Luminar Makes a Push into China’s Auto Market with Lidar Technology
A New Era of Automated and Autonomous Driving in China
The world’s largest auto market, China, is racing to put automated and autonomous driving vehicles on the road. Luminar, a Nasdaq-listed lidar maker from Florida, is making a significant push into this lucrative market. By 2028, more than 1 million Luminar-equipped cars will be on the road in China, according to Austin Russell, founder and CEO of Luminar.
A Growing Demand for Smarter Cars in China
China’s enormous car market, with over 500 million drivers, is a coveted place for foreign automakers and suppliers. Much of Tesla’s meteoric rise has been credited to its success in China, which now accounts for more than half of its deliveries and has become a major manufacturing hub for the EV behemoth.
Chinese consumers are also willing to pay for smarter cars. A survey conducted by McKinsey & Company in 2021 found that 60% of Chinese consumers were likely to buy a Level 4 advanced highway pilot for less than $10,000, compared to 57% in the U.S. and only 36% in Germany.
Luminar Teams Up with TPK to Expand Manufacturing Capacity
To meet the growing demand for lidar sensors in Asia, Luminar has teamed up with Taiwan’s TPK, a key touch-screen supplier to Apple and Tesla. The partnership will enable Luminar to build and operate an additional high-volume factory driven by rapidly growing demand for Luminar in Asia.
The new facility, located in Xiamen of China’s southeast Fujian Province, is expected to produce up to 600,000 lidar sensors annually to serve clients such as Mercedes-Benz. The German automaker has signed a multibillion-dollar deal with Luminar to use its lidars in next-gen vehicles.
A Big Part of Luminar’s Sales Will Come from China
China will play a significant role in Luminar’s sales, with the majority of its production vehicle models designed into the Chinese market. In fact, over 20 production vehicle models that Luminar is designed into are slated for the Chinese market.
Volvo Unveils Its All-Electric SUV EX90 Excellence with Luminar Lidars
At Auto Shanghai, Volvo unveiled its all-electric SUV EX90 Excellence, which will come equipped with Luminar’s lidars. The EX90 Excellence will be the first vehicle to hit the streets in China featuring Luminar’s advanced safety capabilities.
Luminar Faces Domestic Competitors in China
However, Luminar faces a host of domestic competitors in China, including Hesai, which just went public in the U.S., RoboSense, which has secured a long-term partnership with Chinese automaker Geely, and other local players.
A New Era of Automated and Autonomous Driving in China
Luminar’s push into China’s auto market marks a significant step forward for automated and autonomous driving in the country. With its advanced lidar technology, Luminar is poised to play a leading role in shaping the future of transportation in China.
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