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Israeli lidar maker Innoviz wins $4 billion Volkswagen contract for millions of sensors
PUBLISHED TUE, AUG 2 2022
John Rosevear
https://www.cnbc.com/2022/08/02/innoviz-wins-4-billion-dollar-volkswagen-lidar-contract.html
KEY POINTS
- Innoviz will supply lidar units directly to Volkswagen for eight years starting in mid-decade.
- Innoviz expects to supply units for between 5 million and 8 million Volkswagen Group vehicles in total.
- The company expects to realize about $4 billion in revenue over the term of the deal.
Israeli lidar maker Innoviz announced Tuesday it has won a contract to supply lidar units and related software for autonomous driving to a unit of Volkswagen, in a deal worth $4 billion in sales over eight years.
Under the deal, Volkswagen will incorporate Innoviz’s latest automotive lidar unit and its proprietary perception software into vehicles across its portfolio.
The deal will run for eight years starting “mid-decade,” when the first Innoviz-equipped Volkswagen Group vehicles are expected to ship. Innoviz expects to supply lidar units for between 5 million and 8 million Volkswagen Group vehicles over that eight-year term.
Innoviz’s shares surged on the news, closing up over 18% on Tuesday.
Lidar — meaning, light detection and ranging — uses an invisible laser beam to scan surroundings and construct a detailed three-dimensional image. The sensors are considered critical components of most autonomous-driving systems, which compare the images generated by lidar with a detailed three-dimensional map to double-check the vehicle’s precise location.
As the costs of development and production have fallen, the sensors have seen broader adoption across vehicles and driver-assist systems – leading to fierce competition between a slew of lidar startups for automaker business.
Innoviz, which went public via a merger with a special purpose acquisition company in late 2020, had previously announced the deal but had not revealed its client. The lidar maker said in May that it had won a deal with “one of the largest vehicle manufacturers in the world” to “become its direct lidar supplier across multiple brands.”
Innoviz’s CEO, Omer Keilaf, said the company’s deal with Cariad, Volkswagen’s software company, was struck after more than two years of testing and due diligence.
“I think one of the most challenging parts was the fact that we are coming with a new product, a new generation [of lidar units], and we had to build confidence on their side to see that it’s up and running. That was part of what we did in the last year,” Keilaf told CNBC. “The second part was getting Volkswagen to feel comfortable with Innoviz becoming a direct supplier.”
The process involved in becoming a direct supplier to a major automaker is an arduous one. Generally, an automaker will put a potential new supplier’s product through extensive quality and durability tests. It will also do due diligence on the potential supplier’s business, accepting the supplier only after it’s confident that the company will be around and financially stable for the length of the contract.
Selling directly to an automaker like Volkswagen is new ground for Innoviz. The company has an existing deal with BMW, but that agreement has established auto supplier Magna International manufacturing and delivering Innoviz’s lidar units to the automaker as something of a go-between.
For Volkswagen, the lidar units will be made by contract manufacturers using tooling provided by – and working directly with – Innoviz, which will then supply the completed units to Volkswagen itself.
Keilaf said that streamlined relationship offers advantages to both Innoviz and Volkswagen.
“Eventually, it was a good fit, because the new product is really intriguing in terms of performance and price,” Keilaf said. “And the fact that we are a direct supplier also is very helpful in terms of bringing the cost down. It’s less of a three-way kind of program.”
CARIAD SE Selects Innoviz as Direct LiDAR Supplier for the Segment of Automated Vehicles Within the Volkswagen Brands
August 02 2022
https://ih.advfn.com/stock-market/NASDAQ/innoviz-technologies-INVZ/stock-news/88733675/cariad-se-selects-innoviz-as-direct-lidar-supplier
Innoviz will provide InnovizTwo LiDAR sensors and perception software
Summary
- LiDARs are a critical element of advanced driver assist systems (ADAS) and autonomous vehicles (AVs). CARIAD selected Innoviz to be its supplier and deliverer of advanced ADAS features for the segment of automated vehicles within the Volkswagen brands.
- CARIAD selected the InnovizTwo next-generation LiDAR sensor and perception software.
- This is Innoviz's third design win with a major automaker and first deal as a Tier-1 supplier.
TEL AVIV, Israel, Aug. 2, 2022 /PRNewswire/ -- Innoviz Technologies Ltd. (NASDAQ: INVZ) (the "Company" or "Innoviz") announced today that its recent design win is with CARIAD SE.
"We are thrilled to work with the CARIAD team and be a supplier of LiDAR sensors and perception software to support safe mobility for vehicles launching from the middle of the decade," said Innoviz CEO and Co-Founder, Omer Keilaf. "CARIAD is a leading player in the transformation of the whole automotive space. We are proud to be part of their mission."
With its third design win, Innoviz's forward-looking order book was updated to $6.6 billion.
Footage of InnovizTwo LiDAR performance can be found here:
Innoviz Sets Second Quarter 2022 Conference Call for Wednesday, August 10 at 9:00 a.m. ET
July 27 2022
https://ih.advfn.com/stock-market/NASDAQ/innoviz-technologies-INVZ/stock-news/88685653/innoviz-sets-second-quarter-2022-conference-call-f
TEL AVIV, Israel, July 27, 2022 /PRNewswire/ -- Innoviz Technologies (NASDAQ: INVZ), a leading provider of high performance, solid-state LiDAR sensors and perception software, will host a conference call and webinar on Wednesday, August 10 at 9:00 a.m. Eastern time (6:00 a.m. Pacific time) to discuss its operational and financial results for the second quarter ended June 30, 2022. Operational and financial results will be issued in a press release prior to the call.
The Company will host a zoom web conference on August 10 at 9:00a.m. ET to discuss the results, followed by a question-and-answer session for the investment community. Investors are invited to attend by registering in advance: here. All relevant information will be sent upon registration.
A replay of the webinar will also be available shortly after the call in the Investors section of Innoviz's website for 90 days.
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 elected by two 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 http://www.innoviz-tech.com.
Join the discussion: Facebook, LinkedIn, YouTube, Twitter
Investor contact:
Maya Lustig
Innoviz Technologies
+972 54 677 8100
maya.lustig@innoviz-tech.com
Cision View original content:https://www.prnewswire.com/news-releases/innoviz-sets-second-quarter-2022-conference-call-for-wednesday-august-10-at-900-am-et-301594187.html
Japan Post Unveils Cutting-Edge Initiative to Digitize Roads for Digital Maps Using Innoviz LiDAR
The Initiative Enables Next-Generation Services Including Autonomous
July 20 2022
https://ih.advfn.com/stock-market/NASDAQ/innoviz-technologies-INVZ/stock-news/88638276/japan-post-unveils-cutting-edge-initiative-to-digi
TEL AVIV, Israel and TOKYO, July 21, 2022 /PRNewswire/ -- Innoviz Technologies Ltd. (NASDAQ: INVZ) (the "Company" or "Innoviz"), a leading provider of high-performance, automotive-grade LiDAR sensors and perception software, today announced that Japan Post, a special private company under the jurisdiction of the Ministry of Internal Affairs and Communications, offering postal and logistics services as well as banking and life & non-life insurance agency services, aims to construct digital maps with Innoviz's high-performance InnovizOne LiDAR sensor, paving the way for next-generation smart city services such as autonomous driving and unmanned delivery.
InnovizOne on Japan Post Vehicles, June 2022
Japan Post announced their plans to install InnovizOne LiDAR sensors on their postal delivery cars on July 20, 2022, during Scrum Ventures' SmartCityX Conference in San Francisco, which brought together more than 150 best-in-class founders, VCs, and stage-agnostic startups from across the globe. The InnovizOne equipped delivery vehicles will generate detailed digital maps that gather information such as changes in roads and buildings along delivery routes. These detailed maps will serve as foundational data to enable next-generation services for Japan's residents, such as automated driving and more.
The smart cities market is expanding rapidly, and Autonomous on-road delivery vehicles are a near-term priority for cities that are increasingly looking for efficient ways to move people and goods. The Japanese market for smart city technologies is expected to grow from nearly $45 million USD in 2021 to over $93 million USD by 2027.
"Cities are evolving and re-emerging stronger than ever from the pandemic," said Michael Proman, Managing Director at Scrum Ventures and SmartCityX. "The collaborations between our Japanese partners and participating stage-agnostic startups transcend multiple smart city categories and represent some of the most thoughtful and innovative solutions being deployed around the world. We're thrilled to help further these efforts."
"We greatly appreciate such an innovative approach full of possibilities to solve local issues across the country using the solution from Innoviz," said Executive Officer at Japan Post, Yoshihiro Gomi. "We hope that the combination of our assets and InnovizOne LiDAR sensor will lead to the creation of a new business."
"Our innovative collaboration with Japan Post highlights the versatility of the Innoviz LiDAR and this is another example of new ways to use LiDAR in smart cities," said VP Asia at Innoviz Technologies, David Oberman. "We are grateful for the resources and support from Scrum Ventures to accelerate deployment of our InnovizOne LiDAR sensors for constructing digital maps and bringing value to Japan residents."
Scrum Ventures' SmartCityX program aims to explore new innovations that can unlock new value through partnership with companies, local governments, and startups. Thirteen Japanese corporations representing a variety of industries took part in this year's event. InnovizOne was selected by Japan Post due to its ability to generate precise, high-resolution 3D point cloud data required for building the digital map. Following a successful demonstration last month, the two companies have begun to verify the needs and use of Japan Post data.
About Japan Post
Japan Post is a company that operates postal services and post offices in Japan, aiming to create new value in cooperation with companies outside the Japan Post Group by combining its post offices and delivery networks, one of its greatest strengths, with digital technologies to assist customers in cherishing safe, secure, and enriched lives in their communities.
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
Join the discussion: Facebook, LinkedIn, YouTube, Twitter
Media Contact
Media@innoviz-tech.com
Investor Contact
Maya Lustig
Innoviz Technologies
+972 54 677 8100
Investors@innoviz-tech.com
Innoviz Technologies and Joowon Industrial Sign Distribution Agreement to Accelerate Development of LiDAR in the South Korean Market
July 12 2022
https://ih.advfn.com/stock-market/NASDAQ/innoviz-technologies-INVZ/stock-news/88572604/innoviz-technologies-and-joowon-industrial-sign-di
TEL AVIV, Israel and SEONGNAM CITY, South Korea, July 12, 2022 /PRNewswire/ -- Innoviz Technologies Ltd. (NASDAQ: INVZ) (the "Company" or "Innoviz"), a leading provider of high-performance, automotive-grade LiDAR sensors and perception software, and Joowon Industrial, a distributor and supplier of world-class testing equipment, today announced their cooperation to drive sales for Innoviz's LiDAR in the Korean market.
Powerline inspection and analysis is currently a highly critical and highly manual process for most utilities, requiring a large number of inspectors who physically inspect the utility's service area and the condition of the lines. Inspectors would look for things like worn components, hot spots that could indicate trouble, and potential interference from vegetation. This is a very expensive and time-consuming process that must be done regularly to ensure that the power grid remains reliable.
Joowon Industrial's TADS (Thermography Auto analysis Diagnosis System) is an automated power distribution line inspection and analysis system. According to Joowon, TADS enables electric contracting companies to save ~80% on the inspection and management of overhead power distribution lines. The next generation of Joowon's TADS system will use Innoviz's LiDAR to quickly and accurately build a 3D model of the power lines and surrounding vegetation, resulting in further cost reduction and quality improvement of powerline inspection.
Joowon will serve as a distributor for Innoviz Technologies to accelerate the adoption of the company's LiDAR solutions for a wide range of applications across industries from industrial machinery to heavy equipment in the Korean market and beyond.
Innoviz Co-Founder and CEO, Omer Keilaf, expressed his excitement about the formation of the new partnership with Joowon Industrial: "The Korean market is a very important one for Innoviz, and I am especially happy that we are starting our cooperation with an important LiDAR application that is important for the entire electric power market in Korea, and very relevant globally. We are pleased to partner with Joowon and have faith in its capability to establish a firm presence for Innoviz in the Korean market. We look forward to a fruitful collaboration with them."
Mr. Lee Un Myung, Joowon Industrial's President, added: "We have chosen Innoviz LiDAR for our projects, as they are a market leader in the LiDAR category, with several design wins with multiple leading automotive OEMs already under their belt. We are impressed by Innoviz LiDAR's extremely high-performance and resolution, and its ability to clearly detect and record details of each scene that other LiDARs simply cannot detect, such as electric poles and electric wires, for automatic overhead power distribution line inspection. We too look forward to a long and successful relationship with Innoviz."
About Joowon Industrial
Joowon Industrial Co., Ltd. is a distributor (agent) supplying world-class test equipment to customers in various fields in Korea. In particular, we are focusing on product sales activities to customers of the global environment, automation, safety, and energy sectors to improve the quality of life in the 21st century.
In partnership with KEPCO (Korea Electrical Power Corporation), Joowon is one of the leading manufacturers and developers of advanced equipment of thermal imaging solutions for inspection of customers' facilities in South Korea and several countries around.
Joowon is committed to technology development and innovation to provide the best quality products and future-oriented solutions to our customers.
For more information, visit www.joowon.co.kr
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.
Join the discussion: Facebook, LinkedIn, YouTube, Twitter
Media Contact
Media@innoviz-tech.com
Investor Contact
Maya Lustig
Innoviz Technologies
+972 54 677 8100
Investors@innoviz-tech.com
Innoviz Technologies to Host Workshop with NVIDIA during ECCV 2022
July 06 2022
https://ih.advfn.com/stock-market/NASDAQ/innoviz-technologies-INVZ/stock-news/88531783/innoviz-technologies-to-host-workshop-with-nvidia
Key Points
- Innoviz selected to host 3D perception workshop with NVIDIA during the European Conference on Computer Vision (ECCV), running October 23-27, 2022 in Tel Aviv
- During the workshop, leaders from the field of autonomous driving will present state-of-the-art techniques for 3D perception
TEL AVIV, Israel, July 6, 2022 /PRNewswire/ -- Innoviz Technologies Ltd. (NASDAQ: INVZ) (the "Company" or "Innoviz"), a leading provider of high-performance, automotive-grade LiDAR sensors and perception software, announced it will host a workshop on 3D perception for autonomous driving with NVIDIA at this year's European Conference on Computer Vision ("ECCV"), which will be held at Tel Aviv's Expo International Convention Center from October 23-27, 2022.
ECCV is a premier event dedicated to the latest advances in computer vision, featuring keynote speakers from the world's top technology companies and academic institutions. Innoviz and NVIDIA's workshop will discuss unique challenges and advantages associated with the use of 3D data for autonomous driving and identify key requirements for perception software to process large, complex LiDAR datasets. As part of the workshop, leading experts from organizations including MIT, Waymo and Waabi will join Innoviz and NVIDIA to discuss recent trends and research in the field. Further details on the workshop are available on the workshop's website.
Earlier this year, Innoviz announced its continued collaboration with NVIDIA to develop its InnovizTwo LiDAR model for the NVIDIA DRIVE Sim.
"We're thrilled to host this workshop with NVIDIA and demonstrate why 3D perception is critical for safe autonomous driving," said Omer Keilaf, Co-Founder and Chief Executive Officer at Innoviz. "ECCV is one of the top computer vision events in the world, and this year it's in our home country of Israel, which we're proud to say is a hub for mobility innovation. This is a great opportunity for us to demonstrate the high quality of our next-generation InnovizTwo LiDAR and showcase the work we're doing with industry peers to solve the autonomous vehicle industry's toughest perception challenges."
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.
Visionary.ai and Innoviz Partner to Improve the Power and Accuracy of Machine Vision
June 22 2022
https://ih.advfn.com/stock-market/NASDAQ/innoviz-technologies-INVZ/stock-news/88423718/visionary-ai-and-innoviz-partner-to-improve-the-po
Combining Visionary.ai's Camera Imaging Software and Innoviz's LiDAR and Perception Software Enhances Performance in Low-Light Conditions
JERUSALEM and TEL AVIV, Israel, June 22, 2022 /PRNewswire/ -- Visionary.ai, a developer of software-based image signal processor (ISP) technology, and Innoviz (NASDAQ: INVZ), a leading provider of high-performance, automotive-grade LiDAR sensors and perception software, today announced a new partnership to combine Visionary.ai's imaging technology with Innoviz's LiDAR sensors and perception software. Combined, the two technologies aim to improve 3D machine vision performance for a wide range of applications including robotics, smart cities, and drones.
Visionary.ai's True Night Vision technology leverages Artificial Intelligence (AI) to dramatically enhance image quality for machine vision, especially in challenging and low-light conditions. Whereas most cameras use a hardware ISP (image signal processor), Visionary.ai's revolutionary approach uses a software ISP to capture cutting-edge image quality, in real time.
