How important is lidar for autonomous driving?

Quanergy Systems is making headlines as the first autonomous driving startup to file for an initial public offering (IPO). This move signals a major milestone in the rapidly evolving self-driving industry. In this article, we take a closer look at what Quanergy is doing and why it's generating so much interest.

According to insiders, the company has already begun working with banks to prepare its market profile and is on track to complete its IPO by 2018. Based in Sunnyvale, California, Quanergy has not yet made any official comments about the development. However, the news has already sparked speculation among investors and industry observers.

The company specializes in developing lidar (light detection and ranging) technology, which plays a crucial role in autonomous vehicles. Lidar systems use laser beams to create real-time 3D maps of the surroundings, enabling cars to detect obstacles, navigate safely, and make decisions on the road. Most autonomous vehicles require at least two lidar sensors to ensure accurate and reliable performance.

Currently, Quanergy’s lidar products are priced around $4,000, which is relatively competitive within the industry. However, the company has ambitious plans to bring the cost down significantly—targeting a price of just $100 within the next two to three years. This could revolutionize the adoption of lidar technology across the automotive sector.

As autonomous driving technology continues to advance, the automotive industry is becoming more competitive than ever. Tech giants like Alphabet (Google) and Apple are heavily investing in self-driving systems, while traditional automakers such as Tesla, Volkswagen, and Audi are also pushing forward. In July, Audi, part of the Volkswagen Group, launched its first production vehicle equipped with a lidar system, marking a significant step toward mainstream adoption.

Quanergy has attracted strong backing from major players, including Daimler, Delphi, Samsung Electronics, and billionaire Alisher Usmanov. Notably, Usmanov had previously invested in companies before their successful IPOs, such as Facebook and Alibaba. This kind of high-profile support underscores the potential of Quanergy’s technology and business model.

In 2016, Quanergy raised personal financing that valued the company at $1.5 billion. CEO Louay Eldada has spoken about the company’s vision in several interviews, emphasizing the importance of innovation and long-term growth in the autonomous vehicle space.

In conclusion, lidar technology is a key enabler for fully autonomous vehicles, and Quanergy is positioning itself as a leader in this field. With strong investor support, cutting-edge technology, and a clear roadmap for scaling its products, the company is well-placed to shape the future of self-driving cars. For more insights into automotive electronics and the role of lidar in autonomous driving, stay tuned. Electronic Engineering will keep you updated with the latest developments and in-depth analysis.