Luminar Technologies ($LAZR) to Begin Production at New Automated Manufacturing Facility in 2023
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April 14, 2023 – TheNewswire - Luminar Technologies (NASDAQ: LAZR), a global leader in LiDAR technology, has announced the successful construction and activation of a new high-volume manufacturing facility in Monterrey, Mexico. The facility will be operated by Celestica, a company specializing in manufacturing and supply chain solutions. The facility will have initial capacity for up to 250,000 sensors per year, expandable to approximately 500,000.
The new 180,000 square foot facility is set to undergo a rigorous validation process throughout the second half of 2023 to meet automakers' standards in preparation for the start of production by the end of this year.
Austin Russell, Founder and CEO of Luminar stated: “Industrialization is the fundamental challenge to enable and scale with our high volume series production wins. This enables an increase in capacity by well over an order of magnitude as compared to our existing, manual line to meet our growing automaker requirements on volume.”
Luminar is a global automotive technology company ushering in a new era of vehicle safety and autonomy. For the past decade, the company has built an advanced hardware and software platform to enable its more than 50 industry partners.
Shares of Luminar Technologies trade on the NASDAQ under the ticker symbol LAZR. For more information visit www.greenstocknews.com
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