Innoviz will provide InnovizTwo LiDAR sensors and perception
software
- 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.
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Forward Looking Statements
This announcement contains certain forward-looking statements
within the meaning of the federal securities laws, including
statements regarding the services offered by Innoviz, the
anticipated technological capability of Innoviz's products, the
markets in which Innoviz operates, Innoviz's forward-looking order
book, and Innoviz's projected future results. These forward-looking
statements generally are identified by the words "believe,"
"project," "expect," "anticipate," "estimate," "intend,"
"strategy," "future," "opportunity," "plan," "may," "should,"
"will," "would," "will be," "will continue," "will likely result,"
and similar expressions. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. "Forward-looking
order book" is the cumulative projected future sales of hardware
and perception software based on current estimates of volumes and
pricing relating to a project. Many factors could cause
actual future events, and, in the case of our forward-looking order
book, actual orders, to differ materially from the forward-looking
statements in this announcement, including but not limited to, the
ability to implement business plans, forecasts, and other
expectations, the ability to convert design wins into definitive
orders and the magnitude of such orders, the ability to identify
and realize additional opportunities, and potential changes and
developments in the highly competitive LiDAR technology and related
industries. The foregoing list of factors is not exhaustive. You
should carefully consider the foregoing factors and the other risks
and uncertainties described in Innoviz's annual report on Form 20-F
filed with the SEC on March 30, 2022
and other documents filed by Innoviz from time to time with the
SEC. These filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and Innoviz assumes no obligation and does not intend
to update or revise these forward-looking statements, whether as a
result of new information, future events, or otherwise. Innoviz
gives no assurance that it will achieve its expectations.
Video - https://www.youtube.com/watch?v=Hwi8wTTcnGM
Photo -
https://mma.prnewswire.com/media/1870732/Omer_Keilaf.jpg
Photo -
https://mma.prnewswire.com/media/1870733/Innoviz_VW_Design.jpg
Logo -
https://mma.prnewswire.com/media/1496323/Innoviz_Technologies_Logo.jpg
Media Contact
media@innoviz-tech.com
Investor Contact
Maya
Lustig
Innoviz Technologies
+972 54 677 8100
investors@innoviz-tech.com
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SOURCE Innoviz Technologies