Jason - We shipped the first Hydra in April of 2018.

We were able to take the lessons from Hydra

and apply them to Iris.

From Hydra to Iris, we've made improvements in all aspects.

So we have all the performance improvements and enhancements

in our algorithms and in our overall design for stability

and manufacturing and high volume production as well.

On all fronts, Iris is a stepwise improvement

on the core technology that we've developed.

So right now, Iris is exactly on schedule.

Actually, some of the engineering validation

is ahead of schedule.

We've been on schedule with all of our deliverables

and milestones with our partners to date.

At Volvo, our Iris sensor has been integrated

into the vehicle,

their program with the integration of Iris is on schedule.

Lonnie - The progress we've made on Iris in the last

18 months has been unbelievable.

We've gone from concept of an amazing product

to actually building our first A samples and B samples,

shipping them to our customers and getting amazing feedback.

Literally bringing up the capability

of building this auto grade product

on a very aggressive schedule

and really proving that we can do it.

Jason - Hitting auto grade specs is a nontrivial issue.

Over the last quarter,

we've been able to execute our engineering validation

and prove that our sensor

can meet the automotive requirements

and the specifications needed for autonomous driving

based off simulations in our design

in our rigorous engineering process.

We knew what our performance would be

even before we tested the sensor.

We proved that from minus 40 C to 85 C,

the sensor would work exactly as designed.

So we put the sensor through an extreme amount of testing

for vibration and shock,

through our design validation process,

right from our first test,

Iris has met those specs as well by design.

Lonnie - We at Luminar we're blessed with having the resources

to truly invest in the key technologies

that enable our product to be different.

We have expertise in house

that are literally developing the processes

that it takes to make the units,

right along with the engineers that are developing them

from concept, through high volume production with one team.

So we then have that expertise and we can then transfer it

to different partners at different regions around the world.

Our first partner is in North America, it's in Mexico.

So we'll be able to transfer that knowledge.

Meanwhile, we retain that expertise,

that if a different partner at another region of the world

whether it be Europe or Asia,

you can also transfer it to them as well.

We're in the process today of transferring that product

throughout the global supply chain,

where we're partnering with amazing partners

who are able to help us go from building hundreds

to building millions as we go forward.

Once you have the product designed

and the automation set in place,

there's nothing holding you back from mass producing it

on one line to two lines to 10 lines

from one site, to two sites to 10 sites.

Jason - By the end of the year,

we'll have gone through our production validation phase

and prepared ourselves to execute mass production.

(upbeat music)

It's a huge amount of growth

not just for the technology itself, but for the company.

And when you start to see it come to life

and you start to see the fruits of the labor

that had been put in for years begin to shine,

it's an amazing feeling.

That's where we're at with Iris right now.

We're seeing the performance of the system

that's gonna enable this new experience

and it's extremely exciting.

(upbeat music)