The software company and Tier 1 LiDAR supplier are also in
discussions about a possible extension of their partnership
TEL
AVIV, Israel, May 2, 2023
/PRNewswire/ -- Innoviz Technologies Ltd. (NASDAQ: INVZ) (the
"Company" or "Innoviz"), a Tier-1 direct supplier of
high-performance, automotive grade LiDAR sensors and perception
software, today announced that it is on-track to deliver
LiDAR-technology for CARIAD's future advanced driver assistance
systems (ADAS) and automated driving functions.
Since naming Innoviz as its direct LiDAR supplier, Innoviz and
CARIAD have been working closely to understand unique engineering
needs and to optimize processes that will support the use of
LiDAR-enabled ADAS and automated driving systems. CARIAD and
Innoviz are evaluating concepts to accelerate the integration of
LiDAR systems, aiming to improve time to market and lower overall
system costs.
"We are thrilled to further discuss possibilities of expanding
our relationship with CARIAD and accelerating the adoption of
LiDAR," said Innoviz CEO and Co-Founder, Omer Keilaf, "We are proud to serve CARIAD
as a Tier-1 supplier and to collaborate as a like-minded tech
leader in the space".
"CARIAD is working on the automated driving of the future as one
important pillar in our strategy. For future automated driving
functions, we selected Innoviz as our LiDAR partner not only
because of their automotive experience and technological expertise,
but also for the flexibility and creativity that their team brings
to the table," said Anton Stippler, Head of LIDAR and Camera
development, at CARIAD.
The companies are actively engaged in advanced testing and
on-road validation and are on solid footing to deliver this
milestone.
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.
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Media Contact
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 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 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 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.
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SOURCE Innoviz Technologies