Selection Represents Innoviz's Fourth Major Design Win and Second Nomination for Series Production of Passenger Vehicles as a Direct Supplier

Asian Automobile OEM Selects Innoviz as Direct LiDAR Supplier

Innoviz Technologies Ltd. (NASDAQ: INVZ), a leading provider of high-performance LiDAR sensors, announced today that one of the largest Asian automotive OEMs has chosen the Company as its direct LiDAR supplier for series production passenger cars.

James Davis

Innoviz will provide an InnovizTwo LiDAR sensor to position cars for complete L3 automation for series production.

The partnership is expected to generate revenues during fiscal year 2024.

"With this selection, we are continuing our momentum and further demonstrating Innoviz's capabilities as a Tier 1 supplier to the world's leading car makers and expanding to additional geographies," said Innoviz CEO and Co-Founder Omer Keilaf.
"We are proud of the significant progress we have made, particularly in recent months, and well positioned to further strengthen and solidify our position as a leading supplier for autonomous vehicles. We look forward to supporting this new program with a fully featured solution for all levels of autonomous driving, paving the path to full L3 automation."

The award is Innoviz's fourth major design win and second nomination for series production of passenger vehicles as a direct supplier, and it comes on the heels of the company's recently announced partnership with Volkswagen, in which Innoviz will work directly with Cariad SE, Volkswagen's automotive software company, to integrate the company's technology into upcoming Volkswagen vehicles.

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