Luminar CEO Austin Russell said in an interview with CNBC that the company has begun producing automotive lidar equipment ahead of schedule.

Luminar, a global leader in automotive lidar hardware and software technology, has begun producing Iris lidar devices for its customers ahead of schedule. In an interview with CNBC, Austin Russell, founder and CEO of Luminar, revealed that the company's autonomous driving technology has entered consumer-grade mass-produced models from the research and development stage for the first time. Luminar's lidar equipment will be used in SAIC's Rising Auto R7 electric SUV and Volvo's upcoming EX90 flagship electric model. In addition, Luminar also confirmed its previous forecast that it expects full-year revenue to reach US$40 million to US$45 million.