Previously high-flying lidar startups continue to burn cash as total assets dwindle. Lidar suppliers in China are picking up the slack.
Point cloud taken by Hesai PandarGT 3.0 on the campus of Tsinghua University, Beijing (Image:Hesai)
What’s at stake?
Lidar startups that developed new and innovative technologies once appeared to be ushering in the robotaxi era. But the automotive industry’s demands, coupled with geopolitics, have transformed the market, forcing lidar startups to fight for survival. Who should merge with whom, and which companies are acquisition targets?
Ouster and Velodyne are the first two lidar companies to announce a merger among a wave of anticipated consolidations. The pair declared they were joining forces in early November.
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