Israel-based Innoviz Technologies, a leading provider of high-performance LiDAR sensors and perception software has announced that it has been selected by one of the leading Asia-based automotive OEMs to serve as its direct LiDAR supplier for series production passenger vehicles. Innoviz will supply its InnovizTwo LiDAR sensor to position vehicles to upgrade to full L3 automation.
The partnership is expected to generate revenues during fiscal year 2024.
Omer Keilaf, CEO and Co-Founder, Innoviz Technologies said, “With this selection, we are continuing our momentum and further demonstrating Innoviz’s capabilities as a Tier 1 supplier to the world’s leading car makers and expanding to additional geographies.”
“We are proud of the significant progress we have made, particularly in recent months, and well positioned to further strengthen and solidify our position as a leading supplier for autonomous vehicles. We look forward to supporting this new program with a fully featured solution for all levels of autonomous driving, paving the path to full L3 automation,” added Keilaf.
The selection represents Innoviz’s fourth major design win and second nomination for series production of passenger vehicles as a direct supplier, and follows its recently announced partnership with Volkswagen, through which Innoviz will work directly with Cariad SE, Volkswagen’s automotive software company, to integrate its technology into upcoming Volkswagen vehicles.
The Israeli company’s LiDAR and perception software is said to ‘see’ better than a human driver and reduce the possibility of error, meeting the automotive industry’s strictest expectations for performance and safety.