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home / news releases / luminar velodyne shares gain as lidar deals ev rally

LAZR - Luminar Velodyne shares gain as lidar deals EV rally continue

Luminar Technologies Inc.
Lidar stocks Lumiar Technologies (LAZR) and Velodyne Lidar (VLDR) are trading up 7% and 3%, respectively, after new deal announcements and amid another rally for electric vehicle stocks.EV-related stocks have rallied this week as President Biden reiterated his plan to switch the federal vehicle fleet to electric vehicles and outlined his climate change steps.Yesterday, Velodyne announced a new multiyear sales agreement to provide sensors for Emesent's mobile scanning system that maps hazardous environments.Innoviz announced a new partnership with Japanese distribution company Macnica to sell its InnovizOne solution in Japan for the first time. BMW previously tapped InnovizOne for its fully electric iX autonomous vehicle fleet.Innoviz is expected to go public in early 2021 through a reverse merger with SPAC Collective Growth (CGRO).Related: Shorts get torched on electric vehicle names Blink Charging and Workhorse Group

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Luminar, Velodyne shares gain as lidar deals, EV rally continue
Stock Information
Company Name: Luminar Technologies Inc.
Stock Symbol: LAZR
Market: NYSE
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