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Valeo has won €500M worth of lidar orders with 4 major OEMs

Valeo has won €500 million ($564 million) worth of orders for its lidar car sensor products with four major global auto groups. Valeo is the world’s leading manufacturer of driving assistance sensors.

Valeo executive Marc Vrecko told Reuters that those orders will probably eventually represent between 1 to 1.5 billion worth of recurring business.

With more than $1 billion in corporate and private investment going into some 50 lidar startups over the past three years, including a record $420 million in 2018, Valeo is investing heavily to benefit from ever-tightening emissions regulations and increasing vehicle automation.

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