Velodyne aims to price new self-driving car sensor below $500

Velodyne Lidar Inc said on Friday it would introduce a new lidar unit, a key sensor in self-driving cars, with a target price point of less than $500 and no moving parts.

Velodyne became a public company in September and is one of several companies vying to supply automakers with lidar, a sensor that generates a three-dimensional map of the road ahead. Velodyne was an early entrant into the market, and its units have powered research operations for many automakers.

Some of those early research units were bulky, contained many moving parts and cost well above $10,000. For mass production in passenger vehicles, automakers and their major suppliers seek units that are sleek enough to fit into attractive car designs and cost well below $1,000.