Innoviz Technologies Ltd (INVZ)

[WeTheMarket]

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:

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.