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Innoviz Technologies Ltd., a leading provider of high-performance LiDAR sensors and perception software, has been chosen by one of the largest vehicle manufacturers in the world to become its direct LiDAR supplier across multiple brands. The selection, which is Innoviz’s third major design win, will increase Innoviz’s forward-looking order book by $4 billion to $6.6 billion.

 The company will elaborate further on the news on its coming quarterly earnings call on May 11 at 9:00a.m. ET

Operating across the U.S., Europe, and Asia, Innoviz has been selected by internationally-recognised premium car brands for use in consumer vehicles as well as by other commercial and industrial leaders for a wide range of use cases. 

Innoviz CEO and Co-Founder, Omer Keilaf, says: “We are proud to deliver our outstanding InnovizTwo LiDAR and perception software as the direct supplier to support this new series production program,”. Being selected by a large-scale multi-brand global vehicle maker is a significant catalyst for Innoviz and we expect this will affect the entire industry which has been waiting for a decision of this magnitude. We are expecting the scope of this deal to grow even further as additional car brands within the group adopt our platform. In addition, we anticipate more car makers to follow this decision in their autonomous vehicle programs.”

Innoviz is a leader in LiDAR technology, working towards a future with safe autonomous vehicles on the world’s roads.

Innoviz says its 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. 

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