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Innoviz Technologies Awarded Top 5 Passenger OEM Development Program for L3 Global-Production Vehicle Platform
Wednesday, June 25, 2025
InnovizTwo High-Performance LiDAR to be used in Level 3 autonomous system, with start of production (SOP) planned for 2027
TEL AVIV, Israel, June 17, 2025 /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 it has signed a Statement of Development Work (SoDW) agreement with a Top 5 passenger automotive manufacturer. Through this SoDW, Innoviz will supply advanced LiDAR units for the OEM's L3 highly automated series-production program with target SOP of 2027.
Under the terms of this agreement, beginning in Q2 2025, Innoviz will develop hardware and software modifications for its InnovizTwo LiDAR to ensure seamless integration into the OEM's vehicle system, facilitating a smooth ramp towards the planned data collection campaign as the companies work toward a series production agreement. Innoviz will supply several hundred InnovizTwo LiDAR units over the coming months, which will allow both the OEM and the platform provider to adhere to the project's timeline. This integration is intended to support the OEM's next-generation eyes-off driving system, with SOP planned for 2027.
"It's an exciting step forward for the industry as mass market car manufacturers begin moving towards highly automated and fully autonomous driving solutions," said Omer Keilaf, CEO and Co-Founder of Innoviz Technologies. "Collaborating with one of the most respected automotive manufacturers in the world underscores the growing demand for LiDAR solutions that meet the industry's toughest technical and safety standards. We are proud to help lower barriers to AV adoption while supporting the path toward safer and smarter driving."
This agreement reinforces Innoviz's position as a preferred technology partner for global OEMs seeking to advance their assisted and autonomous driving capabilities. The InnovizTwo LiDAR platform delivers exceptional resolution, range, and reliability, offering a scalable solution for high-volume consumer vehicle programs.
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 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, 2024, filed with the U.S. Securities and Exchange Commission ("SEC") on March 12, 2025 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
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