Utilizing Innoviz's high-resolution LiDAR, the partnership will add 3D image processing to Visionary.ai's significantly advanced 2D ISP capabilities to develop and enhance a comprehensive 3D image of a scene.
Harnessing the two companies' powerful technologies will deliver highly accurate 3D imaging, especially during challenging imaging conditions such as: extreme low light, High Dynamic Range (HDR), heavy rain or fog, high motion, and sudden changes in intensity, such as flashing headlights.
This collaboration comes at a time of rapid market growth for Innoviz. One of the largest global vehicle manufacturers recently selected Innoviz to become its direct LiDAR supplier across multiple brands, increasing Innoviz's forward-looking order book by $4 billion to $6.6 billion USD.
Commenting on the partnership, Visionary.ai CEO Oren Debbi said, "Machine vision is easy to achieve in situations of good lighting, but 90% of machine vision failures occur in situations of difficult visibility, specifically, low light and HDR. By improving accuracy in difficult imaging circumstances, we're able to offer game-changing technology, that together with Innoviz's LiDAR technology can improve machine vision applications across many applications."
"Visionary.ai's software-based ISP enables cameras to achieve cutting-edge image quality in difficult conditions. Together with Innoviz's LiDAR and Perception Software, we can improve detection performance even further," said Omer Keilaf, CEO and Co-Founder at Innoviz. "We are pleased to join forces to offer an advanced machine vision solution to many applications that need it for safety."
About Visionary.ai
Visionary.ai empowers cameras to achieve the next generation of image quality. Their software-based ISP (Image Signal Processor) leverages AI on the Edge to achieve market-leading performance for a wide range of imaging tasks. Their technology has applications across several industries, including consumer electronics, drones, robotics, mobility, and medical imaging. For more information, visit www.visionary.ai.
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.
The battle for LiDAR: Omar Kielf vs. Elon Musk
20 June, 2022
https://techtime.co.il/2022/06/20/lidar-5/
The LiDAR Coalition, led by Innoviz CEO Omar Kilef and Velodyne CEO Dr. Ted Tewkesbury, seeks to promote legislation encouraging the use of LiDAR in vehicles. In front of them stands Elon Musk, who believes that this sensor is a "blessing to undo"
The world's leading LiDAR sensor manufacturers, including the Israeli company Innoviz, announced the establishment of a joint consortium, The LiDAR Coalition, with the aim of promoting the adoption of LiDAR technology in driver assistance systems (ADAS) and autonomous driving, and in road infrastructures such as traffic lights. The coalition will make efforts to persuade U.S. decision makers, legislators, and regulators to recognize the need to integrate LiDAR sensors into safety systems, and to enshrine this in law, regulations, and as a category in the safety rating of vehicle models. This is in order to improve the performance of these systems, especially in poor visibility conditions, and to reduce road carnage and damage to pedestrians.
The coalition formulated a position paper drafted by Innoviz's Executive Director Omar Kilf and Velodyne Director General Dr. Ted Tewkesbury, which stated: "In recent years, we have witnessed a tragic increase in the number of pedestrians killed on U.S. roads. We must adopt innovative technologies that will help prevent traffic accidents and reverse this trend. That's why we're forming the Coalition of Companies to promote, through lobbying among decision makers, the adoption of life-saving technology that has the greatest potential to protect the safety of pedestrians."
LiDAR saves lives
The document presents official data, according to which there was a 46% jump in the number of pedestrians killed in road accidents between 2011 and 2020: from 4,457 in 2011 to 6,516 fatalities in 2020. The National Road Safety Authority (NHTSA) in the US reported that in 2021 there was a very large increase in the number of fatalities: 42,915 people were killed in traffic accidents. The breakdown of the data shows that 75% of pedestrians were killed in traffic accidents that occurred at dusk or at night. "This data shows that to protect vulnerable road users, we need to adopt solutions specifically tailored to dark conditions."
LiDAR manufacturers point to a technological flaw that impairs the ability of safety systems, such as automatic emergency braking, frontal collision warning, lane deviation, and more, to detect pedestrians in dark conditions. IIHS, which is owned and established by all U.S. insurance companies to reduce the number of road accidents, recently assessed that automatic radar or camera-based emergency braking systems (PAEB) failed to improve the ability to detect pedestrians in dark conditions — compared to vehicles not equipped with PAEB systems.
A LiDAR sensor is an active optical scanning sensor that provides 3D vision capability. The LiDAR system transmits short laser signals in the form of a scan, and measures the direction and return times of the signals. The processor in the sensor produces a "dot image" of the vehicle's surroundings from these measurements. This image is analyzed by an orientation algorithm that identifies the objects in the vehicle's environment.
Since this is an active system based on the measurement of initiated radiation, the detector is not affected by the lighting conditions. It operates in day and night conditions and is not affected by blinding light. Previously, LiDAR sensors were mainly used in military and space industry applications, as they were very expensive. Today, many companies operate, including Innoviz, which produce new sensors at a price level suitable for mass integration into the automotive industry.
Kielf and Tewkesbury write that current-generation LiDAR sensors, "have a high resolution that allows them to detect stationary pedestrians. We believe that LiDAR should be a necessary component of any safety system designed to identify pedestrians. We cannot remain complacent in the face of the dismal data: not using LiDAR in collision prevention systems means ignoring half of the equation. The coalition will work so that the administration recognizes these facts and that this recognition is reflected in policy."
Musk flagged LiDAR as a threat to Tesla
The biggest opponent of the idea is Elon Musk, founder and CEO of Tesla, who repeatedly argues that there is no need to use LiDAR systems. He claimed that "the use of LiDAR has become more expensive and unnecessary" and even called it a "blessing to fool's errand". Musk believes that in-vehicle sensing systems can only be based on cameras, even for fully autonomous driving. In his opinion, it is possible to overcome the poor functioning of the cameras in difficult visibility conditions by improving the algorithm for deciphering the image and using neural networks.
In 2019, during a presentation on Tesla's activities in the field of autonomous driving, he stated: "Anyone who relies on LiDAR – is lost. Lost. This is an expensive and unnecessary sensor. Eventually the automakers will give it up. You'll see." It is worth noting that his opinion is unacceptable to the automotive industry. The LiDAR is a significant component of the autonomous vehicle developed by Google, it is integrated into GM's Auto-Cruise system, BMW and another major automaker have decided to acquire Innoviz's LiDAR sensors, and even Mobileye has developed a LiDAR sensor in collaboration with Intel for its autonomous driving package.
By the way, Inviz's business model is based on the fact that the cost of the sensor meets the conditions of automakers and does not create an unnecessary load on pricing. About a year ago, Tesla test vehicles were spotted on the roads of the United States with a Luminar LiDAR system installed on their roof. The industry thought that Tesla had withdrawn from the absolute veto over LiDAR systems, but a few months ago it became clear that it had not yet: in the patent application that Tesla recently filed, it was written that the LiDAR system is used to train and validate the autonomous driving system – and is not intended to be a component of the sensing system itself.
Innoviz Technologies Ltd (INVZ)
Thursday, June 16 | Deutsche Bank Global Auto Industry Conference 2022
https://kvgo.com/db-global-auto-industry/innoviz-technologies-ltd-june-2022
Previously announced on Twitter
Im going to give a presentation on $INVZ at the @DeutscheBank auto conference. It will be webcasted and you can register to see it. Thursday 12:50 ET https://t.co/NoOvVBQRMU pic.twitter.com/Tzg4GzwhKX
— Omer Keilaf (@KeilafOmer) June 16, 2022
Repost from Stocktwits, courtesy of Nemco
6/13/2022, 09:00 AM
Innoviz appointed last week Brijesh Shukla as country manager of Japan. Brijesh Shukla, who has twenty years of experience in direct customer-facing roles for companies such as Nissan, Honda, Toyota and Mitsubishi, will represent and manage Innoviz's growing business in Japan.
Yesterday, Brijesh Shukla gave his first presentation on Innoviz LiDAR and perception software at SmartCityX (University of Creativity, Japan)
Transcript of Innoviz Q1 2022 Financial Results Call
Date: May 11, 2022
Link https://d1io3yog0oux5.cloudfront.net/_829f9b9eae112001075e96b45dd1e765/innoviz/db/1112/9777/file/Transcript+11.5.2022+Q1+2022+earnings+call_FINAL.pdf
Delivering the holy grail: Safe, highly-automated consumer vehicles for sale
Next year top automakers will sell luxury consumer vehicles that include safe, hands-free driving features. LiDAR will take these automated driving systems to the next level, and re-establish trust with consumers who stand to benefit from these life-saving technologies. Innoviz Technologies CEO and Co-founder Omer Keilaf discusses the long road to making automotive-grade LiDAR, in order to help car makers like BMW achieve Level 3 automation for the first time. What’s next? The tech is ready. Now it’s time to integrate it into cars around the world and properly educate consumers so they love, not loathe, automated driving again.
Speaker
Omer Keilaf | Co-Founder & CEO, Innoviz Technologies
Omer Keilaf has spent 20+ years driving cutting edge technologies from inception to commercialization. As the co-founder and CEO of Innoviz Technologies, Keilaf is helping enable the commercialization of autonomous vehicles by providing high-performance LiDAR at mass market prices. He has overseen the company’s tremendous success as it overtook older, more established LiDAR developers to earn a design win with BMW, marking the industry’s first major design win for series production of autonomous vehicles. Last year, Keilaf took Innoviz public in a SPAC merger with Collective Growth Corporation, with a valuation of $1.4 billion. Prior to co-founding Innoviz, Omer served as an officer in an elite technological unit of the Intelligence Corps of the Israel Defense Forces. His speciality disciplines are in opto-mechanics, electrical engineering, and MEMS. He holds a BSc and MSc in Electrical Engineering and an MBA, all from Tel Aviv University.
Link to video presentation https://tcrn.ch/3sWBK62
Innoviz Bolsters Sales Leadership with New Management Team Appointments
May 24 2022 - 04:01PM
PR Newswire (US)
https://ih.advfn.com/stock-market/NASDAQ/innoviz-technologies-INVZ/stock-news/88201646/innoviz-bolsters-sales-leadership-with-new-managem
Appoints Scott Craig as Country Manager, U.S. and Brijesh Shukla as Country Manager, Japan
TEL AVIV, Israel, May 24, 2022 /PRNewswire/ -- Innoviz Technologies Ltd. (NASDAQ: INVZ) (the "Company" or "Innoviz"), a leading provider of high-performance LiDAR sensors and perception software, today announced a series of management team appointments to bolster its sales leadership experience and support its continued growth.
Tali Chen, Chief Business Officer, Innoviz Technologies
Innoviz has appointed Tali Chen as Chief Business Officer (CBO), effective immediately. Chen will oversee the Company's business development activities, establish sales targets and KPIs, and implement, report and review strategic sales and marketing plans. Chen replaces Oren Rosenzweig, who is stepping down from his CBO and Board roles, effective immediately, to pursue new opportunities. Rosenzweig will continue in an active advisory role through summer 2022 to ensure a smooth transition.
Chen most recently served as CBO for DSP Group, a global leader in wireless communications for smart-enabled devices. In this role, she managed global sales, marketing, investor relations and business growth operations. Chen also spearheaded strategic relations and partnerships with Fortune 100 & 500 corporations and led complex, multi-million-dollar sales cycles encompassing preliminary discussions, contract negotiations, deal closing, and partnership roadmap development. Prior to her tenure at DSP Group, Chen served in corporate development roles for RADA Electronics, a global corporation that develops, manufactures and markets advanced military systems.
The Company also announced that it has appointed Scott Craig and Brijesh Shukla as country managers of the U.S. and Japan, respectively. Craig brings decades of experience in the semiconductor and automotive industries, previously serving as the Executive Director of Automotive Strategy and OEM Business Development at onsemi where he was responsible for OEM business development at Ford Motor Company worldwide, Stellantis and Argo – worldwide. Craig will be responsible for sales and business development of Innoviz LiDAR products and associated software in all industry verticals in North America. Shukla, who has twenty years of experience in direct customer-facing roles for companies such as Nissan, Honda, Toyota and Mitsubishi, will represent and manage Innoviz's growing business in Japan.
Innoviz CEO and Co-Founder Omer Keilaf said, "We are excited about our newest appointments as we continue to expand our automotive business and begin penetrating the non-automotive industry in parallel. Tali brings a breadth of expertise critical to our growth strategy, including an impressive track record of pipeline and revenue creation through market share expansion. She will be a great asset to our Company as we seek to monetize our best-in-class products and drive sales. Similarly, appointing Scott and Brijesh is the logical next step to capitalize on our growth opportunities following Innoviz's multi-year, multi-billion-dollar nomination with a global vehicle manufacturer. We look forward to benefitting from their vast sales and business generation experience as we aim to break more new ground."
Chen commented, "I'm thrilled to be joining Innoviz. The Company is, in my opinion, a significant player in the LiDAR field, and its recent milestone nomination is yet another testament to its leadership. With Innoviz's cutting-edge technology and breadth of partnerships, the Company has many potential avenues to drive revenue. I look forward to building on this foundation and reaching even greater heights."
Keilaf continued, "We are grateful for Oren's major contribution in co-founding Innoviz and helping lead it to where it is today. Oren had an important role in Innoviz's commercial success and in shaping our position in the market. I wish Oren continued success in his future endeavors."
Oren Rosenzweig commented, "Co-founding Innoviz over six years ago and leading the Business Development, Sales and Product activities in the time since have been some of the most rewarding experiences of my life. I am grateful for the opportunity to be part of this journey. We took Innoviz from an idea, to one of the leading players in the emerging Autonomous Driving industry. At this point in the life of the company, and in mine, it is the right time to hand over responsibilities to an extremely talented group of people. I will support Tali and the leadership team to ensure a successful transition and I wish the incredible Innoviz team continued success."
About Tali Chen
Tali Chen previously served as Chief Business Officer at DSP Group. Prior to this role, she served as Chief Marketing Officer, where she managed the IoT business line, European business development, sales and marketing, US operations and corporate management, and before that, served as CVP of Corporate Development. Before joining DSP Group, Tali was Director of Corporate Development at RADA Electronic Industries, a Major in the Israeli Defense Forces, and the founding manager of the "Atidim for Industry" program. Tali holds an LLB in Law and Government with honors from the Interdisciplinary Center (IDC) of Herzliya and an MBA from Technion Israel Institute of Technology.
About Scott Craig
Scott Craig previously served as the Executive Director of Automotive Strategy & OEM Business Development at onsemi, where he was responsible for the Company's automotive strategy and OEM business development. During his tenure, he has led the regional and global teams, contributing to double digit growth within the Americas. Prior to joining onsemi, he served as the Global Account Executive at Infineon, where he was responsible for business development at Ford Motor Company worldwide, leading the promotion of innovation and collaboration between the two organizations. Craig holds a BA degree in physics from Kalamazoo College, a BS degree in electrical engineering from Wayne State University, and is working on a MA of Divinity from Fuller Seminary.
About Brijesh Shukla
Brijesh Shukla previously served as Project & Program Manager at Valeo Automotive (Comfort and Driving Assistant System). He has a background in engineering and business, with most of his career involved in the techno-commercial side, working with Japanese automotive OEM accounts. Over the past two decades, he has been actively involved in the tech-enabled industry. He has a deep understanding of various ADAS products, including LiDAR. Before joining Valeo Japan, he worked in Continental Japan, and in Denso Japan. Brijesh holds a BS degree in Mathematics & Physics, a Master's in Computer application and MBA in operation management.
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.
Join the discussion: Facebook, LinkedIn, YouTube, Twitter
Media Contact
Media@innoviz-tech.com
Investor Contact
Maya Lustig
Innoviz Technologies
+972 54 677 8100
Investors@innoviz-tech.com
Innoviz Technologies Reports First Quarter 2022 Financial Results
May 11 2022 - 07:00AM
PR Newswire (US)
https://ih.advfn.com/stock-market/NASDAQ/innoviz-technologies-INVZ/stock-news/88075377/innoviz-technologies-reports-first-quarter-2022-fi
TEL AVIV, Israel, May 11, 2022 /PRNewswire/ -- Innoviz Technologies (Nasdaq: INVZ) (the "Company" or "Innoviz"), a technology leader of high-performance, solid-state LiDAR sensors and perception software, today reported its financial results for the first quarter ended March 31, 2022 and updated its forward-looking guidance, as well as provided updates on commercial traction, technology leadership, and corporate development.
Management Commentary
"We made meaningful progress executing our strategy during the first quarter, which culminated in our recent announcement of being selected for series production with one of the world's three largest vehicle groups," said Omer Keilaf, CEO and Co-Founder of Innoviz. "This marks our third design win for series production, our first for InnovizTwo, and also our first as a direct Tier1 supplier. This is a major achievement that we believe will propel us to a market leading position and accelerate our ability to potentially win many other opportunities. Being selected out of many other LiDAR and Tier 1 solutions is a vote of confidence for our technology, product and company."
