Innoviz LiDAR Selected for JueFX's Vehicle-to-Everything (V2X) Solution to Improve Road Safety and Traffic Alerts for Autonomous Vehicles in China
Innoviz Technologies (Nasdaq: INVZ) announced a collaboration with JueFX, focusing on enhancing autonomous driving safety through the installation of InnovizOne LiDAR sensors on traffic infrastructure. The partnership aims to provide real-time traffic monitoring and data sharing to improve vehicle-to-everything (V2X) communications. As the V2X market is expected to grow significantly in China, Innoviz's participation positions it advantageously in a rapidly expanding sector. This initiative could enhance road safety and traffic efficiency, leveraging Innoviz's high-performance LiDAR technology.
- Collaboration with JueFX positions Innoviz in the rapidly growing V2X market in China.
- InnovizOne LiDAR selected for real-time traffic monitoring improves road safety and efficiency.
- Partnership enhances Innoviz's competitive edge in the autonomous vehicle technology space.
- None.
TEL AVIV, Israel and BEIJING, Nov. 3, 2021 /PRNewswire/ -- Innoviz Technologies (Nasdaq: INVZ), a leading provider of high-performance, solid-state LiDAR sensors and perception software, today announced its collaboration with JueFX, an innovative AI-driven technology company focusing on developing LBS data engine and offering on-board applications for autonomous driving. JueFX intends to install InnovizOne LiDAR on traffic poles and bridges to monitor traffic activity in real time. JueFX's V2X technology will then share the data with autonomous vehicles on roads for improved road safety and traffic efficiency.
JueFX's solutions are focused on the digitalization of road scenes. The company's solutions enable the integration of real-time sensor data with environmental data, combining road data and computing engine to form a rich data and decision platform. Through the combination of road data and edge computing, JueFX provides high reliability and high safety autonomous driving solutions for intelligent mobility. Utilizing Innoviz's solid-state LiDAR sensor as its primary sensor, JueFX will install the InnovizOne onto traffic poles to monitor the traffic in real time.
"We are excited to expand our technology collaboration with JueFX, the current market leader in V2X-enabled cars, and integrate our high-resolution, solid-state LiDAR technology into their vehicle-to-everything solutions," said Omer Keilaf, CEO and Co-Founder of Innoviz. "LiDAR is well-known for its ability to enable safe automated and autonomous driving, however, attention is now being given to how it can improve V2X solutions - the missing piece of the autonomous driving puzzle. To create safer roads, autonomous vehicles need to be able to identify, categorize and react to objects in their path as well as anticipate blind spots and what's to come."
Some examples of road conditions that may be improved by the combination of high-resolution InnovizOne LiDAR data and JueFX's V2X solution include:
- Sensors placed on roads can report in real time on obstacles that are out of the line of sight of a vehicle. For example, pedestrians or bicyclists behind buildings or vehicles that are moving towards the road and are about to cross the road.
- Sensors placed on road poles can report that a car or truck is merging onto the road from a side road or beyond a curve in the road, and alert other vehicles on the road to the emerging vehicle.
- Traffic jams can be reported, and vehicles re-routed, in real time.
- Temporary road construction barriers, and other obstacles such as tires, pallets, overturned motorbikes, potholes and other bumps in the road can be reported to vehicles traveling that road in real time, allowing those vehicles time to slow down, adjust their suspension, or re-route.
Andy Lee, CEO of JueFX, said: "With the arrival of the era of intelligent transportation and vehicle road coordination in China, fusion perception technology will become one of the most important competitive advantages for autonomous driving players. Our goal is to link industries through our data platform and build a broad alliance to empower multi-scene autonomous driving. InnovizOne was selected due to its outstanding performance and high automotive-grade specifications, as well as other rich features, which enable us to create the world's best sensor fusion and empower our perception algorithm to an unprecedented level. We look forward to working with Innoviz to improve the efficiency and safety of our solutions."
The key customers for the roadside data and HD maps created by JueFX's platform are vehicle manufacturers making highly-automated and autonomous vehicles. In China, this market is proliferating quickly, and shows no signs of slowing down, as many automotive original equipment manufacturers (OEMs) plan to release new cars and trucks with autonomous features. According to Berg Insight, the number of vehicles with V2X capabilities on the roads will grow to 35.1 million by 2025, mainly represented by China due to its regulatory mandates and policy support. Innoviz will benefit from being involved in this lucrative market.
About Innoviz Technologies
Innoviz is a leading provider of technology that will put autonomous vehicles on roads. Innoviz's LiDAR technology can "see" better than a human driver and meets the automotive industry's strict expectations for performance, safety, and price. Selected by BMW for its fully autonomous car program, Innoviz's technology will be deployed in BMW's consumer vehicles. InnovizOne LiDAR has also been selected by a leading European Tier1 automotive company for its shuttle program. Innoviz is backed by top-tier strategic partners and investors, including SoftBank Ventures Asia, Samsung, SK, Magna International, Aptiv, Magma Venture Partners, and others. For more information, visit www.innoviz.tech.
About JueFX
JueFX Technology is an innovative technology company focusing on intelligent driving AI technology and is the pioneer and leader of China's vehicle-road coordination technology. Focusing on the digitalization of road scenes, the core technology of JueFX is to integrate real-time sensor data with environmental, experiential, and knowledge data, to form a high precision-based platform for autonomous driving companies. Through the combination of on-board solution and roadside edge computing, JueFX enables leading autonomous driving solutions with high reliability, high safety, and low power consumption, and hopes to become the leading "Data Engine" of the intelligent mobility era. For more information, visit www.juefx.com.
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Contact Information | |
Innoviz Technologies | |
Investor Contact | |
Maya Lustig | Gateway Investor Relations |
Innoviz Technologies | Cody Slach or Matt Glover |
+972 54 677 8100 | (949) 574-3860 |
JueFX | |
Investor Contact | |
Cedar Xue | CVCAPITAL |
JueFX Technology | Alicia Shen |
(86) 138 1164 9682 | (86) 186 1626 1763 |
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 identify and realize additional opportunities, and potential changes and developments in the highly competitive LiDAR technology and related industries. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in Innoviz's annual report on Form 20-F filed with the SEC on April 21, 2021 and 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.
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