Volvo's "cut off" deal turns out to be a fatal blow! Laser radar giant Luminar (LAZR.US) filed for bankruptcy, with debts as high as $1 billion.

According to the Wise Finance APP, Luminar (LAZR.US), a company producing laser sensors for cars, applied for bankruptcy protection shortly after the termination of its contract with the Swedish car manufacturer Volvo Cars. Luminar's peak valuation once reached as high as $5 billion.