"We are implementing our strategy systematically. The automotive industry is at a unique inflection point and we believe that with this win we are meeting it with the right momentum. Our objective is to secure several additional series production deals in the coming years to provide us with meaningful and sustainable revenues. We will also build our production capacity for our two new products, InnovizTwo and Innoviz360, to quickly penetrate the non-automotive market, which we believe is in great need of solutions like ours. Our strategy is designed to maximize our long-term market share as we grow our revenues short-term and deliver profitability in the coming years."
Commercial Progress Resulting from First Quarter Activities
Following two years of working closely with the customer, we plan to incorporate InnovizTwo LiDAR and Innoviz Perception Software into a new platform that will serve multiple auto brands over the next decade.
For Innoviz, this new nomination marks:
- Third major series production design win in the automotive space.
- First design win for series production with the new generation Innoviz product, InnovizTwo.
- First design win for high volume series production with Innoviz as a direct supplier.
- Selection for a high-volume project by one of the world's largest vehicle groups.
- Increase of forward-looking order book by $4 billion to a total of $6.6 billion (not including NRE, samples during development, production tools, and post-launch software services).
- A surge of confidence made by one of the largest vehicle groups in the world is likely to influence many other car makers.
- A joint announcement is expected following the first delivery milestone in the coming months.
Expansion and Delivery
On a continuous quest to grow the Company's market share and revenues, Innoviz is working on many fronts:
- RFI/RFQ funnel: There are currently 12 different customers at different stages of the RFI/RFQ process. The company believes that the recently announced design win will accelerate these decisions to select Innoviz.
- China: Innoviz recently announced a collaboration with China- and Germany-based LiangDao, a global leading system provider of LiDAR sensing, to accelerate the introduction of series production solutions of high-resolution LiDAR for the Chinese market, based on InnovizTwo.
- Production readiness: Targeting completion of InnovizOne production validation toward the launch of Innoviz's existing series production programs next year.
- Sales and revenues: Innoviz is currently developing high-volume production tools for its new products, InnovizTwo and Innoviz360. Both products are expected to achieve improved margins and fast market penetration due to their ability to provide a significantly stronger product fit compared to other solutions in the market today.
Corporate Development
Increased employee headcount by 15 people in the first quarter of 2022, bringing the Company's total number of employees to 419 as of March 31, 2022. The increase in headcount was driven by the need to support current and upcoming programs and new product development. Approximately 70% of the Company's employees are members of the Company's research and development team.
First Quarter 2022 Financial Results
Revenues for Q1 2022 were $1.8 million, compared to $0.7 million in Q1 2021. The Company expects InnovizOne sales to continue to increase this year and is also planning to sell the first samples of InnovizTwo this year.
Operating expenses for Q1 2022 were $31.1 million, an increase from $19.7 million in Q1 2021. Operating expenses in Q1 2022 included $4.7 million of share-based compensation compared to $1.8 million of share-based compensation in Q1 2021. The increase in operating expenses was primarily due to the increase in the number of our employees and in share-based compensation.
Research and development expenses for Q1 2022 were $22.8 million, an increase from $16.7 million in Q1 2021. Research and development expenses in Q1 2022 included $2.7 million attributable to share-based compensation compared to $1.3 million attributable to share-based compensation in Q1 2021.
Innoviz had approximately $275 million in cash, short term deposits and marketable securities as of March 31, 2022 compared to approximately $304 million as of December 31, 2021. We believe our debt-free balance sheet and strong cash assets will enable us to continue executing our strategy. We remain focused on using our cash to make strategic investments in research and development, sales and marketing, and production ramp-ups.
Guidance
As a result of Innoviz's new design win with one of the world's largest vehicle groups, Innoviz is updating its guidance as follows:
- Innoviz is increasing its forward-looking order book guidance by more than 150% to $6.6 billion, up from $2.6 billion projected last quarter.
- Innoviz currently has 12 prospective customers in RFIs and RFQs stages, up from 10 at our last earnings call.
- Innoviz expects to achieve its stated goal to secure 10 pre-production programs during 2022. To-date the company has secured 9.
Conference Call
Innoviz management will hold a web conference today, May 11, 2022, at 9:00 a.m. Eastern time (6:00 a.m. Pacific time) to discuss these results. Innoviz CEO Omer Keilaf and CFO Eldar Cegla will host the call, followed by a question-and-answer session.
Investors are invited to attend by registering in advance here. All relevant information will be sent upon registration.
A replay of the webinar will also be available shortly after the call in the Investors section of Innoviz's website for 90 days.
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.
Join the discussion: Facebook, LinkedIn, YouTube, Twitter
Media Contact
Media@innoviz-tech.com
Investor Contact
Maya Lustig
Innoviz Technologies
+972 54 677 8100
Investors@innoviz-tech.com
Innoviz Selected by One of the Largest Global Vehicle Groups to be its Direct LiDAR Supplier for Series Production Vehicles; Increases Forward-Looking Order Book by $4 Billion
May 02 2022 - 07:00AM
PR Newswire (US)
https://www.prnewswire.com/news-releases/innoviz-selected-by-one-of-the-largest-global-vehicle-groups-to-be-its-direct-lidar-supplier-for-series-production-vehicles-increases-forward-looking-order-book-by-4-billion-301537054.html
TEL AVIV, Israel , May 2, 2022 /PRNewswire/ -- 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.
"We are proud to deliver our outstanding InnovizTwo LiDAR and perception software as the direct supplier to support this new series production program," said Innoviz CEO and Co-Founder Omer Keilaf. "Being selected by a large-scale multi-brand global vehicle maker is a significant catalyst for Innoviz and we expect this will affect the entire industry which has been waiting for a decision of this magnitude. We are expecting the scope of this deal to grow even further as additional car brands within the group adopt our platform. In addition, we anticipate more car makers to follow this decision in their autonomous vehicle programs."
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.
BMW LAUNCHED THE BMW 7, WHICH FEATURES THE INVIZ SENSOR
April 24, 2022
https://techtime.co.il/2022/04/24/innoviz-31/
(Translated by Google from Hebrew to English)
THE LEADING VEHICLE REPORTER, CHRIS TSUI, MARVELED AT THE ADAS SYSTEMS AND AUTONOMOUS DRIVING CAPABILITIES IN THE NEW SERIES 7, WHICH RELY ON INVIZ'S SENSOR. HE SUMMED UP THE EXPERIENCE: "THE CARS IN THE NEW SERIES KNOW HOW TO DRIVE BETTER THAN YOU"
After working together that lasted four years, the LiDAR sensor of the Israeli company Innoviz reaches the market in a new BMW (BMW) series of vehicles. Last week, the German automaker launched the new generation of the BMW 7 luxury vehicle series, which will hit the market in November 2022. The new series includes petrol engine cars, hybrid cars, and for the first time a fully electric model, the BMW i7, which will be equipped with a battery that will be enough to travel 300 miles per charge.
Starting in 2023, the new 7 Series will be BMW's first series, which will feature Inviz's LiDAR sensor, defined by BMW as "the most powerful sensor in the industry." BMW markets the new models as the forefront of technology when it comes to driver safety and assist applications, autonomous driving, a combination of augmented reality and digitalization. Inviz's sensor is a key component of the sensor array that supports these applications, along with radars for all ranges, with vertical separation, and an 8-megapixel camera.
In March 2022, Inviz's CEO, Omer Kilf, discovered that the sensor the company developed for BMW had successfully passed all the tests and reached the freeze phase. This means that at this moment it is forbidden to make changes to the design approved by BMW, and it will enter production in its current form. Its mass production begins as early as 2022.
The car knows how to drive better than you
As part of the marketing campaign ahead of the launch, BMW has invited leading bloggers and automotive reporters for test drives in the new models, which have yielded audit columns on well-known websites in the automotive industry, such as The Drive, Which Car, HT Auro, Forbes and more. One of the reporters who made a test drive was Chris Tsui of The Drive. In an article titled "BMW joins the competition for hands-free driving," he marveled at the ADAS and autonomous driving systems that rely on Inviz's sensor, summing up the experience: "The cars in the new series of sedans know how to drive better than you do." Chris points out that the semi-autonomous driving applications on intercity roads, as well as the improved capacity of autonomous parking, make the vehicle "more of a self-driving machine than a machine designed to be driven."
The i7 features level 2 auxiliary applications (that is, with hands on the wheel) of adaptive cruise and lane keeping. at speeds of up to 140 km/h, automatic driving mode can be activated on intercity roads, similar to a pilot car in tesla vehicles. in this situation, the car performs the acceleration, braking and steering operations autonomously, without the driver being required to hold the steering wheel, but only to keep his gaze on the road. the system is also able to autonomously transition from lane to path. as the car approaches the exit from the main road, the driver can order at the touch of a button to automatically make a gradual transition from lane to lane to exit, as long as traffic is not too busy or the exit is too close.
Self-navigating into the home garage
BMW has announced that these models will later be allowed to drive autonomous Class 3 at speeds of up to 60 km/h even on non-long-distance roads. For Level 3 autonomous driving, Inviz's LiDAR sensor is necessary. Commentators from the automotive world estimate that this capability will be particularly attractive in the Chinese market, where the average speed of travel in cities is relatively low due to traffic congestion.
Tsui goes on to review the autonomous parking capability of the new model, noting that he has not yet encountered such high capabilities. Although the 7 Series models are relatively large, the orientation and maneuverability allows the vehicle to park even inside challenging parking spaces. In addition, a predetermined route can be programmed so that the vehicle navigates independently, for example, from the entrance gate, through the driveway to the garage. The semi-autonomous driving technology in these vehicles may be among the best in the industry, a worthy competitor, and even beyond, for GM's SuperCars and Tesla's autopilot."
Related tweet from Innoviz CEO, Omer Keilaf https://twitter.com/KeilafOmer
LIDAR trials for Semi Trucks INNOVIZ-FX-AA, please comment!
Apr 14, 2022
FX-AA TruckLEDFinder
INNOVIZ Technologies (www.innoviz.tech), with the help of FX-AA (www.fx-aa.com), is adapting its LIDAR sensor technology to develop a semi trucks' aftermarket solution to on-timely detect and warn drivers of obstacles on the road under severe darkness and adverse weather conditions. Incoming tests will determine the feasibility of the product solution, but the omens are good. This video aims to collect comments/reports from truckers about adverse situations or accidents they have experienced. Posted comments will be taken into account to improve the software detection capabilities.
The Path to LiDAR Commercialization - Omer Keilaf at the GTM China
Mar 29, 2022
Innoviz Technologies
Our CEO and Co-Founder, Omer Keilaf, is touching base on the topic: "The Path to LiDAR Commercialization" at the 2022 Global Autonomous Driving Online Forum.
LiangDao Intelligence and Innoviz Technologies Enter Strategic Partnership
April 13 2022 - PR Newswire (US)
https://ih.advfn.com/stock-market/NASDAQ/innoviz-technologies-INVZ/stock-news/87824185/liangdao-intelligence-and-innoviz-technologies-ent
The partnership is aimed to accelerate the introduction of series production solutions of high-resolution LiDAR for the Chinese market based on InnovizTwo
BEIJING and TEL AVIV, Israel, April 13, 2022 /PRNewswire/ -- LiDAR system supplier LiangDao Intelligence and Innoviz Technologies (Nasdaq: INVZ), a leading LiDAR company, announced that they have signed a strategic partnership.
The partnership will focus on deep collaboration and exploration of the customization of Innoviz's LiDAR solutions for OEMs in the Chinese region, the development of perception solutions, and validation and data collection to accelerate the introduction of series production solutions of high-resolution LiDAR for the Chinese market, based on InnovizTwo.
As a full-stack service provider of series-production vehicle LiDAR system, LiangDao Intelligence has been deeply engaged in the LiDAR space for many years. The company's core technical team participated in the software series production development for the series production launch of Scala, the world's first LiDAR in Audi A8 models. In 2019, LiangDao Intelligence took part in the world's first pure solid-state LiDAR series production project. With a deep understanding of the autonomous driving needs of Chinese and global automotive customers, LiangDao Intelligence has a leading international vision and extensive experience in series production project implementation.
A leading supplier of high-performance automotive grade LiDAR sensors, Innoviz Technologies develops LiDAR solutions with superior performance and has the capability of series production of LiDAR products for many applications. In 2018, BMW chose Innoviz's solid-state LiDAR sensor, InnovizOne, sourced and manufactured by Magna International, as its LiDAR for series production. Innoviz Technologies unveiled the B-prototype of its new generation LiDAR, InnovizTwo, at CES 2022. InnovizTwo is intended to deliver a 30x performance improvement and a 70% cost reduction compared to the InnovizOne.
Last month, Innoviz officially launched its subsidiary in China, Innoviz Shanghai Technologies Ltd. (Chinese: ????(??)????????, which follows 3.5 years of Innoviz operations in China. The new company will continue to be headed by Ms. Rosana Su.
"We are happy to bring the most reliable and highest-resolution LiDAR to the Chinese market, paired with our new partner LiangDao Intelligence" said Omer Keilaf, CEO and co-founder of Innoviz. "We are impressed by LiangDao's many years of experience and the distinguished projects their teams have been involved with. We appreciate their unique understanding of the automotive LIDAR market in China and look forward to jointly accelerating the introduction of mutual series production solutions of our high-resolution LiDAR for the Chinese market."
Dr. Xueming Ju, CEO of LiangDao Intelligence, said, "Innoviz Technologies is the industry leader in high-performance LiDAR sensors and sensing solutions, and its new LiDAR products are highly competitive in terms of performance and cost." In this cooperation, LiangDao Intelligence will leverage its Tier 1 capability as the system supplier and integrate Innoviz's strong technical strength to deliver a new generation of LiDAR system solutions to serve Chinese automotive industry customers by meeting the distinct regional requirements of autonomous driving in the Chinese market.
"The partnership between LiangDao Intelligence and Innoviz Technologies has been a long time coming, with the two companies' relationship starting back in Germany in 2018. Innoviz is not only a leader in LiDAR technology, but also a rigorous product deliverer. Innoviz shares the same values as LiangDao Intelligence, and I am looking forward to the future collaboration," Dr. Shengguang Lei, CTO of LiangDao Intelligence said.
In the next step, both parties will work together to deepen their cooperation and exploration to build a complete LiDAR hardware assembly line and supply chain system in China to accelerate the commercialization process of high-level autonomous driving.
About LiangDao Intelligence
LiangDao Intelligence is a global leading system provider of LiDAR sensors, providing industry customers with a full stack of LiDAR sensing systems, including automotive-grade LiDAR hardware, perception software, testing and validation and data services. Together with our industry partners, LiangDao Intelligence is dedicated to applying LiDAR systems to a wide range of applications in automotive and transportation, using reliable technology and products to ensure the safety of future mobility.
As an Innovator Top 100 company, LiangDao Intelligence has the advantages of Sino-German innovation. LiangDao Intelligence's customer base includes well-respected global automotive OEMs, well-known international automotive component companies, and leading Chinese technology companies in the field of autonomous driving.
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 elected both by an internationally-recognized premium car brand 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 www.innoviz.tech.
Join the discussion: Facebook, LinkedIn, YouTube, Twitter
Contact Information
media@innoviz-tech.com
Investor Contact
Maya Lustig
Innoviz Technologies
+972 54 677 8100
Investors@innoviz-tech.com
New 7 Series will the be the first BMW with Level 3 self-driving
Nico DeMattia
April 11, 2022
https://www.bmwblog.com/2022/04/11/bmw-7-series-level-3-self-driving/
When this new BMW 7 Series debuts, it will launch a technology-first for the brand, something that only one or two other brands have even dabbled with — Level 3 autonomy. If you’re not familiar with the different levels of self-driving, Level 3 autonomy means that, while the system is engaged — and within the proper parameters — the driver doesn’t have to drive the car at all. The next-gen 7 Series will be Level 3-capable, even if most markets won’t allow it.
What makes Level 3 different from the current Level 2 systems in current BMWs? Technologically speaking, there’s more capable hardware involved in Level 3, which we will get to in a bit. But practically speaking, Level 3 cars require no driver intervention while in the required parameters. How does BMW achieve Level 3 in the new 7 Series? The short answer — LiDAR, high-def cameras and sensors.
Smallest LiDAR in a BMW
LiDAR is an interesting technology and one that has been consistently criticized by Tesla’s owner Elon Musk. However, even Tesla is now testing out LiDAR. However, BMW partnered with Innoviz to develop a LiDAR system that’s hidden inside the car’s kidney grille. The next-gen 7 Series will use a new LiDAR unit from Innoviz, mounted in the front grille, to provide up to 250 meters of forward visible range. Also, for the first time, the LiDAR has vertical resolutions on multiple levels so it’s able to distinguish between obstacles than can be driver under or over.
