美国激光雷达先驱 Luminar的轰然倒塌，与一项旨在将中国传感器排除出美国关键基础设施的法案几乎同步 发生。这并非巧合，而是宣告了激光雷达——这颗赋予机器以"视觉"的核心元器件，已从单纯的技术与商业竞 争擂台，升级为大国科技博弈与供应链安全的新前线。 ▍ 一纸禁令与一家巨头的倒下：序幕拉开 2025年12月，两件震动全球激光雷达产业的事件接连发生。 在华盛顿，美国众议院 "中国问题特别委员会"资深成员拉贾·克里希纳穆尔蒂提出一项新法案，核心诉求直白 而强硬：以"国家安全"为名，逐步淘汰在美国自动驾驶汽车及关键基础设施中使用的中国制造激光雷达传感 器。 该法案的立法依据被定义为 "国家安全考量"，其宣称中国产传感器可能在冲突期间遭太空黑客攻击并禁用， 导致美国大型系统瞬间瘫痪。为此，它设下了明确的时间红线：三年后禁止新增采购，五年内完成关键基础设 施中现有设备的替换。 几乎与此同时，在得克萨斯州南区法院，曾被誉为行业灯塔的美国激光雷达公司 Luminar Technologies，正 式提交了破产保护申请。文件显示，其资产估值在1亿至5亿美元之间，而负债却高达5亿至10亿美元。这家曾 拥有与戴姆勒、奔驰、日产 ...

Core Viewpoint - Luminar, a prominent player in the autonomous driving technology sector, is facing significant financial distress, with a cash reserve of approximately $72 million and total debt of $429 million, leading to potential operational challenges and workforce reductions [5][6][36]. Financial Situation - As of October 24, Luminar holds about $72 million in cash and securities, while its total debt stands at $429 million [5]. - The company may run out of cash by Q1 2026 if current spending continues, prompting a 25% workforce reduction [5][19]. - Luminar has missed loan interest payments due on October 15, with a grace period until November 6, raising concerns about potential default [22]. Management Changes - CFO Thomas Fennimore is set to leave on November 13, with the company stating his departure is not due to financial disagreements [5][23]. - Founder Austin Russell was removed as CEO in May due to an undisclosed ethical investigation but remains the largest shareholder and is reportedly seeking to buy back the company [24][27]. Business Challenges - Luminar's partnerships with major automakers like Volvo and Mercedes are under strain, with Volvo delaying the launch of models equipped with Luminar's sensors [13][14]. - The company is facing high R&D and manufacturing costs, selling sensors below production costs, and is in a price war to maintain customer relationships [16][34]. - The overall market for lidar technology is slowing, with projections for the global market size in 2025 revised down to $2 billion from $3.5 billion [38]. Industry Context - Luminar's struggles reflect broader challenges in the lidar industry, where companies are experiencing layoffs and stock price declines amid a shift in market dynamics [37][38]. - The automotive supply chain is reassessing risks, with some projects potentially facing delivery delays [39]. - Despite current challenges, Luminar retains some technological advantages, particularly in its 905 nm wavelength lidar performance [39].