Innoviz Technologies ($INVZ) Selected as LiDAR Supplier for Segment of Automated Vehicles within Volkswagen Brands

Green Stock News

Innoviz Technologies has announced that it will provide next-generation LiDAR sensors and perception software to CARIAD, a wholly owned subsidiary of Volkswagen Group. The automotive software company is focused on increasing innovation speed at the Volkswagen Group by making brands such as Volkswagen, Audi, Porsche and others more sustainable, safe and seamlessly-connected.

The design selection represents the third major automaker for Innoviz and further increases its forward-looking order book to $6.6 billion.

Innoviz CEO and Co-Founder Omer Keilaf commented: "We are thrilled to work with the CARIAD team and be a supplier of LiDAR sensors and perception software to support safe mobility for vehicles launching from the middle of the decade. CARIAD is a leading player in the transformation of the whole automotive space. We are proud to be part of their mission."

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.

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