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Investors also seem to think this won’t have a long-term impact. There is also a possibility that Tesla is de-risking its reliance on a single technology, by testing self-driving capabilities using alternative hardware, given the high stakes involved in the self-driving race. It’s more likely that Tesla was only benchmarking the lidar technology against its own camera-based system. The company has been equipping camera hardware as standard in every vehicle it has delivered since 2016, enabling users to unlock capabilities by paying for software. It isn’t clear if Tesla actually intends to use lidar in its vehicles, considering that the company has invested significantly in camera-based systems.
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While having the world’s most valuable auto company test out hardware might appear positive for a fledgling company, it probably doesn’t mean too much for Luminar. This is interesting, considering that Tesla relies on a camera-based system for its autonomous-driving system, with CEO Elon Musk previously dismissing the use of laser-based sensors, produced by the likes of Luminar, as unnecessary. Luminar (NASDAQ: LAZR), a company that develops lidar sensors for use in self-driving cars, saw its stock move considerably late last week, following reports that EV behemoth Tesla was spotted testing Luminar’s sensors on its vehicles.
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