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Finally, through these technologies, Luminar is enabling a first-of-its-kind safety solution that is being developed with safety experts in the United States, Europe, and Japan. It will be available in the next two years.

“Luminar is the only company with the technology and vision to make the next generation of vehicle safe for everyone on the road,” said Alan Radecki, Luminar’s General Manager and Head of Safety Systems Engineering. “We are honored to have the support of Gores Metropoulos, a leading investor in global technology and automotive, and a world-class team with deep automotive expertise. We will be able to move far more quickly on safety development and deployment with their support and insight.”

Luminar is the first company to have lidar on board at the major automakers who own and sell more vehicles than anyone else. When Proactive Safety is enabled, vehicle safety will vastly improve for everyone on the road. This is why Luminar is leading the industry in the introduction of highway autonomy. Our vision is to enable as many lives as possible to be saved on the road in the next three years. We’re looking forward to continuing this journey with Gores Metropoulos.

Austin Russell, CEO of Luminar, also commented, “We are honored to be partnering with Alec and the team at Gores Metropoulos, a great technology company with deep domain expertise in our space. In addition to the industry leading product set, a strong asset base and partnership network, together with our focus on speed, safety and cost from the chip-level up, this is a transformative opportunity for us and we are confident we will be able to accelerate our transformation from a small startup to a top-tier vendor. The addition of these 16 former DRVLINE members to our Tesla and Mercedes-Benz teams ensure we have the right talent to take us to Level 5 autonomous vehicles as soon as possible.

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An open source platform, API’s, and an industry-leading software stack is our technology foundation. Vehicle OEMs from around the world are racing to build from the ground up in preparation for the implementation of Proactive Safety. Luminar partners with Autosport, Fiat Chrysler and Jaguar Land Rover to advance this critical area of automotive research.

Luminar and Gores are confident about the long term future of a safe, self-driving environment for all, and we look forward to developing an even broader, more flexible, and robust safety system. We are working with partners like ADAS pioneer Autosport to advance this critical area of automotive research.

All of us at Luminar are excited to continue working with this amazing team at Gores who share our goals and vision for the future of transportation. We can’t wait to get started.

At CES 2017, Gores met with Luminar leadership to discuss their vision to make autonomous vehicles safe, ubiquitous, and affordable. With both parties convinced they could work together to create this opportunity, a partnership was formed.

Luminar and Gores met daily to work through the details of the strategic partnership. After nearly two years of planning, the two companies came together to execute the first step of the roadmap that will collectively deliver a highly-integrated, safe, and efficient autonomous vehicle solution based on Luminar technology to Gores Metropoulos Automotive.

Over the next few months, Gores will be working with Luminar to optimize the existing road-going Adaptive Cruise Control (ACC) systems based on Luminar hardware and software, followed by an OEM-led integration program to bring consumers the first safe and affordable autonomous vehicles by the end of 2017.

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What is Luminar Neo good for?

What is Luminar Neo good for?

Luminar will be seeking to raise sufficient capital as part of the transaction to satisfy the completion of the proposed transaction. At such time, upon the completion of the proposed transaction, Gores Metropoulos will own substantially all of the common stock of Luminar. No assurance can be given that the proposed transaction will be completed in the future, or that it will be consummated on the terms and conditions set forth herein or any other proposed conditions.

Information regarding the forward-looking statements, including the factors that may cause actual results to differ materially from those projected, are contained in the filings made by Luminar with the Securities and Exchange Commission. All forward-looking statements in this press release are qualified by these factors and others that are detailed from time to time in Luminars other filings with the Securities and Exchange Commission. Luminars forward-looking statements are based on our current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Important factors that could cause our actual results, performance or achievements to differ materially from those projected in the forward-looking statements include, but are not limited to, the following: (i) our ability to raise capital to fund operations in the future in a timely and cost-effective manner, including the absence of customary private equity financing arrangements and the outcome of potential debt financings; (ii) market demand for our products; (iii) our ability to compete effectively in our market; (iv) our ability to develop and commercialize new products and enhancements; (v) our ability to attract and retain qualified personnel; (vi) our ability to successfully integrate our operations; (vii) the effects of increased competition; (viii) adverse outcomes from litigation; (ix) our ability to protect and defend our intellectual property; (x) changes in the regulatory environment, including in foreign jurisdictions where we have operations and the need for continued approval of our products in such jurisdictions; (xi) risks associated with general economic conditions; (xii) political, legal or other risks that could adversely affect our business and prospects; (xiii) other factors detailed in our filings with the Securities and Exchange Commission.

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Luminar Neo Features

  • Extended road range with an additional 60% of the range of the currently fielded Neo product
  • New beam-steering process for further reducing false positives
  • New camera overlay capabilities including partial-illumination detection
  • Improved aircraft side-scan sensitivity to 3dB
  • Introduction of a new air-quality sensor
  • Further scalability in terms of track points required and sensor installation
  • Three new licenseable camera overlays (tree, traffic and pedestrian)
  • Integration of other sensor functions into the Neo unit without interfering with its core imaging function
  • Redesigned remote unit for battery monitoring and data acquisition
  • Removed the need for recalibration of the remote unit after the initial installation

What’s new in Luminar Neo

What's new in Luminar Neo

  •  Extended the auto-upgrade feature on receivers to all platforms.
  •  Added the ability to replace an existing receiver with a new one.
  •  Added the ability to report rejected RFM40 devices.
  •  Added support for US Cellular, expanding us to nearly half of the USA.
  •  A minor code cleanup.

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