August 9, 2022

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Innoviz jumps on huge Volkswagen sensors order

Innoviz jumps on huge Volkswagen sensors order

Innoviz will supply its new era, highly developed sensor identified as Innoviz 2 for set up in upcoming designs of Audi, Skoda, Seat, and Volkswagen autos.

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Israeli lidar vehicle sensors Innoviz Technologies Ltd. (Nasdaq: INVZ) has documented that it has signed a strategic agreement with Volkswagen. The company claimed that it will source lidar sensors to Volkswagen’s CARIAD division, which is engaged in procuring, creating and setting up state-of-the-art technology components in VW Group’s cars.

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Innoviz will provide its new technology, innovative sensor called Innoviz 2 for set up in long run styles of Audi, Skoda, Seat, and Volkswagen vehicles and supplemental manufacturers in the team. This is Innoviz’s third strategic offer and its to start with deal was with BMW.

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With its third design gain, Innoviz’s ahead-wanting buy e-book was current to $6.6 billion.

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Innoviz cofounder and CEO Omer Keilaf explained, “We are thrilled to work with the CARIAD team and be a supplier of LiDAR sensors and perception software to assistance protected mobility for automobiles launching from the middle of the 10 years. CARIAD is a primary participant in the transformation of the complete automotive space.”

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Innoviz’s share value is up 20% on Nasdaq at $4.79, providing a market place cap of $642.75 million.

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Posted by Globes, Israel company information – en.globes.co.il – on August 2 2022.

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© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

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Dubi Ben Gedalayahu and Shiri Habib-Valdhorn