INVZ Innoviz Technologies Ltd

TEL AVIV and SHENZHEN, China, Aug. 9, 2021 /PRNewswire/ -- Innoviz Technologies (Nasdaq: INVZ), a leading provider of high-performance, solid-state LiDAR sensors and perception software, and Whale Dynamic, a "full-stack" L4 autonomous driving company based in China, today announced their collaboration on Whale Dynamic's next-generation intelligent autonomous driving (AD) platform.  

Whale Dynamic is focused on developing a unified Autonomous Driving platform that incorporates multiple sensors, including LiDAR and high-definition cameras, in order to get a complete and detailed view of the area around the vehicle.  The platform interprets detailed information on the vehicle's surroundings to guide the vehicle using "drive by wire" technology and is a "full stack" or "plug and play" solution for automotive OEMs, robo-taxi companies and autonomous delivery providers.

The new Whale Dynamic AD platform will utilize InnovizOne LiDARs as its primary sensor, replacing the InnovizPro LiDAR used in previous versions.  InnovizOne was selected due to its leading performance, automotive-grade spec., low-power consumption and compact size. 

"We are excited to expand our technology collaboration with Whale Dynamic to bring Innoviz's advanced high-resolution solid-state LiDAR technology to their AD Platform," said Omer Keilaf, CEO and co-founder of Innoviz. "We look forward to collaborating with Whale Dynamics to bring Innoviz's High-Performance LiDAR to L4 Platforms in China, the largest vehicle market in the world."

David Chang, CEO & Founder of Whale Dynamic, commented: "InnovizOne brings us more possibilities to create the world's best sensor fusion design and will also empower our perception algorithm to an unprecedented level. We are looking forward to working together to achieve the goal of building a fully autonomous vehicle capable of completing daily service tasks on public roads."

About Innoviz Technologies

Innoviz is a leading manufacturer of high-performance, solid-state LiDAR sensors and perception software that enable the mass production of autonomous vehicles, as well as various other industrial uses. Innoviz's offerings include InnovizOne, an automotive-grade, mass-producible LiDAR sensor, InnovizTwo, next generation high-performance automotive-grade LiDAR sensor, and Innoviz's perception software, designed to complement its hardware offerings with advanced AI and machine learning-based classification, detection, and tracking features. Innoviz is backed by top-tier strategic partners and investors, including China Merchants Capital (SINO-BLR Industrial Investment Fund, L.P.), Shenzhen Capital Group, New Alliance Capital, SoftBank Ventures Asia, Samsung, Magna International, Aptiv, Magma Venture Partners, Vertex Ventures, 360 Capital Partners, Glory Ventures, Naver, Harel Insurance Investments and Financial Services, Phoenix Insurance Company, and others. For more information, visit www.innoviz.tech.

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About Whale Dynamic

Whale Dynamic is a fast-growing autonomous driving technology company in Shenzhen, China, focused on autonomous driving and intelligent traffic applications. The company holds many fundamental technology patents in vehicle autonomy, from the fields of multi-sensor fusion perception, spatial-temporal synchronization, vehicle embedded system, HD mapping, centimeter level localization and others. Their technology has been widely used by many transportation providers, tier1 companies, universities, and other institutions. Unlike most AD solution companies which only retrofit passenger vehicles for autonomy, Whale Dynamic has used its passenger vehicle autonomy technology in well-designed fully-electric non-passenger autonomous vehicles designated for public road operation and neighborhood daily services. 

Contact Information

Whale Dynamic
business@whaledynamic.com  
coop@whaledynamic.com  

Innoviz Technologies
Media@innoviz-tech.com  

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