TEL AVIV, Israel and HALLE,
Germany, Jan. 6, 2022 /PRNewswire/ -- Innoviz
Technologies (Nasdaq: INVZ), a leading provider of high
performance, solid-state LiDAR sensors and perception software,
today announced its collaboration with Twinner, a German-based
vehicle scanner provider for remarketing and inspection purposes
within the automotive industry, to enhance the capabilities of its
sophisticated car scanner. Twinner is testing InnovizOne LiDAR with
its Digital Twinn® platform to provide a high-quality
360-degree view of the vehicle in order to better assess, inspect
and evaluate a vehicle's condition.
![The Digital Twinn® allows cars to be inspected, bought and sold online anytime and anywhere. The Digital Twinn® allows cars to be inspected, bought and sold online anytime and anywhere.](https://mma.prnewswire.com/media/1721120/Twinner_Space_car_inside.jpg)
Twinner's Digital Twinn® solution utilizes x-ray-like automotive
scanning technology to generate a high-quality digital twin
model of the vehicle – including its body, roof, underbody,
interior and more – to identify defects that would otherwise go
unnoticed by the human eye. The Digital Twinn can spot, for
example, a scratch on the rim of a tire or a tiny dent on a bumper
as well as identify whether a vehicle has previously been repainted
so that auto manufacturers, fleet owners, service providers, car
dealers and consumers can make better-informed vehicle investment
decisions. Twinner has partnered with several large auto
manufacturers, sellers, and logistics companies across Europe and Asia.
The integration of Innoviz's automotive-grade, solid-state
InnovizOne LiDAR into Twinner's existing sensor suite, which
includes multispectral sensors, would enable new features by
providing 3D information about the vehicle. Furthermore, Twinner
will evaluate Innoviz's rich point cloud data and APIs to support
its own perception software. The ability to disclose a vehicle's
condition offers value across the automotive ecosystem by
providing transparency to car makers, fleet operators, car dealers,
and service providers competing in a newly digitized space.
"At Innoviz, we're all about raising the bar on transparency,"
said Omer Keilaf, CEO and co-founder of Innoviz. "The team at
Twinner is driven by a similar philosophy and we're excited to
collaborate with them to integrate our high-resolution, solid-state
LiDAR technology with their Digital Twinn solution. The inclusion
of InnovizOne will further enhance Digital Twinn's value
proposition as one of the most sophisticated and accurate scanner
for the automotive industry, integrating both remarketing and
inspection services."
"Creating transparency and building trust in the automotive
space is at the core of our efforts. We are always looking for the
most innovative technology partners that share a common vision,"
said Twinner CEO Silvan Cloud Rath.
"Innoviz is a natural partner in our effort to create greater trust
in digital transactions."
One of the leading online used car retailers, Carvana, sold
approximately 244,000 vehicles online in 2020 (one every 2.2
minutes on average – up 37 percent from the previous year). As
digital technologies change the way consumers buy cars, auto makers
and car dealers are making significant investments in technologies
capable of informing online purchases. The future of a completely
digital car-buying experience is around the corner and Innoviz will
benefit from being involved in this rapidly growing market.
About Twinner
Founded in 2017, Twinner® is on a mission to revolutionize the
automotive industry. Twinner®'s technology makes it possible
to create digital images of vehicles so that they no longer need to
be viewed in person at specific times in specific locations. In
this way, the company brings transparency, security and trust to
one of the largest sales markets in the world. Twinner® obtains an
incomparably large data set from each vehicle, based on which a
Digital Twinn®, i.e., a "digital twin", is created, with which the
customer can virtually see more than if he were standing in front
of the vehicle themself. The start-up company from Halle has a team
of more than 150 experts, all of whom have extensive experience in
the automotive and start-up sectors as well as innovation sectors.
For more information, visit twinner.com/.
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 elected
both by an internationally-recognized premium car brand 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 www.innoviz.tech.
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Contact Information
media@innoviz-tech.com
Investor Contact
Maya
Lustig
Innoviz Technologies
+972 54 677 8100
Investors@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.
![Innoviz Technologies Innoviz Technologies](https://mma.prnewswire.com/media/1721121/Innoviz_Technologies.jpg)
![Twinner Logo Twinner Logo](https://mma.prnewswire.com/media/1721119/Twinner.jpg)
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SOURCE Innoviz Technologies