According to a new report, the stock prices of two companies that make lidar sensors ushered in a surge. Among them, Velodyne shares rose nearly 23% on Monday, and Luminar rose more than 27%. Previously, there were media reports that Apple is developing a car that is expected to be launched in 2024.
Lidar is the core component of self-driving cars. It can help the car’s computer take three-dimensional images of the surrounding world. These sensors measure the distance or speed of an object through a process similar to radar. They reflect laser light onto the object. When the light returns, the sensor can calculate the distance of the object and whether the object is moving.
Autonomous car companies such as Alphabet’s Waymo and General Motors (GM)’s Cruise use Lidar extensively in their autonomous driving systems. According to reports, Apple has decided to join forces with some external partners in its autopilot system, including lidar sensors.
However, it is still unclear about Apple’s future lidar suppliers, and it is possible that Apple may finally decide to use its own designed lidar sensors. The new iPhone and iPad are equipped with a lidar sensor designed by Apple in the camera module, but the sensor may need to be modified before it can be used in the vehicle. Apple declined to comment on this matter.
Currently, Apple has tested a self-driving car in California, which is driven by a safety driver. Early versions of this car had a lidar sensor visible to the naked eye on the top, but subsequent versions found on California streets had the sensor hidden inside a housing. Apple also operates a fleet that captures street images for Apple Maps, and these vehicles are also equipped with lidar sensors.
The recent boom around electric vehicles and autonomous vehicles has pushed up the industry’s stock prices. As of Monday’s close, Tesla’s stock has risen 655% so far this year.
Lidar companies also benefited from investor excitement. In September, Velodyne went public through SPAC. At the time, the company stated that its 2019 revenue was US$101.4 million and a net loss of US$67.2 million. In November last year, Velodyne stated that it had sold 2,235 sensors in the most recent quarter, with an average price of $5,600.
Luminar went public through SPAC earlier this month, and its share price has risen 172% since then. It is a small company focused on technology development, with revenue of $12.6 million in 2019 and a loss of $94.7 million.
(Source)
