What’s Going on with Velodyne Lidar?
Velodyne Lidar (VLDR) announced Thursday that it was selected as the sole supplier of lidar sensors for Faraday’s sleek-looking FF 91 EV (electric vehicle). This all-electric vehicle, which is the flagship vehicle of the company, will rely on Velarray H800 lidar sensors, which were designed for “advanced driver assistance systems (ADAS) and autonomous [driving] applications.”
VLDR shares are increasing in pre-market trading today, advancing 2.44% to $14.69 per share.
What Does This Mean for VLDR?
“We are embracing the latest technologies – including Velodyne’s Velarray H800 – to develop driver assistance features that help us deliver new levels of safety, driver comfort and convenience,” Faraday CEO Carsten Breitfeld stated in a company press release.
Faraday Future plans on having the holistically-designed “tech-luxury” FF 91 ready for market in approximately 12 months after finalizing its recent merger with Property Solutions Acquisition Corp. (PSAC), a special purpose acquisition company.
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Velodyne Lidar Inc provides sensor technologies for autonomous vehicles. It provides lidar solutions for autonomous vehicles, driver assistance, delivery solutions, robotics, navigation, and mapping. The product portfolio includes surround sensors, directional sensors, close-range sensors, and other related software.