SAIC Motor Launches Luminar-Powered R-Model EV Line For Collection Manufacturing

PALO ALTO, Calif .– (BUSINESS WIRE) – Luminar Applied sciences, Inc. (“Luminar”) (Nasdaq: LAZR), the worldwide chief in automotive lidar {hardware} and software program know-how, right now introduced a strategic partnership with SAIC Motor Company Restricted, the biggest automotive producer in China and Fortune International 100 firm. Luminar is to energy the autonomous capabilities and superior security capabilities of SAIC’s new R-brand automobiles for collection manufacturing with its industry-leading lidar in addition to parts of its Sentinel software program system. The R-brand program is anticipated to start collection manufacturing with Luminar from 2022, with the events’ long-term objective of widespread standardization throughout all car traces.

As a part of this shut collaboration, Luminar can even open an workplace in China, which might be positioned in Shanghai alongside SAIC Motor, the place SAIC would additionally present native help to the partnership.

The partnership is anticipated to ship the primary autonomous manufacturing automobiles to China, establishing SAIC’s technological management place and launching Luminar manufacturing within the area. Luminar’s Iris lidar is completely built-in into the roofline of R-brand automobiles on the optimum perspective, whereas symbolically performing as a crown of the car for security and vary. Sure software program parts of Luminar’s Sentinel answer, together with object detection, classification and monitoring, are additionally anticipated to be built-in with the R mark, thus serving to to activate the street autonomy and proactive security capabilities supplied on automobiles.

“SAIC has grown to ascertain itself as the biggest automaker on this planet’s largest vehicle market and has no intention of slowing down in relation to electrical and autonomous automobiles,” mentioned Austin Russell, founder and CEO of Luminar. “As a substitute, they’re clearly main the cost to set a brand new technological customary for China and the {industry} as a complete. Luminar’s {hardware} and software program are uniquely able to making SAIC’s imaginative and prescient a actuality on the mass manufacturing scale. ”

“Our new line of R model automobiles will mix the very best know-how with luxurious and luxury, and autonomous capabilities are on the coronary heart of this imaginative and prescient,” mentioned Yang Xiaodong, vp of SAIC Motor Company Restricted. “The one autonomous car firm we significantly thought of was Luminar – they’re in a league of their very own in relation to lidar know-how and software program, which permits us to understand our imaginative and prescient of mass manufacturing.”

Luminar engineers will work carefully with SAIC Motor engineers to combine {hardware} and software program know-how into its automobiles and absolutely optimize their efficiency and capabilities, which can even incorporate dwell updates to broaden the scope of operation of the car. autonomy and additional enhance car security. additional time.

About Luminar Applied sciences

Luminar is an autonomous car sensors and software program firm whose imaginative and prescient is to make vary secure and ubiquitous by offering the one lidar and related software program that meets the stringent efficiency, security and financial system necessities of the {industry}. Luminar shortly gained greater than 50 industrial companions, together with 7 of the ten largest world automotive producers. Earlier this 12 months, Luminar signed the {industry}’s first manufacturing settlement for autonomous client automobiles with Volvo Automobiles, whereas lately getting into into agreements with SAIC, Daimler Truck AG and Intel’s Mobileye. Luminar has additionally obtained minority investments from the world’s largest business car producer, Daimler Truck AG, and Volvo Automobiles, a worldwide chief in automotive security, to speed up the introduction of high-speed self-driving vans and automobiles. . Based in 2012, Luminar is a workforce of practically 400 folks with places of work in Palo Alto, Orlando, Colorado Springs, Detroit and Munich. For extra data, please go to www.luminartech.com.

About SAIC

SAIC Motor’s providers and merchandise are presently accessible in additional than 60 nations and areas, and it has established practically 810 abroad advertising service places of work and developed 9 large-scale abroad markets. Over the subsequent 5 years, SAIC Motor goals to change into the world’s fifth largest automaker, two locations above its present rating, and construct a 1 trillion yuan price of automotive group with competitiveness and affect. worldwide.

Ahead-looking statements

Sure statements included on this press launch that aren’t historic information are forward-looking statements for the needs of the secure harbor provisions of the Non-public Securities Litigation Reform Act of 1995. Ahead-looking statements are usually accompanied by phrases akin to ” imagine “, can,” “will”, “estimate”, “proceed”, “anticipate”, “intend”, “anticipate”, “ought to”, “would”, “plan”, “predict” , “potential”, “seem”, “search”, “future”, “outlook” and comparable expressions which predict or point out future occasions or tendencies or which aren’t statements of historic topics. These forward-looking statements embody, however with out limitation, statements regarding the partnership between Luminar and SAIC below the phrases of the MOU and the supply of lidar {hardware} and autonomous software program for mass manufacturing automobiles and Luminar’s deliberate operations in China . These statements are based mostly on varied assumptions, whether or not or not recognized on this press launch, and on the present expectations of Lumina’s administration and will not be forecasts of precise efficiency. Ahead-looking statements are topic to quite a few dangers and uncertainties that might trigger precise outcomes to vary materially from forward-looking statements, together with, however not restricted to, Luminar and SAIC’s capacity to enter into documentation. ultimate for the partnership and the situations of any such ultimate documentation; failure to understand the anticipated advantages of the MOU or any ultimate settlement; Luminar’s capacity to broaden its operations in China; Luminar’s restricted working historical past; Luminar’s lack of ability to scale back and management the price of the inputs on which Luminar depends; Luminar’s capacity to maneuver to an outsourced manufacturing enterprise mannequin; the success of Luminar clients within the growth and commercialization of merchandise utilizing Luminar options; Luminar’s capacity to guard its mental property rights; whether or not Luminar’s lidar merchandise are chosen for inclusion in autonomous driving programs or ADAS by automotive OEMs or their suppliers; personnel adjustments and the supply of certified personnel; the quantity and timing of future gross sales; if the complexity of Luminar merchandise ends in undetected defects and reliability points that might cut back the adoption of its new merchandise out there, harm its status and expose Luminar to product legal responsibility and different claims ; stringent authorities laws topic to alter, repeal or reinterpretation and Luminar’s capacity to adjust to modified or new legal guidelines and laws that apply to its enterprise; common financial uncertainty and the impact of common financial situations on the Luminar {industry} particularly, together with the extent of demand and monetary efficiency of the autonomous car {industry} and the adoption of lidar out there; the results of the coronavirus pandemic (COVID-19) or different infectious illnesses, well being epidemics, pandemics and pure disasters on Luminar’s enterprise; and different dangers mentioned below “Threat Elements” within the registration assertion on Kind S-1 / A filed by Luminar on January 29, 2021 and different paperwork that Luminar will file with the SEC sooner or later. If any of those dangers materialize or if our assumptions show to be incorrect, precise outcomes may differ materially from the outcomes implied by these forward-looking statements. You’re cautioned to not place undue reliance on any forward-looking statements, which communicate solely as of the date of publication and Luminar makes no dedication to replace any forward-looking statements to mirror occasions or circumstances after the date of publication. this press launch.

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