- Innoviz is announcing its first Global Distributor Summit as it
ramps the production of InnovizOne to meet strong demand from
automotive & non-automotive markets.
- Innoviz is hosting a 3-day Global Distributor Summit in its new
Israeli headquarters from November
14-17 with partners and distributors from around the world,
including Europe, North America, Japan, Taiwan
and Korea already registered to attend. The summit will include
various strategic, product and sales leadership sessions to promote
the purchase and integration of InnovizOne into different customer
applications.
TEL
AVIV, Israel, Nov. 7, 2022
/PRNewswire/ -- Innoviz Technologies (NASDAQ: INVZ) (the
"Company" or "Innoviz"), a technology leader of high-performance,
solid-state LiDAR sensors and perception software, announced it
significantly expanded its production capability and will host a
Global Distributor Summit for its worldwide distributors that help
customers purchase and integrate InnovizOne LiDAR. The summit will
be at the Company's new headquarters in
Israel from November 14-17, 2022, and support InnovizOne
LiDAR sales for non-automotive markets beginning in Q4 2022 and
ramping up into 2023.
InnovizOne is Innoviz's first high-end automotive LiDAR and has
won the Company two design wins for series production which are
nearing their launch. InnovizOne is currently produced on two
parallel production lines in two different sites. The first is the
production line in Holly, MI,
which is owned by Magna and is serving the BMW program for the
upcoming 2023 BMW 7 Series. The second is a production line at a
contract manufacturer in Germany,
which serves to support the autonomous shuttle program with a
leading tier-1 automotive supplier and other customers. As part of
the Company's preparation for these two automotive program
launches, Innoviz went through rigorous stabilization, production
and processes improvements. These improvements were implemented on
all production lines used for InnovizOne and will serve to
accelerate the ramp up of newer products such as InnovizTwo and
Innoviz360.
Leveraging the scale, maturity and quality of the
product for the automotive market, InnovizOne can also be
used for non-automotive applications such as smart
junctions, security, infrastructure monitoring, cranes,
construction, automated guided vehicles (AGVs), heavy machinery,
agriculture, ports, boats, drones and the aftermarket. In addition,
InnovizOne can be used as a ground truth sensor for both the
automotive and non-automotive markets to validate other LiDARs and
sensors (e.g. cameras, radars). The production upgrades enable
Innoviz to increasingly compete in both the automotive and
non-automotive markets simultaneously for additional revenue
opportunities.
"I am excited to welcome our partners and global distributors to
our 3-day summit and look forward to working together to scale the
use of our automotive product InnovizOne, everywhere,"
said Omer Keilaf, co-Founder and CEO of
Innoviz. "With this increased throughput from the production
upgrades, we will be able to address the growing demand from the
non-automotive market with a shortened lead time while also
serving our automotive customers. Industrialization is
key to succeeding in the LiDAR space, and we're continuing to
automate and advance our production lines to stay ahead of the
competition."
Innoviz has built an ecosystem of more than 30 partners and
distributors across North
America, Asia-Pacific,
Europe, the Middle East and Africa. By bringing together its growing
ecosystem of global distributors for the 3-day summit, Innoviz is
looking to further promote LiDAR as a high-resolution and durable
product to address automotive and non-automotive use cases.
Innoviz is calling additional partners and distributors into its
ecosystem to accelerate the adoption of InnovizOne and its other
LiDAR solutions globally.
"We recognize that distributors bring great value for sales with
their regional and domain-specific knowledge," said Tali
Chen, chief business
officer of Innoviz. "We are excited to share our
vision for how InnovizOne can benefit the non-automotive market
with distributors and position us all for collaborative growth and
success through the Global Distributor Summit."
To consider becoming a distributor or partner for Innoviz's LiDAR
solutions and attend the Global Distributor Summit, please email
sales@innoviz-tech.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
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.
Join the discussion: Facebook, LinkedIn, YouTube,
Twitter
Media Contact
Media@innoviz-tech.com
Investor Contact (US)
Rob Moffatt
VP, Corporate Development & IR
Innoviz Technologies
+1 (203) 665-8644
Investors@innoviz-tech.com
Investor Contact (Israel)
Maya Lustig
Director, Investor Relations
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, 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 is not exhaustive. You should
carefully consider such risk 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.
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