Alternatives to LiDAR are possible, but the industry is already committed

The close partnerships and tie-ups that have emerged between LiDAR developers and automakers underline the industry’s commitment to the technology. A hand-in-hand approach has helped automakers develop LiDAR solutions specific to their platforms, helping to tackle cost. For example, Volvo’s investment in Luminar means it could have LiDAR-equipped cars on the road by 2022. Luminar says it is aiming for US$500 a unit. Similarly, in October 2020, Tel Aviv-based Innoviz—which works with BMW and Magna—announced it had built a LiDAR 70% cheaper than its previous unit, which will be available from Q3 2021 onwards.