Thursday afternoon saw a noticeable spike in the shares of Luminar Technologies (LAZR) following their mention at Rivian Automotive’s (RIVN) Autonomy and AI Day event.
Rivian plans to incorporate LiDAR technology into the upcoming R2 models. According to the electric vehicle manufacturer, this integration will enhance its multi-modal sensor strategy, allowing for more precise three-dimensional spatial data and added layers of sensing to improve real-time responses to complex driving scenarios.
Moreover, Rivian announced that its Gen 3 autonomy hardware—which includes both ACM3 and LiDAR—currently undergoing validation, is on track to start shipping with the R2 models by late 2026.
As a result of these developments, shares of Luminar Technologies (LAZR) experienced an increase of 6.8% at 1:35 PM, with short interest on LAZR currently at 28.5% of its total float.
