Lidar manufacturer Luminar Technologies is being dismantled, the company liquidated. This is the result of the US company’s insolvency proceedings. Luminar owes over half a billion dollars, significantly influenced by a failed cooperation with the Chinese car manufacturer Volvo. Only a fraction of the debts will be recovered. At the last minute, creditors could hope for a better bankruptcy quota.
As the insolvency court was about to confirm the previously conducted auction of Luminar’s assets, a new bidder suddenly appeared with a significantly higher sum. Their overbid was said to be considerably better than the auction result of 33 million US dollars. However, after the various parties to the…