TEL AVIV, Israel and
BEIJING, Nov. 3, 2021 /PRNewswire/ -- Innoviz
Technologies (Nasdaq: INVZ), a leading provider of
high-performance, solid-state LiDAR sensors and perception
software, today announced its collaboration with JueFX, an
innovative AI-driven technology company focusing on developing LBS
data engine and offering on-board applications for
autonomous driving. JueFX intends to install InnovizOne LiDAR
on traffic poles and bridges to monitor traffic activity in real
time. JueFX's V2X technology will then share the data with
autonomous vehicles on roads for improved road safety and traffic
efficiency.
JueFX's solutions are focused on the digitalization of road
scenes. The company's solutions enable the integration of real-time
sensor data with environmental data, combining road data and
computing engine to form a rich data and decision platform. Through
the combination of road data and edge computing, JueFX provides
high reliability and high safety autonomous driving solutions for
intelligent mobility. Utilizing Innoviz's solid-state LiDAR sensor
as its primary sensor, JueFX will install the InnovizOne onto
traffic poles to monitor the traffic in real time.
"We are excited to expand our technology collaboration with
JueFX, the current market leader in V2X-enabled cars, and integrate
our high-resolution, solid-state LiDAR technology into their
vehicle-to-everything solutions," said Omer Keilaf, CEO and
Co-Founder of Innoviz. "LiDAR is well-known for its ability to
enable safe automated and autonomous driving, however, attention is
now being given to how it can improve V2X solutions - the missing
piece of the autonomous driving puzzle. To create safer roads,
autonomous vehicles need to be able to identify, categorize and
react to objects in their path as well as anticipate blind spots
and what's to come."
Some examples of road conditions that may be improved by the
combination of high-resolution InnovizOne LiDAR data and JueFX's
V2X solution include:
- Sensors placed on roads can report in real time on obstacles
that are out of the line of sight of a vehicle. For example,
pedestrians or bicyclists behind buildings or vehicles that are
moving towards the road and are about to cross the
road.
- Sensors placed on road poles can report that a car or truck is
merging onto the road from a side road or beyond a curve in the
road, and alert other vehicles on the road to the emerging
vehicle.
- Traffic jams can be reported, and vehicles re-routed, in real
time.
- Temporary road construction barriers, and other obstacles such
as tires, pallets, overturned motorbikes, potholes and other bumps
in the road can be reported to vehicles traveling that road in real
time, allowing those vehicles time to slow down, adjust their
suspension, or re-route.
Andy Lee, CEO of JueFX,
said: "With the arrival of the era of intelligent transportation
and vehicle road coordination in China, fusion perception technology will
become one of the most important competitive advantages for
autonomous driving players. Our goal is to link industries through
our data platform and build a broad alliance to empower multi-scene
autonomous driving. InnovizOne was selected due to its
outstanding performance and high automotive-grade specifications,
as well as other rich features, which enable us to create the
world's best sensor fusion and empower our perception algorithm to
an unprecedented level. We look forward to working with Innoviz to
improve the efficiency and safety of our solutions."
The key customers for the roadside data and HD maps created by
JueFX's platform are vehicle manufacturers making highly-automated
and autonomous vehicles. In China,
this market is proliferating quickly, and shows no signs of slowing
down, as many automotive original equipment manufacturers (OEMs)
plan to release new cars and trucks with autonomous features.
According to Berg Insight, the number of vehicles with V2X
capabilities on the roads will grow to 35.1 million by 2025, mainly
represented by China due to its
regulatory mandates and policy support. Innoviz will benefit from
being involved in this lucrative market.
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
BMW's consumer vehicles. InnovizOne LiDAR has also been selected by
a leading European Tier1 automotive company for its shuttle
program. Innoviz is backed by top-tier strategic partners and
investors, including SoftBank Ventures Asia, Samsung, SK, Magna
International, Aptiv, Magma Venture Partners, and others. For
more information, visit www.innoviz.tech.
About JueFX
JueFX Technology is an innovative
technology company focusing on intelligent driving AI technology
and is the pioneer and leader of China's vehicle-road coordination technology.
Focusing on the digitalization of road scenes, the core technology
of JueFX is to integrate real-time sensor data with environmental,
experiential, and knowledge data, to form a high
precision-based platform for autonomous driving companies. Through
the combination of on-board solution and roadside edge computing,
JueFX enables leading autonomous driving solutions with high
reliability, high safety, and low power consumption, and hopes to
become the leading "Data Engine" of the intelligent mobility era.
For more information, visit www.juefx.com.
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Contact
Information
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Innoviz
Technologies
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Media@innoviz-tech.com
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Investor
Contact
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Maya
Lustig
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Gateway Investor
Relations
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Innoviz
Technologies
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Cody Slach or Matt
Glover
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+972 54 677
8100
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(949)
574-3860
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Investors@innoviz-tech.com
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Investors@innoviz-tech.com
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JueFX
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contact@juefx.com
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Investor
Contact
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Cedar Xue
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CVCAPITAL
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JueFX
Technology
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Alicia
Shen
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(86) 138 1164
9682
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(86) 186 1626
1763
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cecelia@juefx.com
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alicia.shen@cvcapital.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 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