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Benzinga

Business

Shivani Kumaresan

Luminar Technologies Partners With ECARX For Advanced Safety Technologies

Luminar LAZR Austin Russell China Luminar Technologies Inc Nasdaq

Luminar Technologies Inc (NASDAQ:LAZR) has partnered with the mobility tech company ECARX to collaborate on automotive grade technologies.
The partnership intends to enable advanced safety and automated driving capabilities in the production of consumer vehicles and commercial trucks.
The arrangement is expected to strengthen Luminar's presence in China and help to deploy its long-range lidar and software in the market.
As part of the collaboration, Luminar will make a strategic stock-based investment in ECARX.
"ECARX has earned an esteemed reputation and strong track record of success in the world's largest auto market, China," said Luminar CEO Austin Russell.
Price Action: LAZR shares are trading higher by 4.52% at $9.61 on the last check Thursday.

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