| 1:41 PM EST

Valeo Touts Lidar Contract Wins

#Valeo #Audi #tech


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Valeo SA says it has received contracts from four unnamed carmakers totaling a combined €500 million ($564 million) for autonomous vehicle lidar sensors.

The deals could eventually be worth two to three times that amount over the life of the contracts, CEO Marc Vrecko tells Reuters. No information was provided about when the vehicles equipped with the technology would be launched, their level of autonomy or the duration of the contracts.

Currently, the Audi A8 luxury sedan is the only production car that offers lidar. Valeo supplies that system in partnership with Quebec City-based LeddarTech.