BUZZ-Luminar rises after announcing new business, ramps production with Volvo Cars

Reuters

2024/11/12

** Shares of automotive company Luminar Technologies

rise 8.8% to $1.11 in extended trading

** LAZR says co has been selected to be featured as standard equipment on an additional model in the Volvo Cars line-up

** Announces new contract with a major Japanese automaker

** Co says it generates first Luminar Halo point cloud

** "This quarter, we've further restructured Luminar to withstand near-term headwinds facing the industry" - CEO Austin Russell

** Up to last close, stock down ~58% YTD

(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; ))

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