Stellantis buys stake in optical radar start-up SteerLight
European carmaker Stellantis is acquiring a stake in optical radar startup SteerLight to strengthen its market position and secure access to crucial sensors for autonomous driving. This move aims to diversify the supply of lidar and speed up the development of components for its future electric fleet. Stellantis, the producer of Fiat, Peugeot, and Citroen cars, made the investment through Stellantis Ventures, though the amount was not disclosed. SteerLight, originating from France’s CEA-Leti in Grenoble, claims its lidar solutions are more compact and less expensive than competitors’. The company emphasizes that its system has no moving parts, making it robust and compact, which provides flexibility for vehicle engineers and addresses the challenges of component size and high cost in current lidar technology. Additionally, SteerLight has welcomed two other investors, Quantonation fund and Italian venture fund Liftt.