Today, Luminar is announcing that its new dedicated, highly-automated, high volume manufacturing facility in Mexico is now expected to initially come online in Q2’23, ahead of the prior second-half guidance. Its initial lower-volume facility reached the start of production late last year, and now the company is focused on the next phase of industrialization: increasing automation and expanding capacity to support the large-scale global vehicle launches ahead. Luminar is successfully executing its industrialization plan in conjunction with its automaker partners. New Automated, High-Volume Manufacturing Facility in Mexico Ahead of Guidance The transaction is another example of Luminar executing on its opportunistic M&A strategy, and did not have a material impact to the company’s balance sheet. Luminar acquired lidar-related IP, assets, and welcomed a technical team who will further strengthen its next gen lidar development, automated manufacturing processes, and cost-down initiatives. Seagate is the leading global provider of data storage solutions, with relevant experience in engineering, costing-down, and manufacturing tens of millions of hard drives annually. In January, Luminar acquired Seagate’s lidar program in order to accelerate its future lidar development efforts, beyond Iris+. The indoor, controlled facility was built for the highest automotive test and validation requirements of automotive OEMs for series production and engineered for Luminar’s leading lidar resolution-at-range capability. Today, Iris+ is being demonstrated live at Luminar’s new long-range test and validation facility, which Luminar believes is the largest ranging and validation facility on the planet at over 300 meters long. To support the vast global scale of upcoming vehicle launches with Iris+, Luminar plans to bring online an additional manufacturing facility in Asia with a local partner. Iris+ has already begun shipping to its lead customer, and is currently being industrialized to support series production vehicle launches beginning 2025 and beyond. The new product demonstrates Luminar’s engineering velocity is accelerating. It also features an even slimmer profile for seamless integration into the roofline of production vehicle models. Iris+ furthers the mission for enhanced vehicle safety and autonomous capabilities by enabling even greater performance and collision avoidance of small objects at up to autobahn-level speeds. Luminar is revealing a new Iris+ sensor, which adds to its current product portfolio for new and existing customers. To view the livestream now in progress, go to: Unveiling New Iris+ Sensor 300 Meter Ranging Facility Advancing Next Gen Lidar Roadmap Tune in to hear from the CEOs at Volvo Cars, Daimler Truck, Polestar, Swiss Re, Pony.ai, Scale.ai, and eCARX, as well as executives from Mercedes-Benz and NVIDIA on the partnership and vision. Below is a summary of Luminar Day announcements.
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