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Ford dissolves its 7.6% stake in Velodyne Lidar - Metro US

Ford dissolves its 7.6% stake in Velodyne Lidar

A Velodyne Lidar sensor is seen on an autonomous vehicle at the BlackBerry QNX headquarters in Ottawa

(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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