MicroVision (NASDAQ:MVIS) stock got a boost on Thursday after announcing more details about its lidar sensor.
MicroVision’s announcement includes it getting all the parts it needs to complete a working sample by its April estimate. The company is developing a long-range Lidar sensor that it believes will meet or exceed requirements from automotive companies for autonomous vehicles.
According to MicroVision CEO Sumit Sharma, the company’s new senor will have a range of 250 meters. It will also be sporting the highest resolution of any lidar. All of this primes it to be a sought-after component for auto manufacturers.
MicroVision also notes that its development will speed up its goal of reaching level 4 and level 5 autonomous safety. These additional levels are something that automotive companies have been seeking to increase confidence in the self-driving vehicle market.
To go along with all of this, MicroVision also says that its long-range lidar sensor will be relatively cheap to make. This will have it achieving scale at a price of less than $1,000 ASP. The company says that’s a key component of the long-range lidar sensor being a commercial success.
MicroVision has been ramping up its sensor development as more markets call for the technology. Potential investors that want to learn more about that can follow this link for more insight on the company.
MVIS stock was up 24.5% as of Thursday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
