Stellantis N.V. (NYSE:STLA) recently announced an investment in SteerLight through its corporate venture fund. SteerLight is known for its advanced LiDAR (Light Detection and Ranging) sensing technology, which is said to be a new generation of high-performance systems. The company utilizes silicon photonics technology, which combines a universal semiconductor material with the speed of photos.
With this new technology, Stellantis brand vehicles could potentially see improvements in various advanced driver assistance systems, including automated driving. According to Stellantis (STLA) Chief Engineering & Technology Officer Ned Curic, the investment in SteerLight aligns with the company’s Dare Forward 2030 initiatives, which focus on identifying groundbreaking technologies that provide significant value to customers on a large scale. While the financial details of the investment have not been revealed, Stellantis Ventures has already invested in a dozen startups and one mobility fund since its establishment in 2022.
The recent investment in SteerLight further solidifies Stellantis’ commitment to innovation and delivering cutting-edge solutions to drive the future of mobility. SteerLight’s LiDAR is capable of sensing the surrounding environment in three dimensions with higher resolution and precision, all while keeping production costs lower than current LiDAR systems. This makes it an attractive option for automakers looking to incorporate advanced driver assistance systems into their vehicles without breaking the bank.
Stellantis (STLA) has seen its shares rise by 23.5% year-to-date, making it the fourth-best performer in the broad automobile sector. This growth indicates investor confidence in the company and its ability to stay at the forefront of automotive technology advancements. With this latest investment in SteerLight, Stellantis continues to demonstrate its commitment to innovation and delivering solutions that will shape the future of mobility.