The new BMW 7 Series also gets a windshield-mounted front camera, which looks for pedestrians and other cars even further away. It’s also said to be the first 8 MPix camera used for automotive purposes worldwide. An additional front camera is also mounted in the grille. BMW says that thanks to the 8 megapixel camera, they were able to reduce the number of front cameras, while doubling the number of measurement points.
In addition to the front LiDAR and cameras, there are six ultrasonic sensors up front, six at the rear, a rear-mounted camera, two short-range radar sensors at the rear, and even two side cameras — one in each side mirror. In total, there are over 30 sensors in the area of ultrasound, cameras and radars.
Level 3 Limited to Some Markets
BMW’s Level 3 self-driving system will be limited to highway use in moderate traffic, at speeds up to 60 km/h (37 mph). The idea is that it can completely take the hassle out of driving in traffic, allowing the car to do the boring stuff for you. BMW claims customers will able to have time for reading, sending emails, entertainment, or even just relaxation. That’s what separates it from the Level 2 systems currently used in cars like other BMWs, Mercedes’, Audis, and Teslas.
You need more than just sensors and LiDAR to make Level 3 work, though. Massive computing power is also necessary, as there are literally millions of scenarios being simulated while BMW tests this system, all of which are done remotely, at select data centers.
When BMW launches Level 3 in the BMW 7 Series and BMW i7, it will be one of only two brands that actually have Level 3 tech, along with Audi. However, Audi sort of gave up its Level 3 ambitions, deciding instead to hold out for Level 4 and beyond. Which sort of leaves BMW in a class of one. Both Tesla’s Autopilot and Cadillac’s Super Cruise — the two systems typically considered the best in the business — are Level 2+ systems, meaning they can do a bit more than traditional Level 2 setups. Neither of which, though, are Level 3.
Unfortunately for BMW, many countries lack the legislation to allow such systems. Germany is currently working on legislation to allow for Level 3 autonomy but countries like the UK and U.S. are still far from allowing such systems to work. Which means if you’re an American 7 Series or i7 customer, you car will technically be capable of driving itself on the highway, within the proper speed parameters, but you won’t be allowed to do it. Therefore, China might be the first market to get a Level 3 spec BMW.
This is a step forward, though. As we slowly inch our way toward full autonomy, some brands are going to have to push technology that maybe the world isn’t ready for, so long as it’s done in a safe manner. When we can finally get our hands on a 7 Series or i7, we’ll be able to test if BMW’s Level 3 system is safe to use and how effective it is. Until then, it looks promising. Next week, we will also have the Innoviz CEO join us for a chat on their LiDAR, so stay tuned for a more detailed tech article!
BMW 7 Series and i7 Prototype Drive | 7er future is electric and comfy
It will be the most comfortable, back-seat-focused 7 Series ever
MICHAEL TAYLOR
Apr 11th 2022
https://www.autoblog.com/2022/04/11/bmw-7-series-prototype-drive/
MUNICH, Germany – November 2022 promises to be a mark-the-calendar date for BMW, with the launch of its all new 7 Series promising a technical tour de force taking the German limousine into a brave new world.
For starters, the next generation of the 7 Series will arrive in the United States with inline six, V8 and pure EV power, and there’s a 50-mile plug-in hybrid to follow them up next year. Secondly, it will be pre-equipped to deliver Level 3, eyes-off, hands-off driver assistance technology. Thirdly, it’s the first time, BMW admits, that it has ever really bothered to focus on rear-seat luxury and comfort.
That’s reason enough to drive two prototypes – one a V8 and the other the i7 EV – to see if BMW’s flagship has finally completed its multi-generation evolution from the most athletic limousine in the world to something that can compete with a Mercedes-Benz S-Class on pure comfort.
The risk BMW has taken here is immense. Even Mercedes-Benz developed the S-Class as an S-Class and the EQS EV as an EQS EV. And here is BMW lumping all of its powertrains together under one four-door bodyshell.
They had good reasons to do it, though, including production manufacturing, and the new 7 Series (and the 5 Series to follow it) utilizing a versatile architecture that can eat batteries or fuel tanks with equal aplomb.
The two 7 Series cars – the V8 and the i7 – will share a common body and it’s imposingly huge, spanning 17.7 feet in the long-wheelbase model that will be standard in the United States. It’s also taller, especially in the front and the hood line, and it’s heavy. While BMW isn’t locking down the numbers yet, the difference between the entry 740i with the turbo inline-six gasoline engine and the twin-motor, big-battery version of the i7 is almost 1,100 pounds. Remember, that’s all in the same body style!
BMW didn’t give us much of a chance to look at the interior, and covered it with felt flaps most of the time, but they have promised luxury they’ve never used before, especially in the rear seat. They talked so much about rear seat comfort that it was almost apologizing for not getting around to it before.
The reason they’ve attacked the rear seat so hard this time around can be summed up in one word: China. It’s a recurring theme. Every second 7 Series is sold in China, with 70% in total sold in Asia as a whole. The Chinese market told BMW it wanted more rear legroom, more rear toys and an EV body that looked the same as every other 7 Series, which they wanted to be more aggressive looking. And here we are.
BMW wasn’t massively forthcoming on the powertrain details of the cars we drove, but the V8 twin-turbo (probably a 760i), had about 545 horsepower, and this version of the i7 felt suspiciously like it shared the iX 50’s powertrain.
So, we’d be guessing more than 500 horsepower, a battery pack beyond 100 kilowatt-hours (an EQS has a 107.8-kW pack) and it felt easily capable of running to 60 mph in under 5 seconds. The first impressions, even from the front seat, are that BMW has indeed lifted the 7 Series to a new level of comfort. It might not surpass what Mercedes-Benz has done with the S-Class, but it’s at least not behind it anymore.
The silence from the rear seats is palpable compared to the outgoing 7 Series, with very little wind noise and almost no road noise whatsoever, with the tires, the suspension and the wheel arches all muted.
It’s even more pronounced up front, where 80 mph on the autobahn showed the loudest single sound input to be the windscreen wipers blasting away at the Bavarian snow. And that was in the V8. It remains a lovely powertrain, with oodles of torque, sophistication dripping from its every effort and enough power to punch to 60mph in four seconds. It’s mated to standard all-wheel drive and an all-new eight-speed transmission, which has big shoes to fill considering the outgoing one was the gold standard of the industry.
But if the V8 feels like a muscle-bound gentleman in a suit, the i7 takes it to an entirely new level of sophistication and refinement. The hunt for noise, vibration and harshness has gone down many a rabbit hole, including noise cancelling, but also filling the enormous HL (heavy load) 285/35 R21 front and 255/40 R21 rear tires with an acoustic-absorbing foam to soak up road noise before it ever hits the suspension, much less the cabin. And, yes, run-flats are dead at BMW, so it’s not that kind of foam.
All next-generation 7 Series will use air suspension, with 48-volt active roll stabilization provided through the electrified anti-roll bar, and there’s rear-wheel steering. Like the S-Class and the A8, the 7 Series also leans into corners to minimize the movement felt by the passengers.
Unmistakably, the i7 feels like the more organized of the two 7 Series prototypes we tested, with easy punch, but a surprisingly planted cornering stance and the good manners to ease its way through corners. It leaves you forgetting its portliness, all while carrying astonishing speed.
It isn’t the fastest EV limo around, at least not in a world with a Lucid Air in it, but it’s quick enough because, as BMW explained, when the owner is being chauffeured in the back seat, he or she doesn’t care to feel 1g of launch acceleration. The electric motors feel and sound relatively low revving, which can trick you into thinking it could use more punch, but then you look at the speedo and it’s doing 100 mph, rather than the 65 mph you thought, and you realize it’s all pretty good, actually.
The brakes, under-utilized in the i7, pull strongly, and whatever BMW is claiming about ride comfort is true. It is easily the most lump-absorbent BMW of all time – and it should be, with at least 2.5 tons pressing down on the Earth.
A word about BMW’s Level 3 autonomy here, because while it’s coming, it will follow the launch by at least a year as BMW proves to its risk assessors that it’s good enough for the company to accept all the legal liability for it. BMW claims that with each new model it has to show governments and assessors that the car can drive a billion kilometers without a fatal crash, which is more than 20% better than the average of human drivers.
The sensors are in place even without Level 3, though, as they’re needed for and to enhance the various crash protection and advanced driver assistance systems. There are four short-range radars, a long-range radar and a medium-range LiDar, plus a horde of ultra-sound sensors, and it all takes the sensing ability out to 984 feet. When it does arrive, the Level 3 BMW Traffic Jam Assist, developed with Mobileye and Intel, has been engineered to allow the driver to “do anything but fall asleep because he has to be ready to take over” at up to 38 mph.
That may not seem quick enough to most Americans, but Chinese drivers spend 80% of their driving time at less than 18 mph. Remember, half the 7 Series sold in the world are sold there. No wonder back seat comfort has become so important.
There’s more, though, and it’s useful. The parking assistant has been expanded, taking the existing parallel and 90-degree parking capability and adding three-point turns (less needed now with four degrees of rear-wheel steering). It can also park itself, without you in it, provided you and your app-equipped phone remain within about 20 feet of it. That should be helpful because this is a big car after all, and it might not be easy to open the door inside some garages. With all the emphasis on the back seat and comfort in general, perhaps achieving the status of Ultimate Parking Machine will be the 7 Series future goal.
YouTube video of interview with Innoviz CEO, Omer Keilaf on LiDAR, Trust, and Commercial Production
Mar 24, 2022
Could LiDAR Prevent the Next Tesla Autopilot Crash?
March 17, 2022
https://innoviz.tech/blog/could-lidar-prevent-the-next-tesla-autopilot-crash
The Frequency of Tesla Autopilot Crashes
The negative attention on Tesla the past few years has led to an open investigation by the US National Highway Traffic Safety Association (NHTSA) into the auto manufacturer’s Autopilot system.
NHTSA has sent investigation teams to 26 crashes involving Autopilot since 2016, including at least 11 deaths. Teslas that have had Autopilot in use have also hit tractor-trailers or a highway barrier when crossing roads.
Aside from these investigations, there has recently been an increase in reported complaints about collisions with the Tesla phantom braking feature, which slows down the vehicle when the Autopilot advanced driver assistance feature is engaged at high speeds. These incidents interestingly occurred more after Tesla officially removed radar sensors from its cars at the end of 2021.
The Tesla Autopilot system is now specifically camera-based and includes no LiDAR technology whatsoever, which could be part of the root of the problem.
Autonomous Vehicle Safety Legislation, or Lack Thereof
In a NHTSA report, investigators found that in each of the crashes, various Tesla models encountered first responder scenes and “subsequently struck one or more vehicles involved with those scenes.”
The performance of the camera-only system was consistently impacted by flashing lights, flares, illuminated arrow boards or cones warning of hazards. The need for technology that is not impacted by ambient light is clear, and that technology exists, but is not being used. This is a problem because lives are at stake.
As the market for automated vehicles continues to grow from 670,000 units in 2020 to the projected 4.223 million units by 2030, the amount of federal regulation, or lack thereof, is becoming a clear issue as more crashes happen. Legislation that mandates higher levels of performance and quality for automated driving systems, especially in difficult scenarios (e.g. weather, low-light conditions), could reduce the number of crashes.
There are many different types and capabilities of Advanced Driver Assistance Systems (ADAS) today, and superior technology is just around the corner. It’s critical that legislators are brought up to speed on new technologies and efforts to address critical performance gaps to maintain trust in a future where automated driving surpasses human driving.
The Fundamental Safety Flaw of Camera Tech in Today’s Automated Vehicles
Camera technology is not enough to ensure the safety of passengers and pedestrians. Yes, it can mostly see objects the way humans do, however, some incidents on roads require superior vision in the dark and a faster determination of distance from obstacles than camera technology can provide.
A test was performed to compare the safety performance of a Tesla to a Lexus with LiDAR technology approaching pedestrians at night. The result? The Tesla “mowed the dummy down,” while the Lexus was able to stop in time.
Another study done by the Insurance Institute for Highway Safety (IIHS) showed that camera- and radar-based pedestrian automatic emergency braking (“PAEB”) systems are not effective in low-light conditions, which are when most fatal collisions happen.
These examples alone prove that safety features in Teslas, which rely solely on camera technology, shouldn’t be trusted to prevent crashes or perform without human intervention.
Safely Moving Forward with Innoviz
Fortunately, there is a technology that can help solve automated car safety issues, and it’s from Innoviz.
Innoviz’s LiDAR technology performs when camera and radar technologies fail, specifically in changing light conditions such as at night, in direct sunlight, when it’s raining or foggy, and entering and existing tunnels when light changes suddenly. LiDAR can also see farther and provides automated vehicle drivers with the ability to avoid crashes in ways Tesla camera technology simply can’t.
Last year, Tesla Autopilot kept getting into wrecks at this specific fork in the road in Yosemite. Innoviz took its demo vehicle “The Grizzly”, which is equipped with InnovizOne, to that exact spot and then took a video showing that LiDAR has no problem identifying what is happening on the road.
If the five Tesla cars that crashed at this precise spot had utilized LiDAR data, they might not have missed the fork or the rocks in the road, and these crashes might have been prevented. What makes Innoviz technology a better solution? It works in all weather and light conditions, as well as identifies potential obstacles from far away, including a fork in the road at Yosemite national park.
The Future of Autonomous Vehicle Safety
Car manufacturers today are doing their best to move forward from Level 2 automated vehicle capabilities to Level 3, where human driver intervention is no longer required. But there are some obvious worries around liability and a lack of safety regulations.
Innoviz’s LiDAR technology and perception software can be the safety solution that bridges the gap between Level 2 and Level 3 automated vehicles. Contact the Innoviz team today to learn more about how we use the best data and LiDAR technologies to help get drivers on the road with safe Level 2+ vehicles.
Recent tweet and video on Innoviz Two
InnovizTwo's performance is off the charts! Not only is the #LiDAR able to see obstacles in excellent detail, but it's also at the right price to enable all #automakers to offer safe #AutonomousVehicles. Check out the point cloud from the first-in-car demo ride around Tel Aviv! pic.twitter.com/g9eWgUqEds
— Innoviz Technologies (@InnovizLiDAR) March 9, 2022
Innoviz Selects BlackBerry QNX Operating System for its InnovizOne and InnovizTwo LiDAR Sensors
March 08 2022 - 08:00AM
PR Newswire (US)
https://ih.advfn.com/stock-market/NASDAQ/innoviz-technologies-INVZ/stock-news/87489718/innoviz-selects-blackberry-qnx-operating-system-fo
TEL AVIV, Israel, March 8, 2022 /PRNewswire/ -- Innoviz Technologies (Nasdaq: INVZ), (the "Company" or "Innoviz"), a leading provider of high-performance LiDAR sensors and perception software, today announced it has selected the BlackBerry QNX Automotive Operating System for its LiDAR sensors. Specifically designed for safety-critical embedded systems, the BlackBerry QNX RTOS (Real Time Operating System), is used for InnovizOne, Innoviz's first automotive-grade LiDAR, InnovizTwo, Innoviz's next-generation low-cost LiDAR, and Innoviz's hardware.
BlackBerry QNX is an embedded, pre-certified operating system designed for the automotive sector where functional safety embedded software is critical. The BlackBerry QNX platform enables Innoviz's point cloud to provide the required safety levels and facilitates reliable, high-performance and competitively priced LiDAR solutions.
"Innoviz's focus on safety and reliability includes the operating system level and shaped our decision to build our products, starting with InnovizOne, on the QNX platform. We are excited to continue the collaboration with BlackBerry, demonstrating safety and reliability coupled with leading performance in our next-generation InnovizTwo for the automotive OEM market," said Omer Keilaf, Innoviz Co-Founder and CEO.
"BlackBerry QNX is more than an operating system. The platform offers an agile foundation for co-developing complex software, functionally safe system design and demanding end-to-end security systems. Working with Innoviz, we look forward to supporting new LiDAR innovations that enhance vehicle safety now and into the future," added Joerg Zimmer, VP EMEA at BlackBerry.
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 elected both by an internationally-recognized premium car brand 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 www.innoviz.tech.
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Contact Information
media@innoviz-tech.com
Investor Contact
Maya Lustig
Innoviz Technologies
+972 54 677 8100
Investors@innoviz-tech.com
Short YouTube video on INNOVIZ TWO
Posted Mar 1, 2022
3 Lidar Stocks to Buy as Amazon Bet Shines Light on Autonomous Vehicles
The pullback in lidar stocks offers an attractive opportunity for patient long-term investors
2/18/2022, By Tezcan Gecgil, InvestorPlace Contributor
https://investorplace.com/2022/02/3-lidar-stocks-to-buy-as-amazon-bet-shines-light-on-autonomous-vehicles-vldr-amzn-invz-lazr-oust/
.... here are three lidar stocks that could gain significant traction this year:
- Innoviz Technologies (NASDAQ:INVZ)
- Luminar Technologies (NASDAQ:LAZR)
- Ouster (NYSE:OUST)
Lidar Stocks: Innoviz Technologies (INVZ)
52-week range: $3.19 – $14.19
Israel-based Innoviz Technologies designs lidar semiconductor sensors as well as perception software. Its products are found in numerous industries, such as automotive, robotics, drones, and mapping. The company aims to gain market share by offering lidar systems at low-cost.
