Innoviz successfully completed an 18-day test in the harshest
winter conditions, demonstrating the robustness and reliability of
the InnovizTwo LiDAR and Perception Software
TEL
AVIV, Israel, April 18,
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, announced today the successful completion
of a winter test for its InnovizTwo LiDAR and Perception Software,
a key engineering and R&D achievement.
IInnoviz uses winter tests to measure and scrutinize the
Company's products for thousands of kilometers. The data and
insights accumulated are used to improve Innoviz's proprietary
AI-backed software and hardware solutions. Ahead of the drive,
Innoviz received TÜV SÜD Certification Mark for Roof Racks,
establishing an essential industry benchmark, approving the LiDAR
roof setup to operate on roads.
During an 18-day period, through more than 120 hours of driving,
and across ten countries, including Germany, Denmark, Sweden, Finland, Estonia, Latvia, Lithuania, Poland, Czech
Republic and Austria, the
test demonstrated the effective performance of the Innoviz suite of
advanced autonomous solutions in the harshest of winter conditions,
including extreme temperatures, rain, snow, and heavy fog. The
winter test provided invaluable data and insights for the vehicle
as it traversed some of the world's most challenging driving
conditions and the successful results demonstrate Innoviz's
commitment to building best-in-class technology to power advanced
autonomous driving.
"The winter test is the latest validation of Innoviz's ability
to provide drivers with a safe, dynamic, and advanced autonomous
driving experience," said Omer Keilaf, CEO and Co-Founder
of Innoviz Technologies. "Proving its efficacy in diverse
conditions – from the bluest of skies to the harshest icy
conditions - and enriching our software with road data will take
the Innoviz AI-platform to the next level. We are confident this
technology will help demonstrate our ability to meet strict
timelines and showcase the robustness of our architecture."
In 2030*, approximately 10 million LiDAR scanners across various
autonomy levels are expected to be sold globally in the automotive
market. The number of LiDAR scanners to be sold in 2035 is likely
to be more than double according to IHS.
*According to IHS data from February
2024
About InnovizTwo LiDAR
InnovizTwo is a robust solution, operating seamlessly in the
harshest of weather conditions. Capable of supporting several
levels of autonomy, InnovizTwo is Innoviz's next-generation LiDAR
sensor featuring superior quality and bringing autonomous
capabilities for automakers faster and cheaper. Click here to
read more about InnovizTwo.
About Innoviz's AI-Based Perception Software
As the "Brain" behind the "Eyes" of the InnovizTwo LiDAR, the
proprietary AI algorithms of Innoviz's Perception Software provide
advanced object detection, classification, and tracking features,
as well as collision classification, localization, and calibration
capabilities, with the potential to transform how autonomous cars
perceive and navigate the world. Click here to read more about
Innoviz's Perception Software.
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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Media Contact
Media@innoviz-tech.com
Investor Contact
Investors@innoviz-tech.com
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
operational and financial 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, and 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.
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SOURCE Innoviz Technologies