Amazon is buying into Velodyne Lidar – a company that makes the sensors needed for self-driving cars – in a further push into the smart automotive market. — AFP
Velodyne Lidar Inc. shares more than doubled in late trading after Amazon.com Inc. acquired warrants that could lead to a stake in the auto-sensor maker.
Velodyne agreed to issue to Amazon a warrant to acquire more than 39 million shares or almost 16% of the company, according to a filing; the warrant shares will vest over time as Amazon makes payments to Velodyne.
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