Innoviz ($INVZ) to Develop New LiDAR Platform for Next Generation of BMW Automated Vehicles

Green Stock News

Innoviz Technologies (NASDAQ: INVZ), a leading producer of lidar sensors, and BMW are extending their collaboration by starting a B-sample development phase on a new generation of LiDAR, which will be based on Innoviz's second-generation InnovizTwo LiDAR sensor and align with BMW's requirements.

This collaboration follows their successful work on LiDAR-enabled automated technology for the BMW 7 Series. The project aims to expand advanced automated capabilities across BMW's lineup, including the development of a LiDAR-based Minimal Risk Maneuver (MRM) system. The company is also focusing on enhancing its software suite, utilizing artificial intelligence and advanced machine learning to accelerate development and upgrades.

Omer Keilaf, Innoviz Co-Founder and CEO stated: “BMW is at the forefront of advanced driver-assistance systems technology, and we could not be more thrilled to have an opportunity to become an integral part of the next stage of its journey."

Nicolai Martin, Senior Vice President of Driving Experience at BMW added: "LiDAR is one of the critical technologies underpinning Level 3 or even higher automated functions.”

Innoviz is a global leader in LiDAR technology, serving as a Tier 1 supplier to the world's leading automotive manufacturers and working towards a future with safe autonomous vehicles on the world's roads.

Shares of Innoviz Technologies trade on the NASDAQ under the ticker symbol INVZ. For more information visit www.greenstocknews.com