The agreement between the two companies adds short-range LiDARs into the OEM's L4 Autonomous Driving Platform

TEL AVIV, Israel, June 26, 2024 /PRNewswire/ -- Innoviz Technologies Ltd. (Nasdaq: INVZ) (the "Company" or "Innoviz"), a leading Tier-1 direct supplier of high-performance automotive-grade LiDAR sensors and perception software, today announced a collaboration with an automotive OEM to advance its L4 autonomous vehicle capabilities. This agreement adds Innoviz's new short-range LiDARs into the OEM's Level 4 autonomous driving platform. The Company expects the collaboration will result in a series production nomination in the coming months, pending agreement of commercial terms.

Innoviz's Short-Range LiDAR joins the InnovizTwo product platform that includes InnovizTwo Long-Range and InnovizTwo Slim. With high-resolution detection and over 90-degree vertical field of view, the new short-range design is based on InnovizTwo Long-Range architecture. It leverages the product's industrialization maturity and is designed to meet the requirements for light commercial vehicles, shuttles, robotaxis, and trucks. This new development phase was meticulously designed over the past six months to align with the OEM's stringent RFQ (Request for Quotation) requirements. With the OEM planning to integrate multiple short-range LiDARs for each of its L4 autonomous vehicles, the partnership is well positioned to advance a safe and powerful autonomous driving experience.

"This is an exciting moment for Innoviz as we collaborate with a major global OEM on a new product," said Omer Keilaf, CEO and Co-Founder of Innoviz Technologies. "As the L4 market is starting to ramp-up, we are happy to be able to provide a complete set of solutions to meet the needs of OEMs worldwide and support the acceleration of AV adoption across all sectors."


About Innoviz
Innoviz is a global leader in LiDAR technology, serving as a Tier 1 supplier to the world's leading automotive manufacturers and 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. 

 

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