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Luminar's Deal With Mercedes a 'Major Commercial Win:' Northland

Investing.com
·1-min read

By Sam Boughedda

Investing.com — Luminar Technologies (NASDAQ:LAZR) deal with Mercedes-Benz was a "major commercial win," said Northland Capital Markets analyst Gus Richard.

Luminar is an autonomous vehicle sensor and software company. On Thursday, Luminar announced a partnership with Mercedes-Benz for its lidar technology to be used in Mercedes vehicles.

"Reference designs at NVDA, partnership with Mobileye (F:0ME), first production cars with Lidar in 2022 (Volvo XC90 and SAIC R Brand), and now Mercedes passenger car win it is difficult to dispute that LAZR is the Lidar Leader," Richard said.

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The analyst said further that they now "expect more design wins this year and these early platform wins lock in the company for a long time and provide a first-mover advantage."

While Luminar shares closed 11% higher Thursday on news of the deal, its stock price has given back most of those gains on Friday, currently down 8.4%.

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