Written by Kfir Kedem – August 23, 2022
Reviewed by Asaf Kedem
Innoviz Technologies, the Israeli lidar manufacturer that has been featured on Auto Trendy multiple times, has made big financial news this month. The company’s stock price shot up once news of a long-term deal with Volkswagen went public.
This deal would include millions of lidar sensors and last for 8+ years. The amount of sensors forecasted would equip between 5-8 million Volkswagen vehicles. Such a deal would result in a potential $4 billion in sensor sales.
Auto Trendy’s take:
Great news to hear about Innoviz Technologies, but not extremely surprising. Other major deals have been made by the company such as the deal to mass produce sensors for BMW. The Israeli startup is innovative and capable and will likely score other major automotive OEMs as partners in the near future.