Volvo ends relationship with Luminar, removes Lidar from vehicles
a day ago
- #automotive
- #supply-chain
- #lidar
- Volvo ends partnership with Luminar and removes lidar from its EX90 and ES90 models.
- Decision driven by Luminar's failure to meet contractual obligations and supply chain risk concerns.
- Volvo claims its vehicles maintain high safety standards with or without lidar.
- Luminar faces financial struggles, including $429M in debt and $8M net loss in 2024.
- Luminar's founder Austin Russell resigned as CEO in May 2024 amid an ethics inquiry.
- Luminar filed a claim against Volvo for damages, but resolution remains uncertain.
- Company may run out of funds by early 2026 if financial situation doesn't improve.