Overview
- Volvo confirmed it terminated its Luminar contract and will offer no lidar on EX90 and ES90 from model year 2026.
- Officials pointed to limited lidar hardware availability and said affected customers are being contacted about order changes.
- Luminar disclosed loan defaults, a roughly 25% workforce reduction, outreach to lenders and potential buyers, and a warning that bankruptcy is possible.
- Luminar filed a claim seeking significant damages from Volvo and suspended further Iris commitments as the dispute remains unresolved.
- Pressure on Luminar’s leadership has grown with founder Austin Russell’s May resignation, an SEC investigation, and a reported CFO departure last week.