- The stock price of Luminar Technologies Inc (NASDAQ: LAZR) fell by 4.14% yesterday. This is why it happened.
The stock price of Luminar Technologies Inc (NASDAQ: LAZR) fell by 4.14% yesterday as it went from a previous close of $20.04 to $19.21. Investors appear to be responding to China-based electric vehicle company XPeng Motors announcing that the XPeng P5 model launching in the second half of the year is expected to be the first vehicle in production to be equipped with automotive-grade LiDAR technology.
The P5 is going to feature Navigation Guided Pilot (NGP) capabilities to city roads for the first time in a production vehicle, which is powered by XPeng’s full-stack in-house developed autonomous driving system XPILOT 3.5. The LiDAR technology is powered by Livox, which is an affiliate of DJI.
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