Benzinga | Mar 18, 2021 07:48AM EDT

Luminar Technologies Announces Partnership With SAIC Motor To Power Autonomous Capabilities And Safety Features In SAIC's R Brand Vehicles; Financial Details Not Disclosed

Luminar Technologies, Inc. ("Luminar") (NASDAQ:LAZR), the global leader in automotive lidar hardware and software technology, today announced a strategic partnership with SAIC Motor Corporation Limited, the largest automaker in China and a Fortune Global 100 company. Luminar is to power the autonomous capabilities and advanced safety features in SAIC's new R brand vehicles for series production with its industry-leading lidar as well as components of its Sentinel software system. The R brand program is expected to begin series production with Luminar starting in 2022, with the parties' longer-term goal being widespread standardization across all vehicle lines.