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MarketScreener Homepage  >  Equities  >  Xetra  >  BMW AG    BMW   DE0005190003

BMW AG

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Luminar to supply lidar sensors for Mobileye's self-driving fleet

11/20/2020 | 09:04am EST
The logo of Israeli technology firm Mobileye is seen on the building hosting their headquarters in Jerusalem

(Reuters) - Luminar Technologies, the self-driving sensor startup that is about to go public, said on Friday that it will supply laser-based lidar sensors to Intel Corp's Mobileye subsidiary for its test fleet of self-driving vehicles.

Mobileye is one of the world's largest suppliers of camera-based sensors used by most top automakers in their advanced driver assistance systems (ADAS), and also is developing high-definition maps for automated vehicles.

Terms of the deal were not disclosed.

Mobileye is also the hub of Intel's initiative to build a multimodal Mobility as a Service (MaaS) business that incorporates different modes of transportation from e-scooters to robotaxis.

Luminar said its lidar will be incorporated into Mobileye's self-driving hardware and software system, which also uses radar and surround-view cameras.

In May, Mobileye acquired Israel startup Moovit, one of the world's leading MaaS providers, and said the service eventually would include self-driving robotaxis.

Mobileye and parent Intel are part of a consortium with BMW, Aptiv and others to develop self-driving systems that the group has said it could sell to other automakers.

Luminar said it has development deals with a number of automakers, with Volvo among the first to use the company's lidar on self-driving vehicles in 2022.

In August, Luminar said it planned to go public through a reverse merger with Gores Metropoulos Inc, a NASDAQ-listed special purpose acquisition company, in a deal valued at $2.9 billion and expected to close this quarter.

Investors in that deal include tech billionaire Peter Thiel, Geely Automobile's Volvo Cars and VectoIQ, the firm that helped Nikola Corp go public through a SPAC, also known as a blank-check firm.

Luminar is one of several lidar makers to pursue reverse mergers with SPACs. Velodyne Lidar went public earlier this year, and more recently Aeva announced a similar plan.

(Reporting by Paul Lienert in Detroit; Editing by Cynthia Osterman)

By Paul Lienert


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AB VOLVO 1.17% 215 Delayed Quote.9.80%
APTIV PLC -0.34% 139.01 Delayed Quote.6.69%
BMW AG 3.11% 72.37 Delayed Quote.-2.80%
GEELY AUTOMOBILE HOLDINGS LIMITED 5.62% 33.8 End-of-day quote.27.55%
INTEL CORPORATION -2.15% 55.44 Delayed Quote.13.73%
LUMINAR TECHNOLOGIES, INC. 10.15% 37.45 Delayed Quote.10.15%
NASDAQ COMP. 0.69% 13635.991758 Delayed Quote.5.08%
NIKOLA CORPORATION 3.08% 20.74 Delayed Quote.35.91%
VELODYNE LIDAR, INC. 1.64% 23.53 Delayed Quote.3.11%
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Financials
Sales 2020 97 692 M 118 B 118 B
Net income 2020 3 548 M 4 302 M 4 302 M
Net cash 2020 16 370 M 19 850 M 19 850 M
P/E ratio 2020 13,0x
Yield 2020 2,57%
Capitalization 45 311 M 54 949 M 54 941 M
EV / Sales 2020 0,30x
EV / Sales 2021 0,27x
Nbr of Employees 133 778
Free-Float 57,3%
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 78,34 €
Last Close Price 70,21 €
Spread / Highest target 72,3%
Spread / Average Target 11,6%
Spread / Lowest Target -14,5%
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NameTitle
Oliver Zipse Chairman-Management Board
Norbert Reithofer Chairman-Supervisory Board
Nicolas Peter Chief Financial Officer
Susanne Klatten Independent Member-Supervisory Board
Manfred Schoch Deputy Chairman-Supervisory Board
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