Ford dissolves its 7.6% stake in Velodyne Lidar
9:37 am Monday, February 15th, 2021
(Reuters) – Ford Motor Co has dissolved its stake in Velodyne Lidar Inc, a maker of sensors used in self-driving cars, according to a regulatory filing on Monday.
As of Sept. 30, Ford had a passive stake of 7.6% or 13.07 million shares in Velodyne.
Velodyne is one of several companies vying to supply automakers with lidar, a sensor that generates a three-dimensional map of the road ahead.
(Reporting by Ayanti Bera in Bengaluru)
