Market News

Polestar, Luminar Step Up Their Partnership

The electric vehicle market is getting tougher and tougher to navigate. With Tesla (NASDAQ:TSLA) cutting prices to maintain its lead and a range of other automakers chasing market share, current offerings will need to improve to stay in the game. Enter Polestar (NASDAQ:PSNY) and Luminar (NASDAQ:LAZR), two partners who are stepping up their partnership to make a better car.

The current partnership features Luminar’s lidar technology added to Polestar’s electric vehicles. The Polestar 5 already was in line to get some of the new lidar technology. With the expansion, the Polestar 3 will also pick up new hardware as well. Both cars will get Luminar’s Iris lidar and accompanying software added to the cars’ rooflines. It will take some time to actually get the new models ready; deliveries of the lidar-enhanced cars should hit in 2024.

The new lidar system should be an improvement over the first, notes Polestar CEO Thomas Ingenlath. The sensor on the system won’t stick out quite so far as it does on early models, which should improve the vehicles’ aesthetics. Reports suggest that the new lidar system should serve as a stepping stone to ultimately bring autonomous driving into play. It’s also ready to offer better safety functions as well.

Both Polestar and Luminar gained in Thursday afternoon trading, and to about the same extent: substantially. Analysts are reasonably enthusiastic about both stocks, as both are currently rated a Moderate Buy. However, Luminar has a much greater upside potential. Luminar’s stock has an average price target of $15.80, which gives it an upside potential of 99.49%. Meanwhile, Polestar stock’s average pricet arget of $10.50 gives it an upside potential of 66.4%.


Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More