#Israel #Tel Aviv #Autonomous Vehicles #Lidar #Innoviz Technologies

Innoviz Technologies Secures Top Recognition in Automotive Development

Innoviz Technologies Ltd. (NASDAQ: INVZ), a frontrunner in delivering high-performance automotive-grade LiDAR sensors, recently announced a momentous milestone in the automotive landscape. The company has been recognized as one of the top five suppliers chosen to collaborate on a Level 3 (L3) global production vehicle platform with a premier passenger automotive manufacturer, underlining its pivotal role in the industry's shift towards autonomous driving.

The collaboration arises from a Statement of Development Work (SoDW) agreement signed between Innoviz and a leading car manufacturer, emphasizing the growing demand for advanced technologies in the automotive sector. As part of this expansive agreement, Innoviz will innovate and enhance its cutting-edge InnovizTwo LiDAR units, ensuring seamless integration into the automotive tradition of the chosen manufacturer. The partnership aims to align with the anticipated start of production (SOP) for the L3 automated series, set for 2027.

Key Developments and Strategic Goals

Beginning in the second quarter of 2025, Innoviz is entrusted with refining hardware and software adaptations needed for its LiDAR technology, which will vitalize the OEM's vehicle systems. As the project progresses, hundreds of InnovizTwo LiDAR units are to be delivered in phases, allowing the automotive giant and Innoviz to meet key project milestones effectively. This strategic collaboration supports the development of the next-generation 'eyes-off' driving system, designed to enhance safety and efficiency in autonomous vehicle operation.

Omer Keilaf, the CEO and Co-Founder of Innoviz Technologies, expressed excitement about this upward trajectory in the automotive industry. He noted, "This is an exhilarating leap as mainstream automobile manufacturers embrace enhanced automation and autonomy in their fleets. Partnering with one of the most respected brands globally confirms the increasing demand for LiDAR technologies designed to satisfy the strictest safety and technical standards in our industry. We are committed to breaking down any barriers to the adoption of autonomous vehicles by paving the way for safer and smarter driving experiences."

Innoviz's Position in the Market

This achievement strengthens Innoviz's reputation as a preferred technology ally for global automotive original equipment manufacturers seeking to enhance their assisted and autonomous driving capabilities. InnovizTwo, the company's flagship LiDAR platform, is notable for its exceptional resolution, range, and reliability, making it a favorable option for large-scale consumer vehicle applications.

Operating across continents including North America, Europe, and Asia, Innoviz Technologies has been selected by leading automotive brands, contributing significant advancements in consumer vehicles and broader industrial applications. By showcasing how their sensors significantly outperform human perception, Innoviz aims to minimize the likelihood of vehicular errors, aligning perfectly with the rigorous performance and safety expectations of the automotive industry.

Looking to the Future

Innoviz's forward-looking approach includes making significant strides in practical autonomous vehicle technologies, while keeping a keen eye on emerging market opportunities. As the demand for autonomous solutions grows, Innoviz's collaboration with a major automotive player marks a pivotal shift towards widespread adoption, and a commitment to elevating safety standards within the transportation sector. Ultimately, Innoviz Technologies is dedicated to realizing a prosperous roadmap that leads to safer and more intelligent vehicles on the roads.

This collaboration illustrates Innoviz's commitment to being at the forefront of autonomous driving technology, set to redefine the future of automotive safety and efficiency. With projects like these, Innoviz Technologies is solidifying its influence in advancing the automotive landscape towards a more automated future.