Ford Sells Its Stake In Self-Driving Sensor Maker Velodyne Lidar

Velodyne Lidar has been the exclusive provider of Light Detection and Ranging sensory equipment for Ford’s autonomous vehicle program for years now. Ford and Chinese technology firm Baidu Inc. invested $150 million in the self-driving tech company back in 2016, and when Velodyne Lidar went public last fall, we learned that Ford had a 7.6 percent stake in the company, which was worth around $227.2 million at the time. Now, Ford has sold off that stake completely.