- Innoviz and Ascendtek partner to grow LiDAR sales for
automotive and non-automotive applications in Greater China region.
- Innoviz adds Ascendtek to its rapidly expanding
global ecosystem of 30+ partners and distributors to accelerate
high-performance LiDAR adoption worldwide.
TEL
AVIV, Israel and NEW TAIPEI
CITY, Taiwan, April 10,
2023 /PRNewswire/ -- Innoviz Technologies Ltd.
(Nasdaq: INVZ) (the "Company" or "Innoviz"), a technology leader of
high-performance, automotive-grade LiDAR sensors and perception
software, today announced that it has signed a distribution
agreement with Ascendtek Electronics Inc. ("Ascendtek"), an
integrated provider of advanced electronic systems, to drive sales
of the company's LiDAR solutions throughout the Greater China region.
Pursuant to this agreement, Ascendtek intends to promote
Innoviz's LiDAR to its customers, aiming to accelerate the adoption
of the Company's LiDAR solutions globally, by strengthening
Innoviz's market presence across the Asia-Pacific region. Innoviz's
high-performance LiDAR solutions offer mature, reliable and
ready-to-ship products for the automotive and non-automotive
industries.
"We are pleased to partner with Ascendtek to distribute our
LiDAR solutions. Innoviz continues to disrupt and lead the LiDAR
space, and working with our distributor partners to help support
our global growth is extremely important to us," said Tali Chen,
Chief Business Officer at Innoviz. "We expect that Ascendtek's
strong Greater China region
customer base and reach across various markets and industries,
paired with its deep technical understanding of cutting-edge
semiconductor-based products, will help Innoviz meet the growing
demand for high-performance LiDAR solutions throughout the
region."
"Ascendtek is one of the top distributors of advanced
electronics to the Greater China
automotive industry," said Philip
Hsu, Chairman of Ascendtek Electronics Inc. "We proudly
offer our clients the most cutting-edge technologies, and our
partnership with Innoviz is expected to help us provide more
complete and industry-leading solutions for autonomous driving
systems. Together with Innoviz, we look forward to developing more
opportunities in both automotive and non-automotive sectors across
the Greater China region."
The Asia-Pacific LiDAR market is expected to grow at a
compounded annual growth rate of approximately 32.39% over the next
3 years. For more information on Innoviz's worldwide distributors
and global product availability, visit
www.innoviz.tech/distributors.
About Ascendtek Electronics Inc.
Ascendtek Electronics
Inc. was established in 2004 and offers its professional and
innovative services as an integrated systems distributor. Believing
that technological innovation drives business and industrial
transformation, Ascendtek represents many product suppliers across
Greater China. Its product and
solution portfolio includes components and modules for 2G-5G
communications stations; advanced I.C. products for automotive,
data centers, and edge computing industries; open code structure
for OCP FPGA applications, including GPIO expansion and power
sequence control for high performance server and network management
applications; state-of-the-art voice and image processing
technology for wearable devices, automotive electronics, artificial
intelligence, and other industries; innovative sensor modules and
components for preventive medicine, remote treatment, and home
medical care. For more information, visit
http://www.ascend-tek.com
Media Contact for Ascendtek
Sean Chen
VP of Operation / General Manager Office
Ascendtek Electronics Inc
+886 2 2698-8696
sean.chen@ascend-tek.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 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 9, 2023
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.
Logo -
https://mma.prnewswire.com/media/1496323/Innoviz_Technologies_Logo.jpg
View original
content:https://www.prnewswire.com/news-releases/innoviz-technologies-and-ascendtek-sign-distribution-agreement-to-increase-lidar-sales-throughout-greater-china-region-301793525.html
SOURCE Innoviz Technologies