Innoviz Collaborating with Ecomotion Community to Host the Annual Assembly

Rhea-AI Summary

Innoviz Technologies (Nasdaq: INVZ) will host the EcoMotion Assembly 2024 at its global headquarters in Rosh Ha'ayin, Israel on June 4th. This event, themed 'Mobility innovation in times of disruption,' will feature international speakers and attendees from leading OEMs, consulting firms, business accelerators, and technology hubs. Omer Keilaf, CEO of Innoviz, will deliver a keynote on global collaboration in the mobility industry. The EcoMotion Community, with over 16,000 members and 750 startups, focuses on advancing smart mobility through technology and collaboration. This year's assembly comes as brands like Mercedes and BMW advance autonomous driving technologies, with Innoviz playing a significant role in BMW's Level 3 autonomy. Innoviz is also collaborating with Volkswagen on autonomous capabilities for the ID. Buzz light commercial vehicle. The event aims to showcase technological advancements and address global mobility ecosystem challenges.

Positive

• Innoviz is hosting a high-profile industry event, boosting its visibility.
• The event aligns with advances in autonomous driving technologies, a growing market.
• Innoviz is perceived as a key contributor to BMW's Level 3 autonomy achievement.
• Collaborations with major brands like Mercedes and Volkswagen enhance Innoviz's credibility.
• The event promotes networking and potential partnerships, beneficial for long-term growth.

Negative

• The press release lacks specific financial performance data, making it hard to assess immediate financial impact.
• No new product launches or technological breakthroughs announced, limiting short-term investor excitement.

EcoMotion Assembly will highlight some of the best and brightest mobility tech companies, with international speakers from the global industry

TEL AVIV, Israel, May 28, 2024 /PRNewswire/ -- Innoviz Technologies Ltd. (Nasdaq: INVZ) (the "Company" or "Innoviz"), a leading Tier-1 direct supplier of high-performance, automotive grade LiDAR sensors and perception software, today announced it will be hosting EcoMotion Assembly 2024 at its global headquarters in Rosh Ha'ayin on Tuesday, June 4^th 2024. This year's event on "Mobility innovation in times of disruption" is attended by visitors from across the global industry, including leading OEMs and international consulting companies as well as business accelerators and technology hubs. Omer Keilaf, Innoviz's Co-Founder and CEO will open the event's agenda with a keynote on global collaboration and partnerships across the mobility industry.

With over 16,000 members and 750 startups, EcoMotion is a dynamic and growing global community in the smart mobility sector which creates a platform for startups to connect and collaborate with other community members including global industry, investors, and public sector, while highlighting the latest technology innovations in mobility. EcoMotion's mission is to advance the smart mobility sector through technology by supporting startups to scale and addressing the global mobility ecosystem challenges.

Innoviz hosting the community's annual assembly comes at a promising time where leading brands including Mercedes and BMW have introduced advanced stages of autonomous driving for consumers across the United States and Europe. We believe Innoviz had a significant part in BMW achieving Level 3 autonomy this year with its L3 Personal Pilot function.The company is also working with Volkswagen to forward autonomous capabilities for the light commercial vehicle, the ID. Buzz.  

"It's been an exciting year for the automotive industry and especially for the autonomous vehicle sector, with many automakers reaching advanced levels of autonomy," said Omer Keilaf, CEO and co-founder of Innoviz. "Hosting EcoMotion Assembly 2024 underscores our commitment to fostering collaboration that drives innovation and sets the stage for the next generation of mobility solutions. It's an honor to bring together industry leaders and visionaries to explore new frontiers in automotive technology."

"Especially this year, I am grateful for Innoviz's invaluable partnership in hosting the EcoMotion Community," said Jennifer Schwarz, Executive Director of EcoMotion. "It is incredible to collaborate with Innoviz to make possible this pivotal annual ecosystem. EcoMotion Assembly is an opportunity to highlight to the world the technological excellence coming out of Israel today and the solutions which address the critical challenges of the global mobility ecosystem." This event will showcase cutting-edge advancements and host discussions on the disruptive potential of smart mobility technology."

About Innoviz

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. 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. For more information, visit innoviz.tech.com.

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Forward Looking Statements 

This announcement contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services offered by Innoviz, the anticipated technological capability of Innoviz's products, the markets in which Innoviz operates and Innoviz's projected future results. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this announcement including but not limited to, the ability to implement business plans, forecasts, and other expectations, the ability to convert design wins into definitive orders and the magnitude of such orders, the ability to identify and realize additional opportunities, potential changes and developments in the highly competitive LiDAR technology and related industries, and our expectations regarding the impact of the evolving conflict in Israel to our ongoing operations. The foregoing list is not exhaustive. You should carefully consider such risk and the other risks and uncertainties described in Innoviz's annual report on Form 20-F for the year ended December 31, 2023, filed with the U.S. Securities and Exchange Commission ("SEC") on March 12, 2024, and in other documents filed by Innoviz from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Innoviz assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Innoviz gives no assurance that it will achieve its expectations. 

Media Contact
Media@innoviz-tech.com

Investor Contact
Investors@innoviz-tech.com

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SOURCE Innoviz Technologies

FAQ

What is the date and location of the EcoMotion Assembly 2024 hosted by Innoviz?

The EcoMotion Assembly 2024 will take place on June 4th at Innoviz's global headquarters in Rosh Ha'ayin, Israel.

What is the theme of the EcoMotion Assembly 2024?

The theme of the EcoMotion Assembly 2024 is 'Mobility innovation in times of disruption.'

Which companies are collaborating with Innoviz on autonomous driving technologies?

Innoviz is collaborating with BMW and Volkswagen on autonomous driving technologies.

What is the significance of Innoviz's role in BMW's Level 3 autonomy?

Innoviz played a significant part in BMW achieving Level 3 autonomy with its L3 Personal Pilot function.

How many members and startups are part of the EcoMotion Community?

The EcoMotion Community consists of over 16,000 members and 750 startups.