2020–present: Public offering and growth
In May 2020, Volvo announced a self-driving highway feature, "Highway Pilot", to be powered by Luminar's third-generation Iris lidar.[21] Volvo said the technology would be available as an option to car buyers starting with the XC90.[22] Also in May 2020, Tom Fennimore, previously an investment banker, joined Luminar as chief financial officer.[23]
On August 24, 2020, Luminar announced it was going public through a special-purpose acquisition company deal, with shares to be listed on NASDAQ.[24] The merger with Gores Metropoulos, part of The Gores Group, was projected to raise Luminar's market cap to an estimated $3.4 billion.[25] In addition to the $400 million cash infusion from Gores Metropoulos, additional capital totaling $170 million came from Peter Thiel, the Volvo Cars Tech Fund and Alec Gores, among others.[24][26] On December 3, 2020, Luminar went public,[27] trading as LAZR.[28] Russell retained 83% of the company's voting power and took on the role of chairman.[27]
Daimler AG's truck unit took a minority stake in Luminar in October 2020, investing in the company as part of its efforts to develop self-driving trucks.[29][30] The next month, Intel subsidiary Mobileye selected Luminar to supply lidar sensors for its autonomous vehicles.[31][32] The company announced in March 2021 that it had partnered with Volvo's self-driving software subsidiary, Zenseact, to combine Luminar's hardware and Zenseact's OnePilot software into a self-driving system, called Sentinel, to be sold to automakers.[33] Also in March 2021, SAIC Motor announced it would use Luminar sensors and Sentinel software to provide autonomous functions in its "R brand" line of vehicles.[34]
In 2020 and 2021, Luminar moved its Orlando operations from the Central Florida Research Park to its other Orlando facility to increase its manufacturing capabilities.[36] In April 2021, Luminar expanded its business into aviation, partnering with Airbus subsidiary UpNext to test how lidar can be used to facilitate autonomous flight[37] and improve safety conditions for helicopters and other fixed-wing aircraft.[38] Also in April 2021, Alan Prescott, formerly acting general counsel of Tesla, became Luminar's chief legal officer.[39][40] The next month, Pony.ai, a self-driving vehicle company, announced that Luminar's Iris lidar systems would be used in its next generation of robotaxis.[41]
In March of 2022, Luminar announced acquisition of Freedom Photonics LLC, a manufacturer of high-performance semiconductor lasers and photonic integrated circuits, based in Santa Barbara, California.[46] Freedom Photonics has developed a variety of high-performance semiconductor laser technology and products, including high brightness and output power aura semiconductor laser/amplifier technology.[47] This acquisition has brought all three key technology pillars, ASICs, photodiodes and lasers in house and completed vertical integration of the core components of the lidar transceiver.
In April of 2022, Nissan announced they would use Luminar technology to integrate advanced autonomous functionality in all their cars by 2030.[48]
In January 2023, Luminar announced the acquisition of Civil Maps, a 3D mapping data startup that intends to integrate into its Sentinel platform.[49] The next month it acquired Seagate's lidar division to further its lidar production capabilities.[50] In April of 2024, Luminar acquired EM4, a carveout out of Gooch and Housego, located in Bedford, MA. This business was added to other photonics businesses within Luminar Semiconductor, a wholly owned subsidiary by Luminar.
In March 2025 Mark Rober releases a video titled "Can You Fool A Self Driving Car?"[51] comparing Luminar Technologies latest model to Tesla's self-driving capabilities. However the video was mired in controversy when it was revealed that the Luminar enabled car was driven by a Luminar employee, not self-driving, and the Tesla car did not have the FSD (Full Self-Driving) package enabled.[52] In addition there are concerns that the 'test' was conducted multiple times, or that due to the cartoonish cut-out, Rober planned on hitting the wall with the Tesla.[53][54] This video caused the stock to soar 27% when markets reopened on Monday, two days after the video was published.[55][56]
In May of 2025, Austin Russell has resigned from the company after a Board investigation related to ethics. He was replaced by Paul Ricci.
In November 2025, Luminar was dropped by Volvo and will no longer feature any of their lidar sensor in the 2026 ES90 and EX90 models as standard equipment.[57] In December 2025, shortly after the Volvo termination, Luminar filed for Chapter 11 bankruptcy, listing assets between $100 million and $500 million, and liabilities between $500 million and $1 billion. The company sold its stake in its subsidiary, Luminar Semiconductor, Inc., to Quantum Computing for $110 million [58] and the lidar technologies to Microvision for $33 million. 4/7/2026 Files for Bankruptcy.