Investors shouldn’t overlook the key competitive edge that this new deal will give Mercedes-Benz. It also continues the trend of significantly growing our business with existing customers as we execute and build trust with our partners.” The Road Ahead “This expanded Mercedes partnership is a result of the great work the Luminar team has done over the past couple years after our initial win at Mercedes. Luminar CFO Tom Fennimore firmly believes Luminar stands to grow as a result of this development. As InvestorPlace has reported, there’s ample evidence to suggest that Luminar’s lidar is better for on-road safety than competing technology from companies like Tesla (NASDAQ: TSLA). This is also a likely win for the German automaker. Mercedes-Benz has a truly global reach that spans several continents. In a press release published this morning, Luminar described the partnership as a “multi-billion dollar deal” with the potential to “substantially enhance the technical capabilities and safety of conditionally automated driving systems.”įor Luminar, this is a massive step forward, as it will allow the company to demonstrate the power of its tech with an industry-leading name. If anything, this deal will likely boost the shares of both companies. However, investors can attribute that to general market momentum more than the Luminar partnership. Of course, Mercedez-Benz stock has been more volatile throughout the day. Shares closed up by more than 28% for the day. Despite falling in pre-market trading today, LAZR stock has been rising steadily since Wall Street’s opening bell.
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