For instance, Innoviz manufactures a solid-state lidar system at 905 nanometers (nm). On the other hand, our next stock, Luminar, manufactures at 1,550 nm. The 905 nm lidar costs significantly less than the 1,550 nm. counterpart.
Innoviz announced third-quarter 2021 results on Nov. 10. Revenue increased 13% year-over-year (YOY) to $2.1 million. Net loss stood at $26.4 million, or 20 cents loss per diluted share, compared to a net loss of $15.7 million a year ago. Cash and equivalents ended the quarter at $139.5 million.
The lidar maker boasts a partnership with BMW (OTCMKTS:BMWYY) to implement its InnovizOne sensors. Meanwhile, its next-generation InnovizTwo sensors achieve a 30x performance improvement over InnovizOne, as well as a 70% cost reduction. Analysts point out that the newer technology could accelerate the adoption process by more vehicles.
Moreover, INVZ recently launched Innoviz360, a patent-pending HD lidar architecture. Industry watchers point out that that it enables multiple scanning software configurations at a lower cost.
INVZ stock is priced at $4, down almost 70% over the past year. The 12-month median price forecast for Innoviz stock stands at $9. Interested readers could consider buying around the current level. It is due to report earnings on March 2.
Tesla phantom-braking complaints spur federal probe
PUBLISHED THU, FEB 17 2022
https://www.cnbc.com/2022/02/17/tesla-phantom-braking-complaints-elicit-nhtsa-investigation.html
KEY POINTS
- NHTSA initiated a new safety-defects investigation into Tesla after a barrage of drivers’ complaints to the agency of phantom-braking incidents.
- Phantom braking refers to instances when a driver’s brakes activate unexpectedly, and cause rapid deceleration of a car even if traffic is flowing normally or there is no obstacle to avoid.
- The investigation concerns braking-related systems that are part of an estimated 416,000 Tesla Model 3 and Model Y vehicles from the 2021 and 2022 model years in the U.S.
The National Highway Traffic Safety Administration has initiated a new Tesla safety probe after receiving 354 drivers’ complaints about phantom braking in their vehicles.
Phantom braking refers to instances when a driver’s brakes activate unexpectedly, even when traffic is flowing normally around them or there is no obstacle to avoid.
NHTSA’s Office of Defects Investigations on Thursday published a “ODI resume” that said it is looking into systems that are part of an estimated 416,000 Tesla Model 3 and Model Y vehicles from the 2021 and 2022 model years in the U.S.
Tesla owners’ complaints of phantom braking to NHTSA spiked to 107 in the three-month period before Feb. 2, the Washington Post reported, compared with just 34 complaints in the previous nearly two-year period.
In one complaint, filed to NHTSA on June 14, 2021, a Tesla owner in Victoria, Texas, alleged their 2021 Tesla Model 3 would brake “without warning or provocation when on cruise control,” whenever a semi-truck approached in the oncoming lane, or on four-lane divided highways, with the car decelerating from 75 miles per hour to 40 miles per hour in a matter of seconds.
The driver wrote, “I have almost been rear-ended when a car is following closely and it happens. I have recorded these incidents, reported to Tesla, taken the vehicle for diagnostics, and they have no answer and imply that occasionally it may happen, however, it should not be an issue. IT IS A DANGEROUS PROBLEM and an accident waiting to cause serious injury.”
Tesla has issued 10 voluntary recalls in the U.S. over just the past four months, including several in the last few weeks, according to NHTSA’s website.
For example, the company issued a recall affecting 578,607 vehicles in the U.S. for its “boombox” feature, which enabled owners to blast silly sounds (like a fart noise) out of their cars as they drove. Pedestrians may not be able to hear a legally mandated pedestrian warning system sound if that feature is in use, Reuters reported.
After that recall, Tesla CEO Elon Musk characterized NHTSA as the “fun police.”
On Thursday, when the phantom-braking investigation became public, Musk attorney Alex Spiro sent a letter to a federal judge accusing the Securities and Exchange Commission of “harassing” the CEO with its ongoing investigations.
Earlier this month, Tesla revealed that it received an SEC subpoena in November 2021, shortly after Musk conducted a Twitter poll asking whether he should sell 10% of his shares.
Tesla shares were down over 4% on Thursday following news of the latest federal safety probe.
VW CEO Diess disagrees with Tesla CEO Elon Musk, saying L3 autonomy requires Lidar (plus VW EV Pickup, summer OTA, and more)
Seth Weintraub,Feb. 16th 2022
https://electrek.co/2022/02/16/vw-ceo-diess-disagrees-with-tesla-ceo-elon-musk-saying-l3-autonomy-requires-lidar-plus-vw-ev-pickup-summer-ota-and-more/
In a wide-ranging AMA on Reddit today, VW CEO Herbert Diess provided answers to a ton of questions from the Reddit community, some of which were news to us. Importantly, he clarified Volkswagen’s position on Autonomy and ID.4 charging update timelines while waxing eloquent on a low-price VW EV and everyone’s favorite, the Microbus.
On Lidar, Diess surprisingly took a different tack than his friend, Tesla CEO Elon Musk, who is adamant that Robotaxis can be made from only vision systems. Tesla’s CEO said he would be shocked if Tesla does not achieve Full Self-Driving that is safer than human drivers this year (five years ahead of everyone else).
Diess remarked that Lidar, or more specifically redundant perception, was integral to getting to Level 3 autonomy, saying:
"Lidar technology is still expensive, but todays the only way to offer redundant perception to the 360 camera systems which are a must. Safety is really crucial in autonomous driving. For level 3 driving you need redundant perception."
Later on he clarified that Level 3 autonomy “requires” redundant Lidar perception. Volkswagen has partnered with MobileEye for its Lidar systems, which have been dropping in price.
"Yes, definitely level 3 requires redundant Lidar perception."
As for the when, Diess was a little less specific than Tesla’s “this year” timespan.
"autonomous driving is the biggest gamechanger for the automotive industry. we will be able to drive our customers safe and comfortably. This will be a gradual process from taking over responsibility on open highways in good weather conditions getting to more complex environments and weather situations worldwide. So this will be a long process of competition for a long period to come. We are building up competencies to become a serious competitor in this race."
On software in general, Volkswagen has been making huge investments.
"We are building up capabilities to become self sufficient in car software, through organic growth, major acquisitions, partnerships to build up own IP and recruiting tech talents. Last year we hired around 1000 software engineers. To acquire IP we started a partnership with Bosch. To advance our image recognition capabilities we acquired the Hella Aglaia team. More to come. Currently we are investing 2 billion for software per year & CARIAD is already delivering the software updates over the air, preparing new launches and features together with our brands."
On the simplification of multiple brands and vehicle platforms to become more like Tesla, Diess replied:
"Volkswagen will remain a multi brand mobility company working worldwide and being present in many segments. To reduce complexity we are focusing on platforms, even more in the future. One hardware platform SSP, unified battery cells & one shared software stack with CARIAD will ensure that we leverage our economies of scale fully. Being present in volume and premium markets and addressing many of our different customer preferences. But yes, in some segments we are still too complex in our product offering. We are making good progress in reducing complexity. Already with our MEB platform 70 percent of the car value is shared between Audi, Skoda, Cupra and Volkswagen."
The €20k VW ID.1 or ID.2 Electric car?
What the world needs right now is a low-cost EV, and Diess has confirmed that VW is working on something like the ID.Life concept we saw at IAA last year.
[Redditor]: When will we see a EV sedan that has a 300 mile range for under $25k?
[Diess]: price is a challenge. We are working on electric cars around 20k euros for entry segments.
Plug and Charge and Bi-directional charging update for Volkswagen ID.4
While the VW ID.4 has been given high marks for its hardware, owners are growing impatient about the software updates promised. One particular promised update, Plug and Charge with Bidirectional charging, has been a sore spot with vague promises for owners since last year. Now we learn VW is targeting summer for that update.
"We will have a major OTA update for the ID.4 coming this summer, which will add features like Plug&Charge and Auto Hold, as well as a higher capacity onboard charge capability."
And perhaps more interestingly, the update will come out in Vehicle to Home (V2H) form, allowing customers to do things like power their appliances from the car – or power the whole house in a blackout. It will be interesting to see the output and how it compares to the Hyundai E-GMP platform output of 2-4kW.
"Bidirectional charging will be available this year for all ID. Models with 77 kWh battery, also via OTA update. In the beginning we will only offer Vehicle-to-home. This means you can run your dishwasher with electricity from abroad."
Diess later clarified this would be on all ID.4 77kWh vehicles sold:
"Yes, we will offer Plug & Charge on MY23 ID.4s and on earlier cars with an OTA update. Just tested it together with Elke (https://www.linkedin.com/in/elke-temme/) – really convenient, high time for introduction."
Volkswagon pickup? Diess thinks that’s a good idea.
Diess played innocent when the idea of a Volkswagen Pickup for the USA was proffered.
[Redditer] "Hello Herbert, we like the VW designs a lot. My question is, will there be an electric pickup truck like the ford f150 lightning for the usa?"
[Diess] "Good idea!"
VW already makes ICE pickups and sells them outside the United States, so the company isn’t a total newbie when it comes to the form factor. But a new entrant into the US electric pickup market would be good for all involved, especially if they are made in Chattanooga.
Diess on the future
The VW CEO was asked what the future held for VW and the car industry, specifically 25 years from now.
"25 years are very difficult to predict. Advancements in technology are coming fast. My guess: All cars will be able to drive autonomously, very safe, probably no accidents at all anymore. Emission free, very comfortable – cars will take you where you want to go and when you want to go. Still there will be precious brands for different customer preferences, still cars will be the most important means of transport. But totally safe, convenient and sustainable."
Electrek’s Take
It is hard not to like an automotive CEO who does an AMA answering questions from customers and fans genuinely – spelling and grammar mistakes included. (Cut him some slack!)
As for self-driving, Diess has a steep learning curve but seems to have a realistic expectation of what VW can accomplish. The CEO continues to impress us with his clear vision of the EV/Autonomous future. In the short term however, he needs to get those ID.4 updates out the door.
Innoviz claims new lidar can deliver L3 vehicle autonomy
By Dave LaChance on February 14, 2022
https://www.repairerdrivennews.com/2022/02/14/innoviz-claims-new-lidar-can-deliver-l3-vehicle-autonomy/
InnovizTwo lidar unit. (Provided by Innoviz)
In getting to the next level of semi-autonomous driving, the capabilities and mounting positions chosen for lidar units are going to play a critical role, the CEO of one technology company said during a recent webinar on lidar standards for Level 3 autonomy.
Omer Keilaf, CEO of Innoviz Technologies, said during a recent webinar that his company’s solid state InnovizTwo lidar unit, unlike most now on the market, has the combination of cost, performance, reliability and size to make L3 highway driving commercially feasible.
There is a “quantum leap” between “partial driving automation,” which ISO and SAE International classify as L2+, and the “high driving automation” of L3, Keilaf said.
SAE levels of driving automation. (Provided by SAE)
“The main reason is because, at Level 2, the company doesn’t need to take any responsibility if something wrong happens. It’s the driver’s fault, even though the car is making driving decisions. So the driver needs to be ready to engage if something wrong happens,” Keilaf said.
At L3, the manufacturer takes responsibility. “They need more sensors, more processing power, and they need redundancy. So, when a car is driving autonomously, it cannot rely on a sensor that might degrade—it could be low light conditions, direct sunlight, or rain. And for that reason, you need to have sensors that can complement each other.”
The addition of lidar to the more commonly used technologies of cameras and radar units is generally acknowledged in the industry to be the crucial to self-driving capability. General Motors expects to be the first to bring lidar technology into the mainstream, with the Ultra Cruise system it plans to offer on certain models in 2023.
Lidar, which stands for “light detection and ranging,” complements cameras and radar because it functions well under conditions that challenge the other technologies. It works by firing a beam of laser light at an object, and then capturing the reflection of that beam, providing a three-dimensional picture of objects around the vehicle known as a “point cloud,” showing where the objects are headed and how fast they’re moving.
The vehicle uses information from the various sensors in its driving decision-making, in a process defined as “sensor fusion.”
Lidar, camera and radar performance under different conditions. (Provided by Innoviz)
Keilaf suggested that the most economical way for automakers to get to L3 is to equip their vehicles with the technology needed for that level of operation, but allow them to operate at L2 or L2+ only, using the opportunity to crowdsource data in real time.
“The car maker can leverage [the technology investment] by collecting data, validating, and basically measuring the level of waste that exists in the system and improve it over time by doing software upgrades [over the air]. And that’s a good way to accelerate the process,” he said.
Keilaf restricted his analysis to highway driving, rather than urban scenarios, which present a greatly different set of challenges. Restricting L3 vehicles mostly to highways “would simplify overall autonomous system requirements and costs, eliminate a huge daily risk from our lives, and reduce the need for human control of a car for many hours every day,” Keilaf said in an accompanying whitepaper.
Considerations involved in urban and highway use of lidar. (Provided by Innoviz)
The capabilities required for highway driving are “mostly related to the speed of the car. Obviously, the faster the car is going to drive autonomously, it needs more time to react. It means that it needs to see further away, means that it needs to predict and understand the scene better in order to drive safely,” he said.
While many types of lidars have been developed, Keilaf said, most are not able to meet the requirements for highway L3 driving because of issues of cost, performance, reliability and size.
In order to be successful, L3 systems will have to be not only safe, but will have to give the occupants a feeling of comfort, Keilaf said. In other words, though driving characteristics like frequent, sudden stops or directional changes might keep a vehicle from crashing, they will not be acceptable to consumers.
Keilaf suggested that there’s some misunderstanding in the industry about what capabilities are most important in a lidar unit.
“The market is very obsessed with range. You’ll see everybody’s talking about how far the lidar can see,” he said. And yet, he added, the single most important parameter is actually the sensor’s vertical resolution.
Vertical field of view (VFOW) considerations for lidar use. (Provided by Innoviz)
“One of the greatest challenges for an autonomous vehicle is to detect a small, extremely low reflectivity object, such as a tire, at long distance while driving at highway speeds,” according to the whitepaper. “Many trade-offs are required in order to ensure safe braking and avoid a crash.”
Where the lidar unit is placed on the vehicle makes a significant difference, Keilaf said. If it’s mounted in the grille, then the total vertical field of view (VFOW) needs to be 25 to 40 degrees. But if it’s mounted on the roof, a lower VFOW would be needed, because since detection of objects is easier and the hood blocks the downward view.
Innoviz suggests that OEMs consider all possible mounting locations in all models in which the lidar units will be installed.
At least four vertical pixels are needed for a system to recognize a pedestrian. (Provided by Innoviz)
The resolution of the unit also plays a crucial role. For the vehicle’s software to detect and classify a person in its field of view, at least eight pixels—two horizontal and four vertical—are needed.
The lidar unit’s ability to stop the car at a safe distance, if necessary, is another consideration. The sensor needs to be able to differentiate various objects—pedestrians, bicycles, trucks—at that distance with an acceptable level of certainty.
In order to avoid “false alarms,” Keilaf said, at least two vertical pixels must be detected across multiple frames—one pixel is simply not enough. In real world performance, this means that, in order to recognize an object at least 14 centimeters high at a safe stopping distance of 100 meters, the vehicle’s speed would be limited to 130 kph, or about 81 mph, on a dry road.
Environmental conditions like rain or snow, lighting, road conditions and blockage of the sensor can also reduce the system’s performance and increase required braking time, Keilaf said.
The lidar unit’s frame rate, the number of pixels that are refreshed every second, is also important; the higher the frame rate, the shorter the reaction time and movement detection.
For lidar makers, Keilaf said, the challenge is to combine high resolution, frame rate and VFOV in a unit that is compact, efficient, rugged and affordable.
Tesla FSD Beta users show how the system works — and doesn’t
PUBLISHED TUE, FEB 15 2022
https://www.cnbc.com/2022/02/15/tesla-fsd-beta-users-show-cnbc-how-the-system-works-and-doesnt.html
Tesla CEO Elon Musk has been promising customers a driverless vehicle since at least 2016.
While the company hasn’t delivered on that promise, Tesla lets thousands of employees and customers try new and unfinished driver assistance features on public roads in the U.S. through a program called Full Self Driving Beta, or FSD Beta.
Only Tesla owners who have the company’s premium FSD driver assistance system installed in their cars can join the FSD Beta program. (That option costs $12,000 up front or $199 per month in the U.S. today.) Owners must then obtain a high driver-safety score, as determined by Tesla software that monitors their driving habits, and maintain it to keep FSD Beta access. No safety certification or professional training is required.
