Innoviz Technologies and Major OEM Collaborate on New Short-Range LiDAR for L4 Autonomous Vehicles
Innoviz Technologies, a leading supplier of automotive-grade LiDAR sensors, has announced a collaboration with a major OEM to integrate their new short-range LiDAR into the OEM's Level 4 autonomous driving platform. This new addition, which joins the InnovizTwo product line, offers high-resolution detection with a 90-degree vertical field of view. It is designed for light commercial vehicles, shuttles, robotaxis, and trucks. This collaboration follows a six-month development phase and is expected to lead to a series production nomination soon. CEO Omer Keilaf remarked on the significance of this partnership for advancing autonomous vehicle technologies globally.
- Innoviz Technologies' collaboration with a major OEM to integrate short-range LiDAR into L4 autonomous platforms.
- The new short-range LiDAR offers high-resolution detection and a 90-degree vertical field of view.
- Expected series production nomination in the coming months.
- The development phase aligns with the OEM's stringent RFQ requirements, indicating high standards and quality.
- None.
Insights
The collaboration between Innoviz Technologies and a major automotive OEM to integrate short-range LiDAR into Level 4 (L4) autonomous vehicles signifies a step forward in autonomous vehicle (AV) technology. LiDAR (Light Detection and Ranging) is critical for AVs as it helps in creating a 3D map of the surroundings, essential for navigation and obstacle detection.
Innoviz’s addition of short-range LiDAR complements its existing long-range and slim versions, offering a comprehensive suite for various vehicle types like light commercial vehicles, shuttles and robotaxis. This diversification can broaden its market reach and cater to different OEM needs. Integrating multiple sensors per vehicle enhances redundancy and safety, important for L4 autonomy where the vehicle can handle all driving tasks under certain conditions.
For retail investors, this partnership signals potential growth as Innoviz is aligning with a global OEM. However, they should consider that series production and commercial terms are still pending, posing some uncertainty. Short-term gains might be limited, but long-term the outlook appears promising as the AV market evolves.
From a technology standpoint, Innoviz's new short-range LiDAR based on the InnovizTwo architecture indicates a strategy to maximize use of existing platforms to reduce development time and costs. High-resolution detection and a 90-degree vertical field of view are impressive features likely to meet OEMs' stringent requirements. This can significantly enhance the vehicle’s ability to detect and navigate complex environments at short distances, a critical function for urban driving and maneuvering.
The potential for series production nomination underscores the product’s industrial maturity. For tech-savvy investors, this is a positive sign of Innoviz’s engineering capabilities and market readiness. Yet, they should be mindful of the competitive landscape, where other companies are also advancing their LiDAR technologies. Staying updated on comparative advancements in the industry is crucial.
The market dynamics for autonomous vehicles are rapidly evolving and Innoviz's collaboration with a major OEM positions it favorably within this space. AVs are expected to transform various sectors, from logistics to public transportation. Innoviz's focus on short-range LiDAR for light commercial vehicles, shuttles and trucks is strategic, targeting high-growth segments.
However, the market for L4 autonomy is still nascent. The immediate financial impact of this collaboration may not be substantial, but it lays the groundwork for future revenue streams as AV adoption accelerates. Retail investors should view this as a long-term play, with initial returns likely to be modest but with significant upside potential as the technology matures and becomes more widespread.
The agreement between the two companies adds short-range LiDARs into the OEM's L4 Autonomous Driving Platform
Innoviz's Short-Range LiDAR joins the InnovizTwo product platform that includes InnovizTwo Long-Range and InnovizTwo Slim. With high-resolution detection and over 90-degree vertical field of view, the new short-range design is based on InnovizTwo Long-Range architecture. It leverages the product's industrialization maturity and is designed to meet the requirements for light commercial vehicles, shuttles, robotaxis, and trucks. This new development phase was meticulously designed over the past six months to align with the OEM's stringent RFQ (Request for Quotation) requirements. With the OEM planning to integrate multiple short-range LiDARs for each of its L4 autonomous vehicles, the partnership is well positioned to advance a safe and powerful autonomous driving experience.
"This is an exciting moment for Innoviz as we collaborate with a major global OEM on a new product," said Omer Keilaf, CEO and Co-Founder of Innoviz Technologies. "As the L4 market is starting to ramp-up, we are happy to be able to provide a complete set of solutions to meet the needs of OEMs worldwide and support the acceleration of AV adoption across all sectors."
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
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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, future series production nominations, 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
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SOURCE Innoviz Technologies
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