Mercedes-Benz closed a new massive deal with Luminar. The giant automaker is now expected to produce safer and more efficient autonomous vehicles thanks to their collaboration.  

The car manufacturer is expected to do this using Luminar's Iris liDAR technology. However, the company's light detection and the ranging product is still prepared for a series of productions. 

"This partnership is a landmark moment in the industry, demonstrating how substantially increased safety and autonomous driving functions on consumer vehicles are going from sci-fi to mainstream," said Austin Russell, Luminar's founder and CEO, via the company's official press release. 

Mercedes-Benz, Luminar Collaboration

According to Tech Crunch's latest report, the latest deal of the two giant companies will allow Mercedes-Benz to acquire around 1.5 million Luminar shares. 

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Thanks to this, Luminar's shares are now trading more than 17.7% higher. Once Mercedes-Benz uses the Iris LiDAR tech for its next-gen passenger cars, the vehicle developer is expected to share certain data from the cars' productions and developments. 

This will allow Luminar to use the acquired information to enhance its LIDAR technology further. Aside from Mercedes-Benz, the global automotive tech firm also have other partnerships. 

These include a deal with Volvo cars, allowing Volvo to use its LiDAR tech for its upcoming flagship electric SUV models.  

How LiDAR Can Help Make Safer Autonomous Cars

LiDAR technology is now being used in various innovations. One of these is the advanced iPhone 12, allowing the smartphone to offer better VR or AR output. 

For those who don't have any idea about LiDAR, it is a remote sensing method that can allow experts to examine the surface of the Earth efficiently. 

If it is integrated into an autonomous system of a car, the vehicle has a more efficient detecting capability, allowing it to avoid obstacles. 

Ford and ADT also collaborated to create the new car accessory called Canopy in other news. Meanwhile, BMW M760i is expected to be the last V12 production vehicle. 

For more news updates about the collaboration of Mercedes-Benz and Luminar, as well as other related stories, always keep your tabs open here at TechTimes. 

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Written by: Griffin Davis