FSD Beta can best be summarized as a host of new features that are not yet debugged. Chief among them is “autosteer on city streets,” which lets the car navigate around complex urban environments automatically.
In January and February, CNBC rode along with three Tesla owners who are participants in FSD Beta to get an uncensored look at how the system works -- and doesn’t -- today.
All three drivers understood that the technology does not make their Tesla electric cars fully self driving, despite the brand name. The vehicles with FSD Beta engaged maneuvered around some suburban and rural roads successfully, but suffered some dramatic glitches as well, especially in crowded urban environments.
Tesla bull, FSD skeptic
One owner, Taylor Ogan, took CNBC for a drive using FSD Beta version 10.8.1 on his 2020 Model Y vehicle in Brooklyn in January.
Ogan is the founder and CEO of Snow Bull Capital, a hedge fund that invests in green and high-tech sectors, and a self-proclaimed Tesla fan. But after becoming part of the FSD Beta program, he’s become increasingly critical of Tesla’s approach to autonomous vehicle tech development.
During the Brooklyn drive, his vehicle ran through a red light without stopping or warning him to take over steering. The main display screen in his Tesla went blank in the middle of the drive. And Ogan apologized sheepishly to those who shared the road with him as his Tesla lurched to a near-stop when a pedestrian standing at a curb triggered a sudden slow down, even though his vehicle and others had a green light and right of way.
Ogan is generally bullish Tesla, but the test drive in Brooklyn left him saying, “I don’t think it’s right that customers are able to just test this.”
He’s also skeptical that Tesla will be able to turn their cars into autonomous vehicles with an over-the-air software update based on their current driver assistance performance.
Recently, Elon Musk said on Tesla’s 2021 year-end earnings call, “My personal guess is that we’ll achieve Full Self-Driving this year at a safety level significantly greater than a person.” He added, “The cars in the fleet essentially becoming self-driving via software update, I think, might end up being the biggest increase in asset value of any asset class in history.”
Another Tesla owner posted a video to his YouTube channel, AI Addict, showing an FSD Beta drive where the car plowed into bollards along the road in San Jose, California this month.
Cost of making it better
Another Tesla Model Y owner and FSD Beta participant, Kevin Smith, in Murfreesboro, Tennessee, sees glitches and disengagements during drives as inevitable, and part of the process of making FSD Beta into a truly, autonomous system someday.
Smith has driven more than 5,000 miles with FSD Beta, he told CNBC.
“Any time the car could just make a mistake,” he said. “And I have to be ready for that. My stress levels go up, not down from using Full Self-Driving... But that’s that’s the cost of of making it better,” Smith said.
On the ride-along, CNBC witnessed his vehicle automatically stopping and navigating through an intersection, without Smith having to steer.
He’s generally impressed with the technology so far, but notes it hasn’t worked in snow or inclement weather, and that every new version of FSD Beta, released via over-the-air software updates to his car, can solve one problem while introducing a new one.
By using the FSD beta on public streets, Smith says, “I don’t feel I’m increasing the assumed risk that people are putting themselves in by also being on those public streets. We share those streets with people who are, you know, using a car for the first time with their learner’s permit.”
Another Tesla owner, Dan Eldridge, took CNBC for a ride in his Model 3 in San Francisco on Feb. 1. He said that he’s been able to use the feature safely by remaining attentive.
“I haven’t really been in a situation where I felt like I couldn’t gain control, like I didn’t have enough time to gain control,” he explained at the outset.
The car navigated some thoroughfares well, but Eldridge had to stop it from rolling through a stop sign, which it nearly did without warning him to take over steering. The car didn’t navigate roundabouts properly. It also nearly cut off another driver by trying to automatically change lanes, requiring Elridge to disengage the system.
While he was vigilant and avoided any accidents, Eldridge said, “When I’m using the FSD, I’d say I’m less worried about hitting a pedestrian than I am about being the victim of a road rage incident, because I’m just not driving in a courteous way.”
Experimenting in the real world
While there are no federal laws barring Tesla from doing this, transportation experts are not convinced Tesla’s experiment on public roads is a safe or sensible one.
So far, two Tesla owners have submitted complaints to the federal vehicle safety authority NHTSA saying they thought FSD Beta contributed to or caused crashes they experienced. The FSD Beta program and technology is under investigation by NHTSA and the California Department of Motor Vehicles.
Kelly Funkhouser has been testing Tesla’s systems including FSD Beta on a closed route for Consumer Reports. She found that a lot of the time, Tesla’s driver monitoring systems, including cabin cameras that are supposed to track drivers attentiveness, don’t work.
“For Full Self-Driving beta, that’s when Tesla claims that they have these additional messages that say things like the camera’s blocked or to please pay attention. We’ve never experienced any of those warnings,” she said.
She added, “I understand why Tesla might want to get novice testers out there experiencing it. But I definitely think that that’s a huge risk that that consumers take when they are doing this on public roads.”
Destiny Thomas, the founder and CEO of Thrivance group, an urban-planning organization with a focus on marginalized communities, said she’s concerned that Tesla is thinking about what drivers want, but not about the safety of people who share the roads.
“How is this car going to recognize someone using an assistive device that maybe isn’t a wheelchair and doesn’t look like one? How is this technology going to be able to recognize someone who has purple undertones in their skin that don’t react to the sensors that are in the car?” She asks.
She would like to see Tesla do more community engagement before putting experimental vehicles with novice testers behind the wheel on city streets.
CNBC reached out to Tesla but the company did not reply to a request for comment.
New tweet and video from Innoviz CEO, Omer Keilaf.
Perception SW testing SRS (safety related scenarios) Emergency Braking for a stopped motor cycle $INVZ pic.twitter.com/Q48HjAYsbx
— Omer Keilaf (@KeilafOmer) February 15, 2022
LiDAR: Review Leading To Buy Innoviz Recommendation
Feb. 10
https://seekingalpha.com/article/4485872-lidar-review-leading-to-buy-innoviz-recommendation
Summary
- The LIDAR market for vehicles is forecast to grow from $1.5 billion to more than $6 billion in the next few years.
- Established companies and new tech start-ups are chasing this market; most car manufacturers buy the technology rather than developing it in-house.
- The race is on to get products to market; choosing the right companies to invest in could lead to significant returns on investment in a relatively short time frame.
In this article, I provide a review of seven smaller companies hoping to sell LiDAR systems, most of them are tech start-ups, and all of them are small with a currently depressed share price.
The purpose of the review is to choose a LiDAR company to buy.
The LiDAR companies reviewed are Velodyne Lidar, Inc. (NASDAQ:VLDR), AEye, Inc. (NASDAQ:LIDR), Innoviz Technologies (NASDAQ:INVZ), Luminar Technologies (NASDAQ:LAZR), MicroVision, Inc. (NASDAQ:MVIS), Ouster, Inc. (NYSE:OUST), Aeva Technologies (NYSE:AEVA).
LiDAR is a reasonably straightforward idea. A laser is directed forward, bounces off an object, then a sensor collects the rebound. The software can then calculate the distance to the object by looking at how long it takes for the laser to get back to the sensor. Although the technology has significant limitations, it doesn't work in bad weather, and intense sunlight and other LiDAR interference are problems. It is becoming an integral part of autonomous vehicle sensing, and many semi-autonomous systems already use it.
A web literature review suggests the market for LiDAR is currently $1.5 billion with a CAGR between 12% and 16%. $7 billion by 2026 appears to be the consensus opinion. There is a wide variety of forecasts, and we must also consider the NODAR view held by Tesla and others. They believe that LiDAR is not needed and cameras alone are sufficient. The falling price of LiDAR and its increased accuracy plus the ongoing investment by significant players suggest that LiDAR is here to stay and that it will become a large market.
My opinion is that LiDAR will be a part of the sensing system used by autonomous and semi-autonomous vehicles along with Radar and Cameras. Manufacturers will likely integrate all three technologies into automobiles to provide improved safety.
The review will consider three points for each candidate company:
1. What technology are they using?
2. What is their route to market? Do they have a sales channel?
3. Company finances, have they got enough cash on hand?
LiDAR Technology
LiDAR companies have three crucial decisions.
What type of laser will they use? How will they direct the laser forward to hit different targets? What sensor technology will they use to collect the information?
Types of Laser
Power and hence range decisions are restricted by the need for the laser to be eye-safe. Most companies use 905nm or 1550nm lasers; the higher power 1550nm can go further and is inherently eye-safe; however, it is a new technology and requires expensive and sometimes toxic material to make and sense it.
905nm is lower power, limiting its range, but it is an older, well-understood technology that does not require exotic production materials. It is not inherently eye-safe, 905nm laser can reach the human retina, which is not true for the 1550nm. There is much debate about the safety of this technology and, at the moment, limited testing information. This article from LaserFocus World: Automotive LiDAR: Safety questions raised about 1550 nm LiDAR explains much of the debate.
Directing the laser at an object
Manufacturers are choosing one of four technologies, the goal is to make a reliable, low-cost sensor that enables AI to accurately interpret what is in front of a car.
Flash: a single wide-angle radar illuminates the entire field of view. Flash has range limitations and some accuracy concerns as every object in view only receives a fraction of the laser.
Spinning: These are the lasers we see on top of autonomous cars; the laser spins through up to 360 degrees many times per second. There are questions about this technology. Can it be made cheap enough or reliable enough for mass-market adoption? Spinning lasers are challenging to incorporate into car design; they have to be above the car like a small hat, and not too long ago, they were $80,000 each.
MEMS: The laser is fixed (solid-state) and is aimed at one or more mirrors; the mirrors move to direct the laser. Often a LiDAR consists of multiple lasers aimed at multiple mirrors to ensure the field of view is completely covered.
FMCW: The laser is a continuous stream with changing characteristics, the retuning laser beam interferes with the continuous stream being emitted by the vehicle and this interference can be interpreted to give the required information.
Time of Flight (ToF):
The time it takes for a burst to travel to an object and return is used to work out the distance traveled, and done at the pixel level, it gives an accurate view of what is ahead. The number of pixels (the point cloud density) dictates how much information is available.
The following table of information was gathered from the websites listed in the final row of the table.
The Competitive Situation
The product and its attributes are one thing but far more important is the companies' ability to sell the product. It is often not the best tech that wins.
The LiDAR manufacturers must sell their products to the companies making vehicles. Their success will solely be based on the relationships they develop with the tier 1 OEMs and the major car manufacturers.
In this case, the competitive advantage is in the sales channel.
The sales channel info is gleaned from press reports, many deals are likely in negotiation, and as these negotiations are kept private, it is impossible to have a complete understanding.
1. Velodyne
The advantage of first-mover is always important, and in this market, Velodyne was the first mover. They make and sell a spinning LiDAR using a 903nm laser that can sense up to 250m distance. Other LiDAR systems are under development but are not at the market yet.
Velodyne had a difficult 2021, its stock price fell more than 70%, and a series of problems beset it. Criterion Technology accused Velodyne of stealing trade secrets, and a leadership argument led to its founder's ousting, plus the Q2 2021 sales figures missed expectations.
I have real concerns about Velodyne's path to market; they said in 2021 that the number of multi-year contracts was up to 34 (from 26); however, these seem to relate to the high-value research LiDAR systems rather than any mass-market deals. They announced an agreement with QuinteQ that gave the share price a lift in January.
In the mass market, things have gone badly; at the beginning of 2021, Velodyne had firm commitments from three major auto manufacturers. All three of these have failed to generate sales. Ford, an early investor, divested its holding and stopped using Velodyne (canceling a project). Volvo and Hyundai used Velodyne for testing and research but moved to other suppliers. Velodyne is without any Tier 1 supplier or major car manufacturer (they do have Faraday), at least none that I could find. A complete waste of their first-mover advantage. The problem would appear to be the price Velodyne provides high-value spinning LIDARs. The last quoted price I could find was $75,000 at that price or anything near it the product will be unsuitable for anything other than testing and research.
Amazon announcement, on February 7th, 2022, Velodyne announced that it had entered an agreement with Amazon issuing a warrant for almost 40 million shares with an exercise price of $4.18 and a date in 2030. Amazon is expecting the price of Velodyne shares to increase, and they have a history of taking out a warrant in companies they intend to do business with. In 2017, Amazon signed a similar agreement with Plug Power (NASDAQ:PLUG); in the end, it did not go so well for Plug Power despite the initial news sending the price up nearly 70%. In March 2021, Plug recorded negative revenue because of the Amazon deal, and its shares plunged.
The deal with Amazon does not change my view of Velodyne's route to market, it may develop into something, but at the moment, Velodyne will not be on my buy list.
2. Aeye Inc
Aeye has a MEMS 1550nm LiDAR system using time of flight. Aeye was founded by an engineer responsible for mission-critical fighter jet targeting systems at Lockheed Martin. They have signed a deal with the tier 1 auto supplier "Continental," and the continental website is advertising the Aeye based LiDAR system with a mass production date of 2024.
Aeye is also being used (amongst others) by TuSimple (NASDAQ:TSP) the autonomous truck manufacturer. Aeye LiDAR is adaptive; once an objective is identified, the system focuses on that area sending more of its laser output in that direction.
Aeye claims that this technique improves range and reliability; it remains to be seen if these claims are as apparent in real-world applications as in testing.
The deal with Continental gives Aeye an excellent route to market.
3. Innoviz
This Israel based startup has a 905nm MEMS ToF system that has resistance to sunlight interference. Innoviz1 is production-ready, and the improved Innoviz2 will have demonstration units available in Q4 2022. Innoviz360 will be a spinning LiDAR and is currently in development.
Innoviz has made a significant commercial step forward with BMW announcing it will use the Magna Supplied Innoviz LiDAR system in production cars. The Series 7 models already have the system, and it will be incorporated into series 5 and series 3 cars soon.
The agreement is a massive win for Innoviz. Magna is one of the leading tier 1 supplier and BMW is a prestigious manufacturer. This deal alone puts Innoviz in the buy column.
Innoviz has two other potential mass-market channels. Hirani, the Chinese tier 1 supplier, and Harman (Samsung subsidiary) have signed development deals with Innoviz, but I have no news on how close these agreements are to the market.
4. Luminar
This German-based start-up has a 1550nm laser mechanical system (of its own design) that is making excellent commercial progress. Mobileye (Intel subsidiary) launched a robotaxi service using Luminar LiDAR.
Volvo announced they would use Luminar LiDAR in their electric SUV (already in production). Mercedes Benz announced they would use Luminar LiDAR in their premium vehicles when they took a small stake in the company last year.
Polestar has named Luminar its supplier, and Luminar has development agreements with Toyota and Audi, although there is no sales agreement yet.
Nvidia announced an agreement to use Luminar's long-range LiDAR as part of its self-driving car platform.
Of all the companies under review, Luminar would appear to have the best route to market with sales already made and big-name customers it seems very well placed.
These market moves make Luminar the third company in the buy column.
5. MicroVision
MicroVision has established tried and tested tech that they have been selling for several years. The US military is a regular customer, and MicroVision is adapting their 905 nm laser MEMS system for the Auto industry. MicroVision is integrating its radar system into the LiDAR product, adding even more detail. MicroVision claims immunity to other LiDAR systems and sunlight and a dense point cloud with equal long-range and short-range data. The point cloud data should be of significant additional value as it may be more accurate for AI, enabling faster recognition.
It could and should be a winning product; however, their market route is unclear. They appear to have no commercial deals and, in the latest Q3, discussed their plan to build a sales force and marketing strategy.
from the webcast on January 11th
We are directly marketing our products to OEMs, aiming to secure co-development deals, eventually leading to directed buy agreements.
It is a good strategy; however, I cannot invest in MicroVision with no current tier 1 deals and no important news about how these negotiations are going.
6. Ouster
Ouster has a similar product range to Velodyne; they started with high-end spinning radar and have developed via a takeover solid-state LiDAR. The solid-state flash LiDAR comes in short, medium, and long-range versions, but we have no clear evidence of a route to market. Ouster is making deals and selling its products into other markets but has not yet managed to break into the auto industry.
7. Aeva
This US-based Tech company is the only company in this review using FMCW lasers. FMCW would appear to have advantages; It is 4D, which gives velocity information at the pixel level immediately rather than being worked out by software. It has a more extended range than other systems, and Aeva has managed to provide it as LiDAR on a chip which is a first.
Unlike the other LiDAR systems mentioned, this one is inherently immune to interference from other LiDAR systems as well as sunlight. It would appear to be a technological improvement.
Aeva has a promising route to market, the parent company of Volkswagen has taken a stake, and Volkswagen is considering using the technology in future vehicles. Aeva with Volkswagen is one to watch, but the agreement is not yet a firm route to market. Volkswagen is testing the product, but that differs from a firm order or MoU.
