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.