TECH - Tesla Surprisingly Becomes Luminar's Largest Lidar Customer Contradicting Musk's Past Criticism | Benzinga
Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk has described lidar sensors as a “crutch” for autonomous vehicles. Yet Tesla has become the largest customer of lidar manufacturer Luminar Technologies, Inc. (NASDAQ:LAZR).
As disclosed in Luminar’s earnings report on Tuesday, in the first quarter of 2024, Tesla contributed over 10% of Luminar’s revenue, totaling more than $2 million.
Luminar’s revenue decreased 5% from the fourth quarter of 2023, primarily due to reduced sensor sales to non-automotive customers. However, this decline was mitigated by increased sales to Tesla, which became Luminar’s largest lidar customer in the first quarter, TechCrunch reports.
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