the-air updates to broaden the functioning domain of autonomy and more increase the security of vehicles over time.

About Luminar Technologies

Luminar is an autonomous automobile sensor and program enterprise with the eyesight to make autonomy secure and ubiquitous by delivering the only lidar and linked application that meets the industry’s stringent overall performance, security, and financial requirements. Luminar has fast attained about 50 market associates, including 7 of the leading 10 worldwide automakers. Before this yr, Luminar signed the industry’s very first generation offer for autonomous buyer motor vehicles with Volvo Vehicles, even though also not long ago hanging deals with SAIC, Daimler Truck AG and Intel’s Mobileye. Luminar has also obtained minority investments from the world’s premier business auto maker, Daimler Truck AG, and Volvo Autos, a world-wide chief in automotive basic safety, to accelerate the introduction of autonomous vehicles and automobiles at freeway velocity. Founded in 2012, Luminar is a practically 400-particular person team with offices in Palo Alto, Orlando, Colorado Springs, Detroit, and Munich. For additional facts be sure to go to www.luminartech.com.

About SAIC

SAIC Motor’s companies and goods are at the moment available in more than 60 nations around the world and areas, and it has recognized nearly 810 overseas internet marketing assistance offices and produced nine significant-scale abroad markets. Above the upcoming 5 a long time, SAIC Motor aims to turn out to be the fifth biggest carmaker in the earth, two places greater than its present ranking, and develop an car team value 1 trillion yuan with worldwide competitiveness and impact.

Forward Wanting Statements

Particular statements involved in this push launch that are not historical points are ahead-seeking statements for reasons of the safe and sound harbor provisions below the Private Securities Litigation Reform Act of 1995. Ahead-seeking statements commonly are accompanied by words and phrases these types of as “think,” “may well,” “will,” “estimate,” “continue on,” “foresee,” “intend,” “be expecting,” “ought to,” “would,” “prepare,” “predict,” “prospective,” “look,” “seek out,” “upcoming,” “outlook,” and related expressions that forecast or indicate long term events or traits or that are not statements of historic issues. These ahead-looking statements incorporate, but are not restricted to, statements relating to the partnership among Luminar and SAIC under the conditions of the MOU and the shipping of lidar components and autonomous application for series output vehicles and Luminar’s planned functions in China. These statements are primarily based on different assumptions, no matter if or not recognized in this push release, and on the existing anticipations of Lumina’s management and are not predictions of real general performance. Ahead-looking statements are topic to a quantity of pitfalls and uncertainties that could induce true success to vary materially from the forward-looking statements, including but not minimal to the potential of Luminar and SAIC to enter into definitive documentation for the partnership and the conditions of any such definitive documentation the failure to comprehend the predicted added benefits of the MOU or any definitive arrangement Luminar’s capacity to expand operations in China Luminar’s limited running background Luminar’s incapacity to reduce and control the value of the inputs on which Luminar relies Luminar’s skill to changeover to an outsourced production organization design the good results of Luminar’s prospects in acquiring and commercializing products and solutions working with Luminar’s methods Luminar’s capacity to defend its intellectual home legal rights regardless of whether Luminar’s lidar solutions are chosen for inclusion in autonomous driving or ADAS programs by automotive OEMs or their suppliers adjustments in personnel and availability of certified staff the sum and timing of long term income no matter if the complexity of Luminar’s products and solutions outcomes in undetected defects and trustworthiness concerns which could decrease sector adoption of its new items, destruction its name and expose Luminar to product or service legal responsibility and other claims strict governing administration regulation that is subject matter to amendment, repeal or new interpretation and Luminar’s skill to comply with modified or new legislation and laws implementing to its business enterprise common financial uncertainty and the result of general economic disorders on Luminar’s marketplace in distinct, which includes the amount of demand from customers and economic efficiency of the autonomous vehicle business and market adoption of lidar the results of the ongoing coronavirus (COVID-19) pandemic or other infectious conditions, wellness epidemics, pandemics and pure disasters on Luminar’s business and the other threats discussed below the heading “Threat Aspects” in the registration assertion on Variety S-1/A submitted by Luminar on January 29, 2021 and other files Luminar documents with the SEC in the potential. If any of these risks materialize or our assumptions verify incorrect, precise success could vary materially from the success implied by these forward-wanting statements. You are cautioned not to location undue reliance upon any forward-seeking statements, which communicate only as of the date designed and Luminar undertakes no obligation to update any ahead-wanting statement to reflect activities or conditions right after the day of this press release.

Perspective resource variation on businesswire.com:https://www.businesswire.com/news/home/20210318005471/en/

Speak to: Media

Nicole Phelan

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Key word: UNITED STATES NORTH The usa CALIFORNIA

Sector Search term: Components Standard AUTOMOTIVE Technological know-how AUTOMOTIVE Software package

Resource: Luminar Technologies, Inc.

Copyright Business Wire 2021.

PUB: 03/18/2021 07:45 AM/DISC: 03/18/2021 07:45 AM

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