TEL AVIV, Israel and
SEOUL, South Korea, May 3, 2021 /PRNewswire/ -- Innoviz
Technologies (Nasdaq: INVZ), a leading provider
of high-performance, solid-state LiDAR sensors and perception
software, and Vueron Technology, a leading South Korean provider of
LiDAR perception software and autonomous driving technology, will
cooperate in building an autonomous driving platform for LiDAR-only
self-driving vehicles.
Renowned for its cutting-edge technology, Vueron received one of
the few self-driving permits issued by the South Korean government
in January of this year. Following receipt of the permit,
Vueron executed a 414-kilometer, fully automated, LIDAR-only drive
from the capital city of Seoul to
the southern port city of Busan,
at a maximum speed of 100 km/hr. The mandated safety driver on
board did not hold the steering wheel at any time during the full
five hours of the historic drive.
"At Innoviz, we are passionate about solving the challenges
associated with autonomous driving and bringing the most reliable
and highest-resolution LiDAR to the market," said Omer Keilaf, CEO
and co-founder of Innoviz. "We are impressed by Vueron's
high-performance LiDAR perception software and appreciate
their unique understanding of the automotive LIDAR market in
South Korea. Innoviz's LiDAR and
Vueron's software jointly enable an accurate and reliable LiDAR
solution that meets the needs of customers in this region. We are
looking forward to joining together with Vueron and pioneering the
future of autonomous driving with them."
"We are pleased to partner with Innoviz and use their
solid-state LiDAR sensor, InnovizOne, in our autonomous vehicles,"
said Joseph Kim, CEO of Vueron. "We
see InnovizOne as the front-runner in LiDAR technology and design
and highly recommend it to our peers. Both companies are fortunate
to have had the same early-stage investor, Naver, and we take this
opportunity to congratulate Innoviz for becoming a NASDAQ-traded
company last month. We look forward to many years of fruitful
cooperation, using Innoviz LiDAR in our solutions for ADAS,
autonomous vehicles, industrial safety, IOT and security
systems."
About Innoviz Technologies
Innoviz is a leading provider of technology that will put
autonomous vehicles on roads. Innoviz's LiDAR technology can "see"
better than a human driver and meets the automotive industry's
strict expectations for performance, safety and price. Selected by
BMW for its fully autonomous car program, Innoviz's technology will
be deployed in its consumer vehicles. Innoviz is backed by top-tier
strategic partners and investors, including SoftBank Ventures Asia,
Samsung, Magna International, Aptiv, Magma Venture Partners, and
others. For more information, visit www.innoviz.tech.
About Vueron Technology
On a mission to make people safe by providing the best LiDAR
solution, Vueron, founded in 2019, provides cutting-edge LiDAR
perception software for ADAS, autonomous vehicles, and industrial
safety and security systems. Vueron's AI-based algorithms have
enabled a high performance, stable and practical perception
software to identify all objects around the sensor using very low
compute resources. Partnered with automotive OEMs, Tier-1s and
other industry players, Vueron has developed practical LiDAR
perception solutions to meet clients' requirements. For more
information, visit http://vueron.org/
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Innoviz Technologies
Contact Information
Media@innoviz-tech.com
Investor Contact
Maya
Lustig
Innoviz Technologies
+972 54 677
8100
Investors@innoviz-tech.com
Gateway Investor Relations
Cody Slach or Matt Glover
(949) 574-3860
Investors@innoviz-tech.com
Vueron Technology
Contact Information
info@vueron.org
Investor Contact
Seungyong Lee
Vueron
Technology
+82 10 5434
7249
sylee@vueron.org
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 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. Many factors
could cause actual future events 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 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 April 21, 2021 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.
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SOURCE Innoviz Technologies