Innoviz Technologies

Israeli lidar maker Innoviz announced it has won a contract to supply lidar units and related software to Volkswagen's software company Cariad, worth $4 billion over eight years starting mid-decade. Innoviz expects to supply units for between 5 million and 8 million Volkswagen Group vehicles.

Innoviz Technologies was selected by a leading Tier-1 automotive supplier as the LiDAR provider for its autonomous shuttle program. The agreement is expected to generate hundreds of millions in revenue, with shuttles operational by end of 2022.

BMW has selected Innoviz's InnovizOne solid-state LiDAR for series production of its autonomous vehicles, starting in 2021.