Tech firm Velodyne moves from audio to self-driving cars

A company founded in 1984 to produce high-end audio systems is now on the vanguard of the self-driving vehicle frontier with key financial backing from Ford and Baidu, China's largest search engine provider. Velodyne, a Morgan Hill, Calif.-based company, just received 150 million from Ford and Baidu to continue development and production of Lidar, or the 3D light-powered radar that helps self-driving cars see where they are going. With a presence on three continents, Velodyne is now regularly mentioned in research reports that cite leading companies in the niche field of lidar. Lidar emits short pulses of laser light so that software in the self-driving vehicle can create a real-time, high-definition 3D image of what's around it. In addition to cars, the systems also have growing potential for agricultural equipment, mining vehicles and military vehicles.