Ford and Baidu invest $150m in LiDAR technology from Velodyne
Velodyne LiDAR has gained a combined $150 million investment from co-investors Ford Motor and Baidu, China’s leading search engine company. Morgan Stanley acted as sole placement agent for this transaction.
David Hall, founder and CEO, Velodyne LiDAR, said: “LiDAR continues to prove itself as the critical sensor for safe autonomous vehicle operation. This investment will accelerate the cost reduction and scaling of Velodyne’s industry-leading LiDAR sensors,...