Mobileye to Use Innoviz LiDARs for its Mobileye Drive™ AV Platform

Rhea-AI Summary

Mobileye (MBLY) and Innoviz Technologies (INVZ) have announced a partnership where Mobileye will integrate Innoviz LiDARs into its Mobileye Drive™ autonomous vehicle platform. The platform has been adopted by major vehicle producers including VW Commercial Vehicles, Schaeffler/VDL, Holon, and Verne.

The integration will enhance the platform's autonomous driving capabilities by combining Innoviz's LiDAR technology with Mobileye's imaging radars and high-resolution cameras. The collaboration aims to enable safer and more efficient autonomous transportation, with Start of Production scheduled for 2026.

Innoviz's InnovizTwo product platform, specifically engineered for Mobileye Drive™, will provide a complete set of LiDARs for L4 autonomous driving, designed to navigate complex urban environments.

Positive

• Partnership with major autonomous driving technology provider Mobileye
• Production start confirmed for 2026
• Platform already adopted by significant vehicle manufacturers
• Validation of Innoviz's technology for L4 autonomous driving solutions

Negative

• Production revenue won't materialize until 2026

Insights

Tech Expert

This partnership marks a significant advancement in autonomous vehicle technology. The integration of Innoviz's LiDAR with Mobileye's Drive platform creates a robust autonomous driving system by combining multiple sensing technologies - LiDAR, cameras and imaging radars. The 2026 Start of Production timeline aligns with industry expectations for Level 4 autonomous deployment. Notably, this deal strengthens Innoviz's position in the competitive LiDAR market, particularly as Mobileye has existing relationships with major automotive manufacturers like VW Commercial Vehicles and Schaeffler. The InnovizTwo platform's customization capabilities suggest strong technical advantages, potentially offering Mobileye the flexibility needed for diverse vehicle implementations. This collaboration could accelerate the commercialization of autonomous vehicles, especially in mobility services and commercial transportation sectors.

Financial Analyst

This deal represents a major commercial breakthrough for Innoviz, partnering with one of the leading autonomous driving technology companies. Mobileye's established relationships with global OEMs provide Innoviz significant exposure to the automotive market. The 2026 production timeline suggests a long-term revenue stream, though specific financial terms weren't disclosed. For Innoviz, with its current market cap of $111.7M, this partnership could substantially impact future valuations. The agreement validates Innoviz's technology and positions it as a Tier-1 supplier in the autonomous vehicle supply chain. However, investors should note the extended timeline to revenue realization and potential capital requirements to scale production.

The agreement will see Mobileye integrate Innoviz LiDARs into its autonomous vehicle platform for testing and deployment with key customers

• Mobileye Drive™ platform for autonomous driving has been adopted by significant vehicle producers globally, including VW Commercial Vehicles, Schaeffler / VDL, Holon, and Verne
• The use of state-of-the-art Innoviz LiDARs for this generation of the Mobileye Drive™ platform enhances scalability and reduces complexity across these and potential future customers
• Start of Production will commence in 2026

JERUSALEM and TEL AVIV, Israel, Dec. 11, 2024 /PRNewswire/ -- Mobileye (Nasdaq: MBLY), a global leader in autonomous and driver-assistance technologies, and 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, announced today that Mobileye will use Innoviz's LiDARs for the Mobileye Drive™ platform. This showcases the flexibility of Innoviz's LiDARs to work across a variety of vehicle platforms to further testing and deployment of autonomous vehicles.

 

 

Mobileye Drive™ is a comprehensive driverless system that enables mobility service providers and vehicle manufacturers to make robotaxis, ride-pooling, public transport, and goods delivery fully autonomous, with testing underway in Europe, North America, and Asia. By leveraging Innoviz's expertise in LiDAR technology, in addition to cameras, radars, and imaging radars, vehicles built with the Mobileye Drive platform will deliver safe and smooth driving performance in their operational domains. The agreement is built upon mutual work between the two companies over the past few months, with Start of Production (SOP) beginning in 2026.

"We are pleased to utilize Innoviz LiDARs for the first generation of our Mobileye Drive™ platform to help enable the autonomous performance of our customers' fleets around the world," said Prof. Amnon Shashua, President and CEO of Mobileye. "The integration of our imaging radars and high-resolution cameras in combination with the Innoviz LiDARs will play a key role in delivering Mobileye Drive™ as a powerful autonomous driving system that will ultimately create safer, more efficient, and reliable transportation."

"This is a proud moment for Innoviz as we progress our relationship with Mobileye," said Omer Keilaf, CEO and Co-Founder of Innoviz Technologies. "Our collaboration on next-generation autonomous vehicle solutions that are both safer and more affordable signifies our shared commitment to accelerate AV adoption. The agreement further attests to Innoviz's capability to meet the stringent requirements of OEMs worldwide and support L4 driving solutions that will help drive a new era of mobility."

Innoviz's InnovizTwo product platform was designed for global OEMs and can be customized to suit a wide array of vehicular design and functionality requirements. The cutting-edge platform was specifically engineered for Mobileye Drive™ to provide the L4 autonomous platform with a complete set of LiDARs. The combination of LiDARs and Mobileye's imaging radars as well as high-resolution cameras is critical to enabling comprehensive sensing capabilities for navigating complex urban environments and enhancing the overall safety and reliability of autonomous driving systems.

About Mobileye Global Inc.

Mobileye (Nasdaq: MBLY) leads the mobility revolution with its autonomous driving and driver-assistance technologies, harnessing world-renowned expertise in computer vision, artificial intelligence, mapping, and data analysis. Since its founding in 1999, Mobileye has pioneered such groundbreaking technologies as REM™ crowdsourced mapping, True Redundancy™ sensing, and Responsibility Sensitive Safety (RSS). These technologies are driving the ADAS and AV fields towards the future of mobility – enabling self-driving vehicles and mobility solutions, powering industry-leading advanced driver-assistance systems and delivering valuable intelligence to optimize mobility infrastructure. To date, about 180 million vehicles worldwide have been built with Mobileye technology inside. In 2022 Mobileye listed as an independent company separate from Intel (Nasdaq: INTC), which retains majority ownership. For more information, visit https://www.mobileye.com.

Media Contact
Justin Hyde, justin.hyde@mobileye.com

Investor Contact
Dan Galves, dan.galves2@mobileye.com

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.

Join the discussion: Facebook, LinkedIn, YouTube, Twitter 

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 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 filed with the SEC on March 12, 2024 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. 

Photo: https://mma.prnewswire.com/media/2577822/Innoviz_Technologies.jpg
Logo: https://mma.prnewswire.com/media/1496323/Innoviz_Technologies_Logo.jpg

 

 

Media Contact
media@innoviz-tech.com 

Investor Contact 
investors@innoviz-tech.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/mobileye-to-use-innoviz-lidars-for-its-mobileye-drive-av-platform-302328845.html

SOURCE Innoviz Technologies

FAQ

When will Innoviz start production for Mobileye Drive platform (INVZ)?

Production is scheduled to commence in 2026.

Which vehicle manufacturers have adopted the Mobileye Drive platform using INVZ LiDAR?

The platform has been adopted by VW Commercial Vehicles, Schaeffler/VDL, Holon, and Verne.

What technology will Innoviz (INVZ) provide to Mobileye's autonomous platform?

Innoviz will provide their InnovizTwo LiDAR technology, specifically engineered for the Mobileye Drive™ L4 autonomous platform.

What level of autonomous driving will INVZ LiDAR support in the Mobileye partnership?

The Innoviz LiDAR technology will support Level 4 (L4) autonomous driving capabilities.