The company has also been securing its supply chain, announcing that it would acquire OptoGration, a company that designs and manufactures crucial InGaAs photodetector chips that go into Luminar’s mass-market Iris sensors. The company is also making progress with its commercialization plans, as it began producing sample versions of lidar sensors at a contract manufacturing facility in Monterrey, Mexico, with mass production likely to begin by the end of 2022.
Luminar has production program partnerships with OEMs including Volvo, Daimler Trucks, and China’s largest auto company SAIC SAIC besides holding another 14 opportunities at advanced stages. Automakers are pivoting at a faster than expected pace to electric vehicles, and self-driving technology, which is increasingly viewed as a default feature in premium EVs, should stand to gain traction. Although valuing Luminar stock is somewhat tricky, given that it hasn’t started commercial operations yet, we think the risk-to-reward prospects are looking better following the big sell-off.
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