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Stellantis takes interest in optical radar start-up SteerLight

The emblem of Stellantis is visible on the company's headquarters in Velizy-Villacoublay near Paris, France, March 19, 2024

PARIS, March 20 (mod1s) - European manufacturer Stellantis (STLAM.MI), opens new tab announced on Wednesday that it was purchasing a stake in optical radar start-up SteerLight as it strives to enhance its market position and secure access to vital sensors for autonomous driving. 

The move is intended at diversifying supply of light detection and ranging, or lidar, and speeding up the development of components for its future electric fleet, Stellantis, the maker of Fiat, Peugeot and Citroen automobiles among other brands, stated.

The value of the investment, made via Stellantis Ventures, was not revealed. 

SteerLight, a firm established from France's public micro and nanotechnology research institute CEA-Leti situated in Grenoble, says their lidar solutions are more compact and less costly to build than rival goods. 

"The system is durable (no moving components) and small, enhancing flexibility for vehicle developers. It addresses difficulties of today's Lidar technology for automobiles - component size and high cost", Stellantis remarked.

SteerLight also announced the entry of two new investors, Quantonation fund and Italian venture firm Liftt.


Source: https://www.reuters.com/

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