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Swedish automaker Volvo has cancelled a five-year-old contract with Luminar, the latest escalation in an increasingly-ugly brawl between the lidar sensor company and its biggest customer. The fight is happening during an existential moment for Luminar. The company recently defaulted on several of its loans. While it’s working with those lenders on a resolution, Luminar … Read more
Lidar-maker Luminar is warning shareholders that it will run out of cash in early 2026 and has announced a 25% cut to its workforce to help staunch the bleeding — its second layoff of the year — according to a Friday regulatory filing. It’s not immediately clear how many workers will be affected. Luminar started … Read more
Austin Russell, the billionaire founder of Luminar, has made a bid to acquire the lidar maker five months after he was replaced as CEO following an ethics inquiry. The takeover effort was disclosed in an SEC filing by Russell early Friday morning. It would involve his new company, Russell AI Labs, purchasing 100% of the … Read more
Lidar company Luminar reached a deal with Yorkville Advisors Global and another unnamed investor that could bring another $200 million into its coffers through the sale of convertible preferred stock over an 18-month period. The agreement, which was announced in a regulatory filing Wednesday, follows an abrupt change in leadership and layoffs. Earlier this month, … Read more
Luminar, the lidar company founded by recently replaced CEO Austin Russell, is going through another restructuring, according to a recent regulatory filing. This new round of layoffs, which the company did not provide figures for, follows extensive cuts to the workforce in 2024. Luminar cut about 30% of its workforce in 2024, a reduction that … Read more
Austin Russell, who became a billionaire after his lidar startup Luminar went public, appears to be out as CEO, according to the company’s board. Luminar’s board announced Wednesday — the same day of its first-quarter earnings report — it had replaced Russell and appointed Paul Ricci to the role. Ricci is the former chairman and … Read more
Welcome back to TechCrunch Mobility — your central hub for news and insights on the future of transportation. Sign up here for free — just click TechCrunch Mobility! OK, who placed their bet on General Motors being the landing spot for Aurora co-founder and chief product officer Sterling Anderson? Not me. But here we are. … Read more
Austin Russell, who became a billionaire after his lidar startup Luminar went public, appears to be out as CEO, according to the company’s board. Luminar’s board announced Wednesday — the same day of its first-quarter earnings report — it had replaced Russell and appointed Paul Ricci to the role. Ricci is the former Chairman and … Read more
On the plus side, the finishes are very nice. It looks and feels sturdy. The faint scent of cedar in the air when you step inside is lovely. As my daughter and the neighborhood kids can attest, it is a beautiful, cozy little nook in which to curl up and read a book if you’re … Read more
https://www.profitablecpmrate.com/nsirjwzb79?key=c706907e420c1171a8852e02ab2e6ea4