The review of routes to market leaves us with three potential investments Luminar, Innoviz, and Aeye. All three have products good enough to get Tier 1 Auto companies to buy them, they should all be successful. I will next look at the finances and other information to decide which of them is likely to be the biggest success.
LiDAR Company financials
Do Luminar, Innoviz, and Aeye have enough cash on hand to get their products to market?
Balance sheet analysis of all three is shown below
The data is from Seeking Alpha financial pages.
No concerns here these three companies have plenty of cash on hand which was to be expected as they are new additions to the market. All three have more than three years cash runway.
Company Valuations
All three companies, along with the rest of the market, have low share prices at the moment (at least when compared to recent history). Using a DCF model and Wall Street target prices, I tried to come up with a valuation of the three.
Source: DCF valuations from SimplyWallStreet company pages, Wall Street targets from Seeking Alpha.
All three companies have significant upside, solid balance sheets, and an excellent route to market. Further review is needed to separate them.
Luminar
Wall Street has been falling out of love with Luminar; the target price moved lower again on February 1st; the average from 11 analysts fell from $28 to $25.70. A DCF value of $23 and a Wall Street target of $25.70 imply an upside of around 60%. Luminar made the surprising move of borrowing money to fund a share buyback scheme in December, covered on Seeking Alpha in this article by @stone fox capital. The share buyback scheme followed a significant purchase of shares by insiders. I wouldn't say I like borrowing money for share buyback at the best of times but particularly so when it is done by a pre-profit company still working to bring its product to market.
Aeye
Aeye has the biggest potential gain. Wall Street is targeting a +300% return, and the DCF gives a return of almost 3,000%; the DCF figure is based on management predictions of sales and assumes a terminal value of $22,000,000, which discounts back to a current value of $11,000,000. The cash flow forecasts show that positive free cash flow is achieved for the first time in 2025, increasing to more than a billion dollars by 2031.
These forecasts seem too good to be true and, in my experience, anything that looks too good usually is. It is three years before the company is forecast to generate any cash. An awful lot can happen to a company in three years. The technology is unique, untested in the real world, and not due to hit the market for three years.
As a result, Aeye will be joining the watch list. I will look to buy Aeye at some stage but not yet.
Innoviz
The deal with BMW means that Innoviz will start generating revenue this year; it will be the first of the companies I have looked at to have its Technology in mass-market production, which makes the forecasts for growth far more believable. We can look at the sales of BMW and use it as a proxy as BMW has committed to Innoviz LiDAR in all of its models.
The cash flow forecast is as follows
Innoviz has made excellent progress in other markets; the Innoviz 360 scanning LiDAR is significantly cheaper than competitive products and will be in full-scale production next year. Obayashi, the Japanese construction company, has been using LiDAR from Innoviz since 2018 and last month announced that it will be adding it to an automated crane system. This comes after three years of testing and is a testament to the reliability and quality of Innoviz products.
It is also worth noting that Ark Investments and Morgan Stanley have increased their stakes in Innoviz in the last 12 months (Morgan Stanley by 1000%).
Conclusion
In short: Innoviz has the products, the route to market, and the finances to succeed.
Innoviz is a clear winner of this review, my recommendation is to buy Innoviz with a target price of $8.40, a 100% increase, and to add Luminar plus Aeye to a watchlist and await further developments.
This article was written by Stephen Tobin
Having started my career working for BoA in the early 1990s (and completed my MBA), I have been actively researching and trading in the markets ever since. I spent most of my career working in the education field; I have been a senior manager in Educational establishments, both online and brick and mortar schools, for more than 20 years. I like to trade in small companies with disruptive technology using leverage; I focus on the areas I have particular knowledge of, Education and Renewable Energy. Typically my investments last a few months and rarely last as long as a year.
Innoviz Technologies Announces Compliance with Critical Automotive-Grade Standard, Streamlining Adoption by Leading Automakers Pursuing Automated Driving
Innoviz achieves compliance with IATF 16949:2016 for its R&D and manufacturing facilities, essential for seamless integration with consumer vehicle programs.
Feb 08, 2022, 08:00 ET
https://www.prnewswire.com/news-releases/innoviz-technologies-announces-compliance-with-critical-automotive-grade-standard-streamlining-adoption-by-leading-automakers-pursuing-automated-driving-301477581.html
TEL AVIV, Israel, Feb. 8, 2022 /PRNewswire/ -- Innoviz Technologies, Ltd., (Nasdaq: INVZ), a leading provider of high-performance, solid-state LiDAR sensors and perception software, is pleased to announce that it has achieved compliance with automotive standard IATF 16949:2016. The compliance statement recognizes Innoviz for developing its own automated manufacturing processes and complying with this standard itself in addition to its supply chain.
The International Automotive Task Force (IATF) is charged with providing improved quality products to automotive consumers worldwide and is composed of world-leading automotive manufacturers, including Innoviz's partner BMW. The IATF 16949:2016 standard is the most widely used quality management standard for the automotive industry and certifies that Innoviz has the process-oriented quality management systems to enable continued improvements, prevent defects, and reduce variation and waste in the supply chain.
This certification is proof that Innoviz has solved the manufacturing challenge of producing high-quality LiDAR consistently and quickly, making it easier for Tier-1 suppliers and automakers beyond its partners Magna International, Aptiv, HiRain, Harman International Industries, and BMW, to adopt Innoviz's LiDAR technology for advanced driver-assistance systems (ADAS) and autonomous driving applications.
"The mass deployment of autonomous vehicles is fully dependent upon the industry's ability to manufacture automotive-grade LiDAR technology that meets both performance and cost requirements," said Omer Keilaf, CEO and co-founder of Innoviz. "We've been working closely with the automotive industry for years to develop our LiDAR technology. Not only does this recognition put us in a strong position to capitalize on the consumer AV market, but as a third-party validation, this is also further proof of our efforts to make our products as reliable and safe as any other car part"
"Achieving IATF compliance marks a major milestone for Innoviz and positions us ahead of the competition in the market for automotive-grade LiDAR technologies," said Shmuel Mironi, director of quality and reliability at Innoviz. "Our team is driven by a commitment to quality and safety above all else, and we're pleased our efforts have paid off."
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 elected both by an internationally-recognized premium car brand 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 www.innoviz.tech.
Media Contact
Media@innoviz-tech.com
Investor Contact
Maya Lustig
Innoviz Technologies
+972 54 677 8100
Investors@innoviz-tech.com
Facebook post and video
At following link: https://www.facebook.com/InnovizTechnologies/videos/456837359443869/
CES 2022: Kickstarting the Year of InnovizTwo
February 1, 2022
https://innoviz.tech/blog/ces-2022-kickstarting-the-year-of-innoviztwo
We’ve Been Busy Making AVs Safe for Consumers
Innoviz made its return to the CES floor with not one, but three products to show consumers! It was an incredible way to kickstart the New Year and demonstrate what we accomplished during some globally challenging times.
The Grizzly at CES: Featuring InnovizOne
First up, we drove attendees around in our Grizzly demo vehicle outfitted with InnovizOne. BMW selected our InnovizOne technology for its consumer program, and it’s now in such high demand that there’s a waitlist. It’s important for us to showcase that our LiDAR technology is “the real deal,” meaning it’s available now and sees what humans and other technologies might miss in a variety of on-road scenarios.
The team brought the Grizzly to New York twice last year. The demo vehicle is typically kept at our San Jose office for media and local government representatives to ride. Innoviz was excited to bring the Grizzly to Las Vegas, as the strip is a perfect backdrop! A LiDAR point cloud is worth a thousand words. When people see our product first-hand, they get the “WOW factor.”
Introducing InnovizTwo: The Next Generation LiDAR Solution
For the first time at CES, Innoviz presented InnovizTwo, our next-gen LiDAR solution for autonomous vehicles. Our talented engineers put in lots of hard work, despite remote work mandates due to COVID-19, to deliver breakthrough performance for our automotive-grade LiDAR solution for Level 2+ to Level 4 automated driving, the InnovizTwo.
Introducing Innoviz360: Greater Coverage for Less Cost
Our innovation didn’t stop with the InnovizTwo. We also debuted Innoviz360 for the first time, marking our first foray into 360° LiDAR. Innoviz360 features 360° x 64° degree coverage, up to 1280 scanning lines and 300m range, at a lower price point than other spinning LiDARs on the market. Consumers are likely most familiar with 360° LiDAR designs, which can be seen today mounted on top of robotaxis, demo cars and shuttles.
These designs played an important role in advancing automated driving development and bringing LiDAR into the mainstream. However, they’re complex, bulky systems that cost tens of thousands of dollars and are un-suited to meet durability requirements for automotive-grade production. We were excited to demonstrate our modern take on the spinning LiDAR design with Innoviz360, solving size, price, and durability challenges of the legacy designs.
Reflections from the “LiDAR Pit”
From Innoviz’s position at CES, there were a lot of LiDAR developments for the audience to explore; it was more important than ever to set ourselves apart.
In addition to the latest product announcements, during the show, Innoviz announced a collaboration with Twinner, a German-based digital twin generator for the automotive industry. This use case showed the value of LiDAR and its ability to provide a 360° view, which can better assess, inspect and evaluate a vehicle’s condition digitally. Twinner has partnered with several large auto manufacturers, sellers, and logistics companies across Europe and China,. Online car sales are becoming popular amongst consumers, so this was a great way to enter into that conversation.
We were also lucky to have a cohort of MIT students stop by our booth. They included familiar faces from the MIT Sloan School of Management’s Israel Lab. These impressive students spent the fall semester learning about Innoviz to offer actionable insights on go-to-market strategies, competitive analysis, customer acquisition, pricing, and more. If it weren’t for the pandemic, we would have welcomed these fine minds to our HQ in Tel Aviv, but we’re glad they were able to join us in Las Vegas.
What’s on the Road Ahead for LiDAR Systems?
Many LiDAR companies have an achilles heel. Their sensor stacks are limited in their ability to deliver the real-world specifications necessary for true Level 2+ driving. Our ability to develop and produce automotive-grade LiDAR in-house allows us with direct access to automakers, and gives Innoviz a competitive edge. We’re proud of our work. It’s secured us a spot among the top five leaders in the market, and our sights are set on the top position. InnovizTwo samples are in the hands of the automotive community. It’s only a matter of time before it takes the market by storm. We’re already seeing RFQs change to match the performance levels we’re setting for the industry.
I’m optimistic about developing a pathway to regulation. As a member of the LiDAR Sensor Standards Consortium, Innoviz looks forward to playing a leading role in creating standards and regulations that guarantee safety for all road users.
Innoviz Technologies at CES 2022
Jan 26, 2022
Innoviz Technologies
Showcasing our products InnovizOne, InnovizTwo and Innoviz360 at CES 2022.
Video recording of the Innoviz Webinar: The LiDAR Standards for L3 Autonomy
Jan 7, 2022
Innoviz Technologies
CEO Omer Keilaf presents Innoviz Technologies' groundbreaking white paper on LiDAR requirements for safe driving of a Level 3 automated vehicle at highway speeds.
Download the full white paper here: https://innoviz.tech/designing-a-level-3-lidar-for-highway-driving
Holding all mine long term adding on all dips, Your research is appreciated!
Innoviz white paper: DESIGNING A LEVEL 3 RADAR FOR HIGHWAY DRIVING (Link to paper: https://innoviz.tech/wp-content/uploads/Designing-a-Level-3-LiDAR-for-Highway-Driving_3Jan22.pdf)
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Innoviz LiDAR Pilot Launched to Enhance Twinner Vehicle Inspection Scanning Capabilities
January 06 2022 - 08:00AM, PR Newswire (US)
https://ih.advfn.com/stock-market/NASDAQ/innoviz-technologies-INVZ/stock-news/86958751/innoviz-lidar-pilot-launched-to-enhance-twinner-ve
TEL AVIV, Israel and HALLE, Germany, Jan. 6, 2022 /PRNewswire/ -- Innoviz Technologies (Nasdaq: INVZ), a leading provider of high performance, solid-state LiDAR sensors and perception software, today announced its collaboration with Twinner, a German-based vehicle scanner provider for remarketing and inspection purposes within the automotive industry, to enhance the capabilities of its sophisticated car scanner. Twinner is testing InnovizOne LiDAR with its Digital Twinn® platform to provide a high-quality 360-degree view of the vehicle in order to better assess, inspect and evaluate a vehicle's condition.
The Digital Twinn® allows cars to be inspected, bought and sold online anytime and anywhere.
Twinner's Digital Twinn® solution utilizes x-ray-like automotive scanning technology to generate a high-quality digital twin model of the vehicle – including its body, roof, underbody, interior and more – to identify defects that would otherwise go unnoticed by the human eye. The Digital Twinn can spot, for example, a scratch on the rim of a tire or a tiny dent on a bumper as well as identify whether a vehicle has previously been repainted so that auto manufacturers, fleet owners, service providers, car dealers and consumers can make better-informed vehicle investment decisions. Twinner has partnered with several large auto manufacturers, sellers, and logistics companies across Europe and Asia.
The integration of Innoviz's automotive-grade, solid-state InnovizOne LiDAR into Twinner's existing sensor suite, which includes multispectral sensors, would enable new features by providing 3D information about the vehicle. Furthermore, Twinner will evaluate Innoviz's rich point cloud data and APIs to support its own perception software. The ability to disclose a vehicle's condition offers value across the automotive ecosystem by providing transparency to car makers, fleet operators, car dealers, and service providers competing in a newly digitized space.
"At Innoviz, we're all about raising the bar on transparency," said Omer Keilaf, CEO and co-founder of Innoviz. "The team at Twinner is driven by a similar philosophy and we're excited to collaborate with them to integrate our high-resolution, solid-state LiDAR technology with their Digital Twinn solution. The inclusion of InnovizOne will further enhance Digital Twinn's value proposition as one of the most sophisticated and accurate scanner for the automotive industry, integrating both remarketing and inspection services."
"Creating transparency and building trust in the automotive space is at the core of our efforts. We are always looking for the most innovative technology partners that share a common vision," said Twinner CEO Silvan Cloud Rath. "Innoviz is a natural partner in our effort to create greater trust in digital transactions."
One of the leading online used car retailers, Carvana, sold approximately 244,000 vehicles online in 2020 (one every 2.2 minutes on average – up 37 percent from the previous year). As digital technologies change the way consumers buy cars, auto makers and car dealers are making significant investments in technologies capable of informing online purchases. The future of a completely digital car-buying experience is around the corner and Innoviz will benefit from being involved in this rapidly growing market.
About Twinner
Founded in 2017, Twinner® is on a mission to revolutionize the automotive industry. Twinner®'s technology makes it possible to create digital images of vehicles so that they no longer need to be viewed in person at specific times in specific locations. In this way, the company brings transparency, security and trust to one of the largest sales markets in the world. Twinner® obtains an incomparably large data set from each vehicle, based on which a Digital Twinn®, i.e., a "digital twin", is created, with which the customer can virtually see more than if he were standing in front of the vehicle themself. The start-up company from Halle has a team of more than 150 experts, all of whom have extensive experience in the automotive and start-up sectors as well as innovation sectors. For more information, visit twinner.com/.
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 elected both by an internationally-recognized premium car brand 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 www.innoviz.tech.
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Contact Information
media@innoviz-tech.com
Investor Contact
Maya Lustig
Innoviz Technologies
+972 54 677 8100
Investors@innoviz-tech.com
Innoviz Technologies Introduces Innoviz360, a New HD LiDAR Category with 10x the Performance and Significantly Lower Cost Versus Existing Solutions
January 5, 2022 - 8:00 am
https://www.stocktitan.net/news/INVZ/innoviz-technologies-introduces-innoviz360-a-new-hd-li-dar-category-i6b4cvvzt6xt.html
Summary
- Innoviz360 is a new, patent-pending HD LiDAR architecture that represents a breakthrough in performance versus traditional standard resolution spinners.
- The new Innoviz360 features 360°x64° degree coverage, 0.05°x0.05° resolution, and up to 1280 scanning lines and 300m range while cutting down the cost significantly versus other solutions.
- Featuring the innovative automotive-grade LiDAR architecture that Innoviz is known for, Innoviz360 is compatible with Shuttles, Robotaxis and Trucks in the automotive space (L4-L5) as well as many non-automotive applications.
- The new product complements InnovizOne and InnovizTwo, front looking LiDARs that are targeting high level of automation and are optimized for passenger vehicles (L2-L3).
- Innoviz360 is expected to generate revenues starting in 2023. Innoviz360 adds new total addressable market (TAM) for non-automotive applications which is expected to be $20B by 2030, in addition to $55B TAM for automotive applications.
- Innoviz expects samples of its Innoviz 360 HD LiDAR to be available in Q4 2022. On Wednesday and Thursday, January 5 and 6, at 4:00 pm PT, Innoviz management will host a happy hour at the Innoviz booth #3855 at CES 2022 in Las Vegas, Nevada.
