Why Luminar's Mercedes-Benz Deal Is So Significant

John Rosevear, The Motley Fool
·2 min read
Why Luminar's Mercedes-Benz Deal Is So Significant

News that lidar start-up Luminar (NASDAQ: LAZR) has secured a deal with -- and an investment from -- German luxury-car stalwart Mercedes-Benz sent Luminar's stock soaring on Thursday: As of 2:30 p.m. ET, it was up about 17.1% from Wednesday's close. Luminar's intense focus on making automotive-grade units that can be mass-produced at relatively low cost has helped it stand out amid a crowded field of lidar start-ups. Luminar last year announced deals with other automakers, including Volvo and China's SAIC.

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