Ford, Baidu Lead Investment in Autonomous-Car Sensor Maker Velodyne
August 16 2016 - 9:32AM
Dow Jones News
By Christina Rogers
Ford Motor Co. and Chinese web-service provider Baidu Inc. are
leading a $150 million investment in laser-sensor maker Velodyne
Inc., the latest in a series of bets being placed by car makers and
tech companies to advance autonomous-driving technology.
The investment will allow the California-based Velodyne to
expand design and manufacturing of lower-cost LiDAR sensors, which
are key to helping self-driving cars gather data from the
surrounding environment.
"LiDAR continues to prove itself as the critical sensor for safe
autonomous-vehicle operation," Velodyne CEO and founder David Hall
said in a statement. The investment will help the company bring
down the cost of the laser sensors and speed mass adoption of the
technology in future vehicles, he said.
Velodyne has long been a leader in light detection and ranging
sensors for autonomous test car. However, the expense of such
sensors remains a barrier to entry. The first version, a 64-laser
device, cost $75,000 and was large and obtrusive, sitting on the
roof of a vehicle.
Like other major auto makers, Ford is working to speed the
development of self-driving vehicles by investing in tech firms
with enabling technology.
The move follows General Motors Co. $1 billion acquisition of
autonomous-driving firm Cruise Automation earlier this year and
other moves by car companies like Toyota Motor Corp. and Volkswagen
AG to expand their software, mapping and artificial intelligence
expertise.
Mike Ramsey contributed to this article.
Write to Christina Rogers at christina.rogers@wsj.com
(END) Dow Jones Newswires
August 16, 2016 09:17 ET (13:17 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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