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Luminar has reached a multibillion-dollar agreement with Mercedes-Benz to supply its Iris lidar sensors for the German carmaker's next-generation vehicles by mid-decade.
ECARX Holdings has entered into a merger agreement with COVA Acquisition Corp. valuing ECARX at $3.82 billion pro forma equity value. The transaction includes $45 million from strategic partners Geely Holding Group, Luminar and Lotus Technology.