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Volvo Invests in LIDAR Tech Startup Luminar

As with any self-respecting automaker developing autonomous vehicles, Volvo too has been looking for a suitable startup in this area to become a recipient of a hefty investment.
Volvo already testing autonomous tech with Uber 1 photo
Photo: Uber/Volvo
Earlier this week, Volvo said it selected one of the first such companies, U.S.-based Luminar. The company is in the field of developing advanced sensor technology for use in autonomous vehicles and has attracted the attention of the Swedish manufacturer for some time now.

Volvo did not say how much money it invested in Luminar, but confirmed that it took a stake in the startup.

Volvo and Luminar have been working together already, with the latter hard at work at creating LiDAR technology for testing on various Volvo cars.

LIDAR, an acronym for light detection and ranging, is one of the most important technologies used by autonomous cars. The system works by bouncing pulsed laser light off a target object and measuring the time it takes for the reflected pulses to return. This allows it to more or less accurately measure the distance to a given obstacle.

“Luminar represents exactly the type of company and technology we seek to invest in, providing us with strategic access to new technologies, capabilities, and talent,” said in a statement Zaki Fasihuddin, CEO of Volvo's Tech Fund.

“Supporting promising young firms that are at the forefront of technological development will help us introduce cutting-edge technology that strengthens our leading role in the industry.”

Volvo, as one of the carmakers that first got involved in the development of autonomous vehicles, now researches relevant tech for both in-house and other companies' use, like Uber.  Volvo said said it will continue to look for suitable startups to invest in.

Its fund is searching for innovative ideas in the field of artificial intelligence, electrification, autonomous driving and digital mobility services. For the companies it will invest in, Volvo promises access to the Chinese market, courtesy of its owner Geely.
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About the author: Daniel Patrascu
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Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
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