Ford Motor and Chinese search engine ' Baidu ' invest $150 million in Velodyne LiDAR , the leading supplier of Technology that lets cars see and avoid what's between their way.
This money will help Velodyne to lower the cost of its LiDAR ( Light Detecting and Ranging ) - It is a surveying technology that measures distance by illuminating a target with a laser light.
Velodyne will also use this money to scale its manufacturing , as well as its development and research departments.
In order to push down the cost of its LiDAR , Velodyne is working with the supplier network .
Velodyne President and COO : Mike Jellen said that the company will double the number of its employees in the next 12 - 18 months.
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This money will help Velodyne to lower the cost of its LiDAR ( Light Detecting and Ranging ) - It is a surveying technology that measures distance by illuminating a target with a laser light.
Velodyne will also use this money to scale its manufacturing , as well as its development and research departments.
In order to push down the cost of its LiDAR , Velodyne is working with the supplier network .
Velodyne President and COO : Mike Jellen said that the company will double the number of its employees in the next 12 - 18 months.
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