- LOXO intends to use InnovizOne LiDAR sensors to enable
autonomy for its zero-emission autonomous delivery
vehicles.
- LOXO will present its autonomous and zero-emission delivery
vehicle with InnovizOne LiDAR at the Consumer Electronics Show
(CES) on January 7, 2023,
3:30pm, at Innoviz's booth
#6553.
TEL
AVIV, Israel and BERN,
Switzerland, Jan. 3, 2023
/PRNewswire/ -- Innoviz Technologies (NASDAQ: INVZ) (the "Company"
or "Innoviz"), a technology leader of high-performance, solid-state
LiDAR sensors and perception software, announced today that
Switzerland-based LOXO, a provider
of zero-emission autonomous vehicles for last-mile delivery
services, is planning to use InnovizOne LiDAR to enable autonomy
for its delivery vehicles, which allow retailers to transport goods
from local distribution hubs to end consumers more efficiently and
with fewer emissions.
Innoviz's planned partnership with LOXO for autonomous delivery
services in Switzerland
demonstrates the company's continued global expansion. Following
the initial evaluation period, LOXO plans to purchase more
InnovizOne LiDAR units to support its delivery fleet, with
pre-sales for the vehicle beginning as soon as 2023.
To view LOXO's zero-emission delivery vehicles equipped with
InnovizOne LiDAR, please click here.
"Tested using to the most rigorous automotive standards, our
InnovizOne LiDAR sensor is well-equipped to tackle challenging
urban environments and make the delivery of goods more convenient,
affordable, and safe," said Omer Keilaf, Co-founder and CEO at
Innoviz. "In collaboration with LOXO, we look forward to enabling
this critical service for users, especially during the busiest
delivery days of the year, and revolutionizing the local transport
of goods across cities worldwide."
InnovizOne is a high-performance solid-state LiDAR sensor
specifically designed for automakers and robotaxi, shuttle and
delivery companies requiring an automotive-grade, mass-producible
solution to achieve autonomy. It is purpose-built to be rugged,
affordable, reliable, power-efficient, lightweight, and to
seamlessly integrate into unique Level 3 to Level5 autonomous
vehicle designs ensuring the safety of passengers and pedestrians
alike. LOXO vehicles equipped with InnovizOne will be designed to
meet the demand from the autonomous last-mile delivery market,
which is projected to grow from USD 57.67
billion in 2021 to USD 68.95
billion by 2028.
"At LOXO, we're working at the cutting-edge of autonomous
delivery vehicles. As we look forward to deploying our solution on
public road in 2023, we have rigorously selected Innoviz' solution
to equip our vehicles with the industry-leading LiDAR to ensure the
highest levels of safety and operational efficiency," said
Amin Amini, Co-Founder & CEO of
LOXO. "InnovizOne is expertly engineered to be compact and
seamlessly integrate into our electric vehicle design. It's
accurate and high-performing, ensuring our vehicles navigate
complex and obstacle-ridden urban road networks safely."
LOXO will present its autonomous and zero-emission delivery
vehicle use-case with InnovizOne LiDAR at the Consumer Electronics
Show (CES) on January 7, 2023,
3:30pm, at Innoviz's booth #6553.
About LOXO
LOXO is providing an intelligent fully
automated goods transport system that solves the increasing
problems of the last-mile-delivery on the provider's and customers'
side: Our technology is enhancing delivery efficiency, flexibility,
safety and decreasing the carbon footprint for the benefit of all.
LOXO alpha, the first version of LOXO's autonomous vehicle will hit
Swiss roads for the first time in early 2023.
We at LOXO, believe that we have the solution for all types and
sizes of retailers across the e-food, postal and logistic sectors.
For more information, visit: https://www.loxo.ch/en/
Media Contact - LOXO
Lara
Amini, Co-Founder, Business & Marketing
Lara@loxo.ch
+41 79 328 30 20
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 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 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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SOURCE Innoviz Technologies