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Autos

Ford dissolves its 7.6% stake in Velodyne Lidar

FILE PHOTO: A Velodyne LiDAR sensor is seen on an autonomous vehicle at the BlackBerry QNX headquarters in Ottawa, Ontario, Canada, February 15, 2019. REUTERS/Chris Wattie

(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

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