Innoviz Technologies Ltd. (Nasdaq: INVZ) (the "Company" or "Innoviz"), a leading provider of high-performance, reliable and affordable LiDAR sensors and perception software, introduces a next-generation sensor to its product line - the Innoviz360.
After delivering on its InnovizTwo LiDAR promises, Innoviz continues to demonstrate its ability to innovate and launch new product lines with the Innoviz360. This third-generation LiDAR product will be offered alongside Innoviz's perception software, which converts the LiDAR's raw point cloud data into high-quality outputs for outstanding object detection, classification and tracking.
The new Innoviz360 HDLiDAR sensor represents a breakthrough that leapfrogs traditional, standard-resolution spinner solutions that are performance limited, expensive, big and unreliable. Unlike traditional spinner solutions that are performance limited with only up to 128 scanning lines, the new, lightweight, Innoviz360 LiDAR allows multiple scanning software configurations with up to 1280 scanning lines (10x) at a cost-effective and durable solution than traditional 360 LiDARs.
Innoviz360's HD, wide FoV (360 ° x64 ° ) and reduced cost will help overcome major challenges in achieving full automation in scale for L4-L5 automotive applications, such as robotaxis, shuttles and trucks, and opens new market opportunities for Innoviz beyond the automotive space. These industries include logistics, mapping, industrial and smart infrastructures, which are expected to provide new meaningful r evenues for the Company starting in 2023. Innoviz expects samples of its Innoviz 360 HD LiDAR to be available in Q4 2022.
"After successfully solving the limitations of LiDARs for the passenger vehicle industry with InnovizTwo, we are excited to bring the disruption to the spinner category with our new Innoviz360 HD LiDAR", said Innoviz Co-Founder and CEO Omer Keilaf. "With its high-resolution and wide field of view, the new architecture breaks through the performance and cost limitations of traditional and standard-resolution 360 spinners which will support not only the needed growth in the automotive market, but also in emerging markets such as smart infrastructure, logistics and Industrial".
The new Innoviz360 LiDAR can serve platforms such as the NVIDIA DRIVE, an end-to-end development platform and reference architecture for designing and safely deploying autonomous vehicles .
"New solutions and innovations such as the Innoviz360 running on our open and scalable DRIVE platform can help the industry achieve truly autonomous transportation , " said Gary Hicok, Senior Vice President of Engineering at NVIDIA .
Demonstration of Innoviz products at CES 2022:
Innoviz will demonstrate its LiDAR technologies at the upcoming CES® in Las Vegas, Nevada, from January 5-8, 2022. This will be the first ever opportunity for the public to observe InnovizTwo's performance. In addition to InnovizTwo, Innoviz will also be demonstrating the InnovizOne LiDAR sensor at the show floor in booth #3855, and will be conducting a driving demonstration of InnovizOne on the streets of Las Vegas.
Additional demonstration of InnovizOne at CES® will be in REE's booth #4865, where the high-performance automotive-grade LiDAR sensor will be displayed on REE's brand new autonomous delivery concept vehicle platform, the Leopard.
Events and media availability:
- On Wednesday, January 5, at 12PM PT, Innoviz CEO Omer Keilaf will host a webinar regarding the new Innoviz360 LiDAR. Attendees can join the meeting from their computer or Teams mobile app. To view the presentation, please click here.
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- On Wednesday and Thursday, Jan 5 and 6, Innoviz management will host a happy hour in booth number 3855 in the West Hall at 4:00 pm PT.
- Innoviz Co-Founders CEO Omer Keilaf and CBO Oren Rosenzweig will be available for media interviews and investor briefings. To coordinate a press briefing, live demo or a ride along in the Innoviz 'Grizzly' (demo vehicle) on the streets of Las Vegas during CES, please contact: media@innoviz-tech.com. To coordinate an investor briefing during CES, please contact: investors@innoviz-tech.com.
Innoviz location: Booth #3855, West Hall
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 elected both by an internationally-recognized premium car brand 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 www.innoviz.tech .
Media Contact
Media@innoviz-tech.com
Investor Contact
Maya Lustig
Innoviz Technologies
+972 54 677 8100
Investors@innoviz-tech.com
Ansys and Innoviz Technologies Enable Autonomous Driving Revolution with Next-Gen LiDAR Design
Simulation accelerates high-performing LiDAR development resulting in an optimized design, satisfying strict industry requirements
Jan 04, 2022, 09:00 ET
https://www.prnewswire.com/news-releases/ansys-and-innoviz-technologies-enable-autonomous-driving-revolution-with-next-gen-lidar-design-301453338.html
Summary
- Ansys' product portfolio offers a comprehensive set of solutions for the development of a complex micro electrical mechanical LiDAR system
- Ansys tools helped Innoviz Technologies reduce product development by two full design cycles over one and a half years, significantly reducing costs
Innoviz Technologies is using Ansys (NASDAQ: ANSS) simulation solutions to successfully drive the technology behind their unique automotive-grade LiDAR sensor and achieve autonomy for their customers—while reducing development time and costs. Ansys enables Innoviz Technologies to meet their customers' objectives for durability, reliability, and affordability in a LiDAR design that is seamlessly integrable into Level 3-5 autonomous vehicles.
A study from the U.S. Department of Transportation's National Highway Traffic Safety Administration found the majority of serious crashes are caused by human error, a statistic that is incentivizing autonomous vehicle development to improve safety on the road. Autonomous vehicles depend on the sensing capability of various components, including LiDARs, radars and cameras. LiDAR delivers the high-resolution, long-range 3D image perception needed to safely guide vehicle movement. The challenge for automotive manufacturers is that available LiDARs are not close to meeting industry standards for performance, size, reliability, and cost perception. Packaging these very complex optical sensor technologies tied to numerous systems presents challenges in both their production and operation.
The success of the team depended on simulation and testing of various aspects of LiDAR design and optics. Drawing on the power of Ansys multiphysics capabilities, Innoviz relied on Ansys® Mechanical™, Ansys® Fluent®, Zemax and Ansys® Maxwell® simulation software, working seamlessly together to successfully address LiDAR system complexity. Through extensive simulation and testing, an extreme integration of components into a single chip was accomplished requiring minimal design iterations and enabling a more compact LiDAR system. This high-performance, reliable LiDAR solution meets the necessary automotive performance characteristics and size requirements manufacturers are looking for at a much lower price point.
"We use many types of simulations in the Ansys ecosystem across the entire design chain of our product," said Oren Buskila, chief R&D officer and co-founder at Innoviz. "We rely on Ansys capabilities to run structural analysis to understand the stresses and temperature variations of our chips. We also use Ansys for dynamic simulation to understand vibration characteristics, and thermal simulation to see if we can dissipate the amount of power from the main components inside, like the laser. Ansys provides excellent simulation software and we value their experience in the automotive space to help us solve our biggest design challenges."
"Our vast simulation and growing multiphysics capabilities support exploration and discovery in advanced autonomous technologies," said Shane Emswiler, senior vice president of products at Ansys. "More complex optical applications like LiDARs require a higher degree of predictive accuracy in their execution. Our tools interface well, both inside and outside our product portfolio, to help our customers quickly move through design cycles with confidence. Simulation software is a game changer in the development of a new generation of more complex LiDAR systems that will accelerate autonomous vehicle adoption."
About Ansys
If you've ever seen a rocket launch, flown on an airplane, driven a car, used a computer, touched a mobile device, crossed a bridge or put on wearable technology, chances are you've used a product where Ansys
software played a critical role in its creation. Ansys is the global leader in engineering simulation. Through our strategy of Pervasive Engineering Simulation, we help the world's most innovative companies deliver radically better products to their customers. By offering the best and broadest portfolio of engineering simulation software, we help them solve the most complex design challenges and create products limited only by imagination. Founded in 1970, Ansys is headquartered south of Pittsburgh, Pennsylvania, U.S.A. Visit www.ansys.com for more information.
Ansys and any and all ANSYS, Inc. brand, product, service and feature names, logos and slogans are registered trademarks or trademarks of ANSYS, Inc. or its subsidiaries in the United States or other countries. All other brand, product, service and feature names or trademarks are the property of their respective owners.
Invitation for Innoviz CEO's White Paper Virtual Workshop: Establishing LiDAR Standards for Safe Level 3 Automated Driving 3rd Jan 11:00 EST
Dec 28, 2021, 08:12 ET
Link to article
TEL AVIV, Israel , Dec. 28, 2021 /PRNewswire/ --Â Innoviz Technologies Ltd. (NASDAQ: INVZ ), a leading provider of high-performance LiDAR sensors and perception software, invites you to join Co-Founder and CEO Omer Keilaf for a live virtual workshop on January 3, 2022 , at 11:00 am EST . The workshop will introduce chapters from a new white paper, written by Mr. Keilaf, that address the different aspects of designing a LiDAR for a Level 3 automated vehicle platform and show how these aspects translate to the design and requirements of an automotive-grade LiDAR sensor that ensures road safety and system performance at all speeds and across all environments. To register for the workshop, visit https://bit.ly/3mqZ9cW . The white paper will be available on Innoviz's website following the event.
According to the World Health Organization, over 1.3 million people across the globe die in traffic collisions and up to 50 million people suffer from road-related injuries each year. Transportation is a major part of our lives and best engineering practices should be applied to minimize road dangers and the potential for human error. The workshop will address design requirements and considerations for ensuring safe driving in a Level 3 automated vehicle during an emergency braking event, including an analysis of key parameters such as horizontal and vertical field of view, horizontal and vertical resolution, detection range, frame rate and reflectivity response.
"We've learned a lot over the past 6 years, working hand-in-hand with automotive OEMs and Tier-1 suppliers to develop cutting-edge LiDAR for Level 3 automated systems, where humans aren't driving when the automated driving features are engaged," said Innoviz Co-founder and CEO Omer Keilaf . "I'm proud of what my team has accomplished and look forward to sharing our knowledge with the industry in hopes of accelerating the reality of truly autonomous transportation for all."
Innoviz was recently selected to participate in a consortium with OEMs and Tier-1 suppliers to inform common sensor specifications and characterization guidelines, and common and application-relevant evaluation frameworks. Innoviz will continue to invest in standardization efforts and educational initiatives to ensure that LiDAR is used to make roads safer for passengers and pedestrians alike.
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 elected both by an internationally-recognized premium car brand 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 www.innoviz.tech .
Japan's Largest Construction Company, Obayashi, Selects Innoviz's LiDAR for its New Proprietary Automatic Tower Crane System
December 17 2021 - 12:55PM, PR Newswire (US)
https://ih.advfn.com/stock-market/NASDAQ/innoviz-technologies-INVZ/stock-news/86844530/japans-largest-construction-company-obayashi-sel
TEL AVIV, Israel and TOKYO, Dec. 17, 2021 /PRNewswire/ -- Innoviz Technologies (Nasdaq: INVZ), a leading provider of high-performance solid-state LiDAR sensors, and Obayashi Corporation (TYO: 1802), a major Japanese construction company, today announced Obayashi's development of an automated tower crane system that utilizes Innoviz's LiDAR sensors. Obayashi's automated tower crane system is part of its recently announced autonomous solutions for excavation equipment, construction of concrete dams and backhoe loaders.
Obayashi Construction Crane in Japan
Obayashi began using Innoviz's LiDAR on their sites in 2018 and is currently in the process of developing a full-scale system for building sites throughout Japan. Obayashi's recognition software extracts the data generated by Innoviz's LiDAR to measure the exact distance from objects and identify people and equipment in construction areas. Obayashi's system uses the data to send a series of step-by-step warnings to the crane operator, which enhances safety and enables a more streamlined and efficient process. Using Innoviz's LiDAR together with Obayashi's proprietary software has resulted in substantial savings related to the manual operation of the crane.
Obayashi's engineering team said: "Obayashi has been testing Innoviz's products for three years now, and we have great confidence in the company's solutions. We are very satisfied with Innoviz's LiDAR performance, reliability, and durability."
Omer Keilaf, Co-founder and CEO of Innoviz Technologies, commented: "We were thrilled to see the result of Obayashi's use of our LiDAR. This is a cutting-edge solution and a true testimony that our LiDAR can be used in a significant number of use cases. We believe we will see more partnerships like this come to fruition. Additionally, we're grateful to our distributor and partner, Macnica, for connecting us with Obayashi's innovative team."
Innoviz is represented in Japan by Macnica, the country's largest distribution company.
About Obayashi Corporation
Obayashi Corporation was established in 1892 and is one of the five super general contractors in Japan. Its main business is construction, including regional development, urban development, resource and energy development, and environmental development, as well as civil engineering, including research, surveying, planning, devising, design, and supervision. The company has approximately 15,000 employees and 21 offices in 14 countries. The company has a high level of technology backed by history and tradition, and actively introduces new technologies. For more information on Obayashi's autonomous solutions, please click here.
www.obayashi.co.jp
About Macnica, Inc.
Since its establishment in 1972, Macnica has been providing leading-edge semiconductors, electronic devices, networking and cyber security products with added technological value. In recent years, Macnica has been developing new businesses in the fields of AI/IoT, automated driving, and robotics, based on its traditional strengths of global sourcing of cutting-edge technologies and technology planning. The company is headquartered in Yokohama, Japan, and conducts global business based on 85 offices in 23 countries around the world. For more information, please visit Macnica's website at www.macnica.com.
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 elected both by an internationally-recognized premium car brand 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 www.innoviz.tech.
Join the discussion: Facebook, LinkedIn, YouTube, Twitter
Media Contact
Innoviz Technologies
Media@innoviz-tech.com
Investor Contact
Maya Lustig
Innoviz Technologies
+972 54 677 8100
Investors@innoviz-tech.com
Macnica
Sales : sue-r@macnica.co.jp
Innoviz: LiDAR Sensors Driving Growth
Shalu Sara, Dec 16, 2021, 07:01 AM
https://www.tipranks.com/news/article/innoviz-lidar-sensors-driving-growth?utm_source=advfn.com&utm_medium=referral
Innoviz Technologies (NASDAQ:INVZ) is an Israeli technology firm that makes light detection and ranging (LiDAR) sensors for autonomous vehicles.
InnovizOne and InnovizTwo are solid-state LiDAR sensors built exclusively for automotive applications by Innoviz. They’re tough, light, and suitable with Level 3-5 self-driving cars.
In April, the firm went public through a SPAC merger in order to generate fresh funds from investors searching for innovative options in the advanced automotive sector.
Strong LiDAR Market Growth
In recent years, LiDAR technology has become a critical sensor for producers of self-driving cars and vehicles with advanced driver assist systems (ADAS), as it helps to ensure their safety.
According to a report from MarketsandMarkets, the LiDAR market is expected to grow from $1.3 billion in 2021 to $3.4 billion in 2026.
The need for LiDAR is expected to rise in the near future as more vehicles are equipped with ADAS or, possibly, autonomous highway driving capabilities.
Given the stupendous growth in this market, Innoviz is sure to gain from it.
Growth Catalysts
Innoviz’s rising presence in the LIDAR industry, bolstered by its unique product range and constant efforts to win new contracts, should act as major catalysts.
Last month, the business announced a partnership with JueFX, an AI-driven technology firm, to deploy InnovizOne LiDAR on traffic poles and bridges to monitor traffic behavior in real-time.
The latest agreement should strengthen Innoviz’s foothold in the LIDAR market.
Innoviz recently released its 3Q21 earnings, which showed a 106% rise in overall revenues from the year-ago quarter. On the cash front, the company’s cash position climbed to $324.6 million in the third quarter, up from $58.0 million in the year-ago quarter.
Aside from that, the quarterly report served as a reminder to investors that Innoviz is working hard to maintain its position as the industry’s top LiDAR provider. Indeed, the company showed continued progress on key automotive programs.
Furthermore, Innoviz CEO Omer Keilaf expressed optimism about forming additional collaborations in the future.
He said, “As the global LiDAR market moves towards the convergence on multiple programs, Innoviz is uniquely positioned to secure new design wins due to our extensive automotive experience, our growing capabilities, and our portfolio of products.”
Wall Street’s Take
Turning to Wall Street, the stock has a Strong Buy consensus rating, based on 3 unanimous Buys assigned in the past three months. Meanwhile, the average Innoviz price target of $10 implies 63.7% upside potential to current levels.
Which one will win?
6 Lidar Companies Are Battling for Business. One Is Trumpeting Low Costs.
By Al Root Oct. 6, 2021 10:48 am ET
Self-driving cars are coming, and most automotive insiders believe they need lidar to reach full driving autonomy. That’s caused a land rush for lidar makers, which are rushing to launch products and establish themselves in the minds of global auto makers.
One of the lidar players—Innoviz (ticker: $INVZ)—believes it can win the lidar wars by offering the lowest-cost technology.
https://www.barrons.com/articles/6-lidar-companies-are-battling-for-business-one-is-trumpeting-low-costs-51633531692
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