Innoviz Technologies Ltd (INVZ)

[WeTheMarket]

InnovizOne LiDAR Selected by LOXO for Autonomous, Zero-Emission Delivery Vehicles
January 03 2023 - 07:00AM
https://ih.advfn.com/stock-market/NASDAQ/innoviz-technologies-INVZ/stock-news/89893423/innovizone-lidar-selected-by-loxo-for-autonomous

Summary
- LOXO intends to use InnovizOne LiDAR sensors to enable autonomy for its zero-emission autonomous delivery vehicles.
- LOXO will present its autonomous and zero-emission delivery vehicle with InnovizOne LiDAR at the Consumer Electronics Show (CES) on January 7, 2023, 3:30pm, at Innoviz's booth #6553.

TEL AVIV, Israel and BERN, Switzerland, Jan. 3, 2023 /PRNewswire/ -- Innoviz Technologies (NASDAQ: INVZ) (the "Company" or "Innoviz"), a technology leader of high-performance, solid-state LiDAR sensors and perception software, announced today that Switzerland-based LOXO, a provider of zero-emission autonomous vehicles for last-mile delivery services, is planning to use InnovizOne LiDAR to enable autonomy for its delivery vehicles, which allow retailers to transport goods from local distribution hubs to end consumers more efficiently and with fewer emissions.


Integration of InnovizOne LiDAR sensor on LOXO’s zero-emission delivery vehicles (PRNewsfoto/Innoviz Technologies)

Innoviz's planned partnership with LOXO for autonomous delivery services in Switzerland demonstrates the company's continued global expansion. Following the initial evaluation period, LOXO plans to purchase more InnovizOne LiDAR units to support its delivery fleet, with pre-sales for the vehicle beginning as soon as 2023.

To view LOXO's zero-emission delivery vehicles equipped with InnovizOne LiDAR, please click here.

"Tested using to the most rigorous automotive standards, our InnovizOne LiDAR sensor is well-equipped to tackle challenging urban environments and make the delivery of goods more convenient, affordable, and safe," said Omer Keilaf, Co-founder and CEO at Innoviz. "In collaboration with LOXO, we look forward to enabling this critical service for users, especially during the busiest delivery days of the year, and revolutionizing the local transport of goods across cities worldwide."

InnovizOne is a high-performance solid-state LiDAR sensor specifically designed for automakers and robotaxi, shuttle and delivery companies requiring an automotive-grade, mass-producible solution to achieve autonomy. It is purpose-built to be rugged, affordable, reliable, power-efficient, lightweight, and to seamlessly integrate into unique Level 3 to Level5 autonomous vehicle designs ensuring the safety of passengers and pedestrians alike. LOXO vehicles equipped with InnovizOne will be designed to meet the demand from the autonomous last-mile delivery market, which is projected to grow from USD 57.67 billion in 2021 to USD 68.95 billion by 2028.

"At LOXO, we're working at the cutting-edge of autonomous delivery vehicles. As we look forward to deploying our solution on public road in 2023, we have rigorously selected Innoviz' solution to equip our vehicles with the industry-leading LiDAR to ensure the highest levels of safety and operational efficiency," said Amin Amini, Co-Founder & CEO of LOXO. "InnovizOne is expertly engineered to be compact and seamlessly integrate into our electric vehicle design. It's accurate and high-performing, ensuring our vehicles navigate complex and obstacle-ridden urban road networks safely."

LOXO will present its autonomous and zero-emission delivery vehicle use-case with InnovizOne LiDAR at the Consumer Electronics Show (CES) on January 7, 2023, 3:30pm, at Innoviz's booth #6553.

About LOXO
LOXO is providing an intelligent fully automated goods transport system that solves the increasing problems of the last-mile-delivery on the provider's and customers' side: Our technology is enhancing delivery efficiency, flexibility, safety and decreasing the carbon footprint for the benefit of all. LOXO alpha, the first version of LOXO's autonomous vehicle will hit Swiss roads for the first time in early 2023.

We at LOXO, believe that we have the solution for all types and sizes of retailers across the e-food, postal and logistic sectors. For more information, visit: https://www.loxo.ch/en/

Media Contact - LOXO
Lara Amini, Co-Founder, Business & Marketing
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[phone]

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.

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Rob Moffatt
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Innoviz Technologies
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Maya Lustig
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