Innoviz Technologies Ltd (INVZ)

[WeTheMarket]

Innoviz is on track to deliver LiDAR technology for CARIAD in the Coming Years
The software company and Tier 1 LiDAR supplier are also in discussions about a possible extension of their partnership
May 02 2023
https://ih.advfn.com/stock-market/NASDAQ/innoviz-technologies-INVZ/stock-news/90927557/innoviz-is-on-track-to-deliver-lidar-technology-fo

TEL AVIV, Israel, May 2, 2023 /PRNewswire/ -- Innoviz Technologies Ltd. (NASDAQ: INVZ) (the "Company" or "Innoviz"), a Tier-1 direct supplier of high-performance, automotive grade LiDAR sensors and perception software, today announced that it is on-track to deliver LiDAR-technology for CARIAD's future advanced driver assistance systems (ADAS) and automated driving functions.

Since naming Innoviz as its direct LiDAR supplier, Innoviz and CARIAD have been working closely to understand unique engineering needs and to optimize processes that will support the use of LiDAR-enabled ADAS and automated driving systems. CARIAD and Innoviz are evaluating concepts to accelerate the integration of LiDAR systems, aiming to improve time to market and lower overall system costs.

"We are thrilled to further discuss possibilities of expanding our relationship with CARIAD and accelerating the adoption of LiDAR," said Innoviz CEO and Co-Founder, Omer Keilaf, "We are proud to serve CARIAD as a Tier-1 supplier and to collaborate as a like-minded tech leader in the space".

"CARIAD is working on the automated driving of the future as one important pillar in our strategy. For future automated driving functions, we selected Innoviz as our LiDAR partner not only because of their automotive experience and technological expertise, but also for the flexibility and creativity that their team brings to the table," said Anton Stippler, Head of LIDAR and Camera development, at CARIAD.

The companies are actively engaged in advanced testing and on-road validation and are on solid footing to deliver this milestone.

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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