Innoviz Technologies Ltd (INVZ)

[WeTheMarket]

Innoviz Technologies Announces Cooperation with Vueron Technology for LiDAR-Only Autonomous Driving
May 03 2021 - 07:00AM
PR Newswire (US)

TEL AVIV, Israel and SEOUL, South Korea, May 3, 2021 /PRNewswire/ -- Innoviz Technologies (Nasdaq: INVZ), a leading provider of high-performance, solid-state LiDAR sensors and perception software, and Vueron Technology, a leading South Korean provider of LiDAR perception software and autonomous driving technology, will cooperate in building an autonomous driving platform for LiDAR-only self-driving vehicles.

Renowned for its cutting-edge technology, Vueron received one of the few self-driving permits issued by the South Korean government in January of this year. Following receipt of the permit, Vueron executed a 414-kilometer, fully automated, LIDAR-only drive from the capital city of Seoul to the southern port city of Busan, at a maximum speed of 100 km/hr. The mandated safety driver on board did not hold the steering wheel at any time during the full five hours of the historic drive.

"At Innoviz, we are passionate about solving the challenges associated with autonomous driving and bringing the most reliable and highest-resolution LiDAR to the market," said Omer Keilaf, CEO and co-founder of Innoviz. "We are impressed by Vueron's high-performance LiDAR perception software and appreciate their unique understanding of the automotive LIDAR market in South Korea. Innoviz's LiDAR and Vueron's software jointly enable an accurate and reliable LiDAR solution that meets the needs of customers in this region. We are looking forward to joining together with Vueron and pioneering the future of autonomous driving with them."

"We are pleased to partner with Innoviz and use their solid-state LiDAR sensor, InnovizOne, in our autonomous vehicles," said Joseph Kim, CEO of Vueron. "We see InnovizOne as the front-runner in LiDAR technology and design and highly recommend it to our peers. Both companies are fortunate to have had the same early-stage investor, Naver, and we take this opportunity to congratulate Innoviz for becoming a NASDAQ-traded company last month. We look forward to many years of fruitful cooperation, using Innoviz LiDAR in our solutions for ADAS, autonomous vehicles, industrial safety, IOT and security systems."

Link: https://ih.advfn.com/stock-market/NASDAQ/innoviz-technologies-INVZ/stock-news/84986986/innoviz-technologies-announces-cooperation-with-vu