CEO Austin Russell says car-tech firm 'Luminar is firing on all cylinders'
Luminar Technologies Inc. (Nasdaq: LAZR) CEO Austin Russell is very pleased with his company's first-quarter 2023 performance, despite suffering a net loss in that time period.
“Luminar is firing on all cylinders and successfully proving our ability to execute, industrialize and capitalize on our business," he said in a prepared statement. "Over the past quarter, leading automakers have continued to expand our technology across their vehicle lineups, betting the future of their ADAS [advanced driver-assistance systems] and autonomous roadmaps in partnership with Luminar.
"The first production run of the Luminar-equipped Volvo EX90 has now sold out faster than even Volvo’s ambitious expectations. This demonstrates the sheer demand for the most advanced and safest technologies on the road, with growing excitement about Luminar not just from automakers but also consumers directly.”
