Luminar (NASDAQ: LAZR) and Mercedes-Benz have expanded their partnership to integrate advanced automated driving capabilities in the automaker's next-generation vehicle lineup. 

Luminar's Iris lidar and software technology will be integrated into Mercedes-Benz's new conditionally automated driving system, enabling higher speeds on freeways and enhanced driver assistance in urban environments. 

This multi-billion dollar deal is a significant milestone for the two companies and the industry, enhancing the technical capabilities and safety of automated driving systems. 

Austin Russell, Founder and CEO of Luminar, stated: “Mercedes’ standards for vehicle safety and performance are among the highest in the industry, and their decision to double down on Luminar reinforces that commitment. We are now set to enable the broadest scale deployment of this technology in the industry. It’s been an incredible sprint so far, and we are fully committed to making this happen – together with Mercedes-Benz.”

Luminar is a global automotive technology company ushering in a new era of vehicle safety and autonomy. Luminar has built an advanced hardware and software platform to enable its more than 50 industry partners, including the majority of global automotive OEMs.

Shares of Luminar trade on the NASDAQ under the ticker symbol LAZR.