![]() A trademark filing from June 30 described a "vehicle collision avoidance system" with ultrasound sensors and radar apparatus, not just the optical technology used in lidar. Another version generated even sharper images, but the information was processed with a slight delay - because of a lack of computing power to crunch all the data rather than a problem with the core technology, the person said. In a recent demonstration, the images generated by Luminar’s lidar system were higher-definition than those produced by competing equipment made by Velodyne or Quanergy, according to someone who saw the equipment first-hand, but was not allowed to discuss it publicly. Satellite navigation systems are only accurate to within about 16 feet - not enough for a driverless future. It's an essential ingredient for autonomous driving because it generates a real-time image of passing and surrounding objects and helps a vehicle accurately locate itself. Whereas radar uses radio waves to detect objects, lidar uses laser beams, helping it produce more accurate 3-D images. Quanergy aims to have one that sells below $100 in three to four years. ![]() ![]() Russell is trying to develop a lidar priced significantly less than $1,000, according to people with knowledge of Luminar's planning. Autonomous cars often require two or more lidar sensors, so having a capable system can get expensive. It offers cheaper lidar, which generates lower-definition 3-D images, for about $8,000, while Quanergy has a product that sells for some $4,000. It's also funding research and development to solve challenges that have plagued the nascent lidar market.Ī top-of-the-range lidar from Velodyne sells for more than $50,000. Some of Luminar's money has been used to buy a small fleet of Tesla Model S electric cars, which it uses for testing, said one of the people who has visited. He was mostly immersed in his phone, which he showed occasionally to a small group gathered close to him, while more than 100 up-and-coming entrepreneurs and older mentor types chomped pizza and sipped beer. Towering above the crowd, he lingered in the corner near the entrance, speaking in a booming voice, and avoiding eye contact with a reporter. In January, in the upscale Nob Hill section of San Francisco, a gangling Russell attended a party for 1517 Fund, a VC firm partly backed by Thiel. Now, it's increasingly technology that interacts with the physical world - cars, robots, drones and software for automation. The ideas used to be mobile apps or web software. It's still the place where prodigies can find generous backers for audacious plans. Luminar's rise also says a lot about Silicon Valley's past and present. Velodyne expects to ship 12,000 units this year, 80,000 in 2018 and 1.7 million by 2022. Several car companies want autonomous vehicles on the road by 2020 or 2021, which means they're starting to order lots of lidar systems. ![]() "It's a gold rush and we're selling pickaxes," said Velodyne President Mike Jellen, who graduated college years before Russell was born. That a relatively unknown college dropout of barely drinking age can raise millions of dollars shows the appetite for lidar. ![]()
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