Swedish automaker Volvo has cancelled a five-year-old contract with Luminar, the latest escalation in an increasingly-ugly brawl between the lidar sensor company and its biggest customer.
The fight is happening during an existential moment for Luminar. The company recently defaulted on several of its loans. While it’s working with those lenders on a resolution, Luminar has warned investors it may have to declare bankruptcy.
To stave that off, Luminar recently laid off 25% of its staff and is trying to sell itself — or parts of itself — to po
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