Yahoo Finance Stellantis (STLA) Backs SteerLight's Innovative LiDAR Technology
Stellantis’ STLA venture fund arm — Stellantis Ventures — has made a strategic investment in SteerLight, a pioneering developer of cutting-edge Light Detection and Ranging (LiDAR) technology.
The innovative on-chip LiDAR developed by SteerLight promises unparalleled sensing precision and resolution, all at a lower cost compared to existing LiDAR systems. SteerLight's LiDAR technology stands out due to its utilization of silicon photonics technology. By combining a universal semiconductor material with the speed of photons, SteerLight's LiDAR can sense the surrounding environment in three dimensions with greater accuracy and precision than ever before. Moreover, it accomplishes this at a reduced production cost, making it more accessible for widespread adoption in the automotive industry.
The potential applications of this advanced LiDAR technology are vast, particularly in the realm of ADAS and automated driving. Stellantis' investment underscores the company’s commitment to automated driving. SteerLight's LiDAR technology aligns with STLA’s vision, promising to enable enhanced ADAS applications that can significantly improve driver safety and overall driving experience.
François Simoens, the co-founder and CEO of SteerLight, highlighted the potential for large-scale adoption of LiDAR technology in various industrial and mobility applications, particularly in the automotive industry. SteerLight's LiDAR technology, based on Frequency Modulated Continuous Wave (FMCW) technology, offers numerous advantages over traditional LiDAR systems. It's robust, compact and cost-effective, addressing key challenges faced by current LiDAR technologies, such as component size and high production costs. Additionally, its resistance to interference from the surrounding environment ensures reliable performance in real-world driving conditions.
SteerLight’s focus on silicon photonics-based LiDAR technology represents a significant step forward in the advancement of automotive sensing systems. By leveraging Stellantis Ventures' investment and expertise, SteerLight aims to accelerate the development and deployment of its LiDAR technology, paving the way for the next generation of vehicles equipped with advanced safety features and autonomous capabilities.
Since its establishment in 2022, Stellantis Ventures has demonstrated a commitment to supporting innovative startups and technologies that have the potential to transform the automotive industry. With investments in 12 startups and one mobility fund, Stellantis Ventures is playing a crucial role in driving forward the development of cutting-edge solutions that benefit both customers and society as a whole.
Zacks Rank and Key Picks
Stellantis currently carries a Zacks Rank #3 (Hold).
A few top-ranked players in the industry include Toyota TM, LI Auto LI and Allison Transmission Holdings ALSN, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for TM’s 2024 sales and earnings suggests year-over-year growth of 10% and 73.6%, respectively. The EPS estimates for 2024 and 2025 have improved $1.30 and $1.01, respectively, in the past 30 days.
The Zacks Consensus Estimate for ALSN’s 2024 sales and earnings suggests year-over-year growth of 2.1% and 3.2%, respectively. The EPS estimates for 2024 and 2025 have improved 13 cents and 29 cents, respectively, in the past 30 days.
The Zacks Consensus Estimates for LI’s 2024 sales and earnings implies year-over-year growth of 72.3% and 38%, respectively. Over the past seven days, EPS estimates have moved up 16 cents for both 2024 and 2025.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Toyota Motor Corporation (TM) : Free Stock Analysis Report
Allison Transmission Holdings, Inc. (ALSN) : Free Stock Analysis Report
Li Auto Inc. Sponsored ADR (LI) : Free Stock Analysis Report
Stellantis N.V. (STLA) : Free Stock Analysis Report
