What's Going On With Velodyne Lidar Shares

Velodyne Lidar Inc VLDR shares are trading higher by 3.12% to $0.99 Tuesday morning after the company signed a multi-year agreement to provide its lidar sensors to Stanley Robotics.

What Else?

The Stanley Robotics automated valet parking solution equipped with Velodyne sensors is already in operation in airports and finished vehicle logistics in Europe and Japan, with further deployments expected in 2023, including North America.

Why it Matters

"Stanley Robotics is transforming logistics for vehicles with its autonomous mobile robot technology," said Laura Wrisley, Senior Vice President, Worldwide Sales, Velodyne Lidar.

"Equipped with Velodyne's lidar sensors, Stan robots provide the precision needed to safely move, park and deliver cars where and when customers need them. This advanced system aligns with efficiency and sustainability goals of car park operators, parking cars in dense blocks and relieving the need to add costly new parking areas," Wrisley stated.

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According to data from Benzinga Pro, Velodyne Lidar has a 52-week high of $7.83 and a 52-week low of $0.82.