Self-Driving Technology Maker Luminar Files Bankruptcy

Luminar Technologies, which makes sensor technology for self-driving cars, filed for bankruptcy after losing a supply contract with Volvo Cars.

The technology company said it has entered chapter 11 with the support of 91% of its first lien noteholders and 86% of its second lien noteholders to sell its LiDAR business, making scanners that use pulsed lasers to sense distances to nearby targets.