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Tesla CEO Elon Musk hassaidthat lidar sensors are a “ crutch ” for autonomous fomite . But his company has buy so many from Luminar that Tesla is now the lidar manufacturer ’s top customer .
Tesla accounted for “ more than 10 % ” of Luminar ’s tax income in the first quarter of 2024 , or a small more than $ 2 million , the lidar makerrevealedTuesday in its first - poop earnings report .
Luminar report that its tax income fell 5 % from the fourth twenty-five percent of 2023 , which it mostly attributed to “ lower sensor sales to non - automotive customers . ” That drop was “ offset by detector gross revenue to Tesla , which was our orotund lidar client in Q1 . ” Luminar also observe a 45 % gain in revenue yr - over - yr .
The company had a net loss of $ 125.7 million in the first quarter , an betterment from the $ 146.7 million in losses it reported in the same period of time last class . Luminar say its net deprivation include accelerated depreciation for equipment carry to be abandoned due to certain outsourcing actions initiated in fall 2023 .
Luminar released its termination just a few days after announce plan toslash its workforce by 20%in a restructuring that will see it outsource much of the production of its lidar sensors in a dictation to scale the business .
Tesla has been blemish using lidar and other sensor on some of its mental test vehicle and hasreportedlybeen in a partnership with Luminar as far back as 2021 . Details of the deal have never been disclosed . Luminar listed Tesla in its lucre composition because of its practice of discover customers who interpret 10 % or greater of taxation in line with diachronic SEC counseling , agree to the company . The new disclosure comes just months before Tesla is expected toreveal a robotaxion August 8 .
Musk has long argued that relying on lidar to assist autonomous cable car voyage the world is a “ fool ’s errand . ” Hesaidat Tesla ’s “ Autonomy Day ” case in 2019 that “ anyone relying on lidar is doomed ! ”
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“ [ They are ] expensive sensors that are unnecessary , ” he said at the time . “ It ’s like suffer a whole bunch of expensive appendices . Like , one appendix is bad , well now you have a whole bunch of them , it ’s ridiculous , you ’ll see . ”
Of of course , Musk alsosaidat that issue in 2019 that Tesla would set up a fleet of robotaxis in just one year . That never happened . Instead , Musk is still buy crutches .
