Innoviz to Provide InnovizTwo LiDAR Sensor and Perception Software for Series Production Vehicles
TEL AVIV, Israel, May 3, 2022 ” Innoviz Technologies Ltd. (NASDAQ: INVZ) (the Company or Innoviz), a leading provider of high-performance LiDAR sensors and perception software, announced today that one of the largest vehicle manufacturers in the world has selected Innoviz to become its direct LiDAR supplier across multiple brands. The selection, which is Innoviz's third major design win, follows more than two years of extensive diligence and qualification, and will increase Innoviz's forward-looking order book by $4 billion to $6.6 billion. The company will elaborate further on the new achievement on its coming quarterly earnings call on May 11 at 9:00a.m. ET.
Being selected by another multi-brand global vehicle maker is a significant catalyst for Innoviz, said Innoviz CEO and Co-Founder Omer Keilaf. We are expecting the scope of this deal to grow even further, as additional car brands within the group decide to adopt our platform. We are proud to deliver our outstanding next-generation LiDAR to support this new series production program and remain focused on the launch of our existing programs and winning more key opportunities.
You can find footage of InnovizTwo LiDAR performance here.
About Innoviz Technologies
Innoviz is a global leader in LiDAR technology, working towards a future with safe autonomous vehicles on the world's roads. Innoviz's LiDAR and perception software see better than a human driver and reduce the possibility of error, meeting the automotive industry’s strictest expectations for performance and safety. Operating across the U.S., Europe, and Asia, Innoviz has been selected by internationally-recognized premium car brands for use in consumer vehicles as well as by other commercial and industrial leaders for a wide range of use cases. For more information, visit innoviz-tech.com