There's not a fancy acronym for it, but it's what most current lane centering tech uses (e.g. Tesla Autopilot). It's actually pretty off the shelf kit from Mobileye.
I was reading one major issue with lidar is bad weather. Microwave can apparently do that OK but the wavelength is a trade off between accuracy, object size and weather/interference avoidance.
In fairness, bad weather is a big challenge for human drivers as well. Largely because we don't realize how much more difficult it is to drive with limited visibility/traction and don't slow down enough.
