Luminar, a leading global automotive technology company, announced a partnership with TPK, a multi-billion dollar supplier to companies such as Apple and Tesla, to build and operate an additional high-volume factory in Asia, in response to rapidly growing demand for Luminar. This comes on the heels of Luminar's April 13 announcement about the successful start-up of a new high-volume factory in Mexico. Luminar now has a global manufacturing presence in the United States, Mexico, Thailand, and China. Volvo Excellence, which will include Luminar LiDAR as standard for next-generation safety and autonomous capabilities, is also being celebrated.

TPK has a proven track record of producing innovative high-performance and automotive-grade technology at scale, from manufacturing the first smartphone multi-touch display that enabled the mobile device revolution to developing the automotive industry's first large-format centre screen for consumer production vehicles.

Manufacturing LiDAR in multi-million quantities is a formidable challenge, but TPK's automated manufacturing capabilities and Luminar plans stood out as the most elegant and efficient solution to a complex problem. The new factory will initially be capable of producing up to 600,000 Luminar LiDAR sensors per year to support awarded programmes from automakers such as Mercedes-Benz. As demand rises above these levels, the factory's capacity can be increased further. Given Luminar's leading technology and economic trajectory, TPK intends to purchase Luminar stock to demonstrate TPK's belief in Luminar's potential.