TEL AVIV, Israel, April 13, 2021 /PRNewswire/
-- Innoviz Technologies
Ltd. (Nasdaq: INVZ), a leading provider of
high-performance solid-state LiDAR sensors and perception software,
unveils its groundbreaking InnovizTwo LiDAR sensor
performance. The new generation achieves a 30x performance
improvement over InnovizOne, in addition to a 70% cost reduction,
which the Company believes will allow for its adoption by any type
of vehicle. The Company proudly and publicly shares the full
updated specifications of InnovizTwo to establish InnovizTwo's
technological superiority and market leadership in the most
transparent way. Innoviz continues to develop new technologies to
allow faster adoption of safe autonomous driving for all.
InnovizTwo LiDAR sensor is specifically designed for automakers
and Robotaxi, shuttle, and delivery companies requiring an
automotive-grade, mass-producible solution. Leveraging on previous
generations InnovizPro and InnovizOne, the new InnovizTwo 905nm
LiDAR enjoys the vast expertise developed at Innoviz.
"On our path to become the market leader, we feel responsible
for helping to improve market understanding of LiDARs. Our
LiDAR offers an impeccable visual performance, at such an
impressive price point. I believe InnovizTwo is the world's most
powerful LiDAR that will very soon make autonomous vehicles an
everyday safer reality," said Omer Keilaf, CEO and Co-Founder of
Innoviz. "Its specs and features are designed to exceed
customer requirements. I could not be prouder of our engineering
team for achieving this incredible technological feat."
The new design includes a new detector, scanner, and multiple
advances in the optical packaging and the electric design.
InnovizTwo's significantly improved performance is driven by:
- Extended Field of View (FoV) of 125x40 degrees.
- Increased native resolution of 0.07x0.05 degrees,
over 8000 lines each second, leaving no hazardous object
undetected.
- Exceeding market demand with a range of 300m, with the ability to see small, dark objects
with 10% reflectivity at over 220m
under strong sun conditions of 100Klux using the high resolution of
0.07x0.05 degrees and 20 frames per second, keeping full field of
view.
- Configurable FoV, Region of Interest (ROI) and frame rate,
allows adjustment to dynamic scenario configuration. The
combination of very wide FOV with very long range replaces the need
for installing multiple LiDARs.
- Embedded Innoviz's Automotive-grade Perception Platform
(InnovizAPP) for object detection and classification of cars,
pedestrians, motorcycles as well as providing shape, orientation,
velocity, acceleration and occlusion status. InnovizTwo provides a
secure and holistic solution that includes classification and
detection capabilities in addition to the point cloud within the
same box.
- ASIL B(D) functional safety, full temperature range of -40 to
85 Deg C, AUTOSAR, ASPICE, automotive ethernet interface &
cyber protection.
- Flexible and modular design to allow multiple design tradeoffs
between multiple markets and verticals.
InnovizTwo samples will undergo rigorous testing and revisions
this year in order to reach an optimum design. Innoviz expects that
the product will enter series production during 2022 to serve
leading OEM car programs due in 2023. Innoviz is also developing
new manufacturing tools in order to enable it to reach production
levels of between 500,000 and 1,000,000 units per year by 2024.
Customers that are using InnovizOne today will be able to switch to
InnovizTwo as their programs scale to leverage cost and performance
improvements. InnovizOne, already in production, was chosen by BMW
for use on several of its models, supporting its first generation
of consumer autonomous vehicles. InnovizTwo high volume production
is planned to be managed and scale though Innoviz's multiple tier I
partners.
About Innoviz Technologies
Innoviz is a leading provider of technology that will put
autonomous vehicles on roads, ultimately changing the world and
making life better. Innoviz is the only company with LiDAR
technology that can "see" better than a human driver, while also
meeting the automotive industry's strict requirements for
performance, safety and price. Selected by BMW for its fully
electric autonomous car program, Innoviz's technology will be the
first to be deployed in consumer vehicles. Innoviz is backed by
top-tier strategic partners and investors, including SoftBank
Ventures Asia, Samsung, Magna International, Aptiv, Magma Venture
Partners, and others. For more information,
visit www.innoviz.tech
Media
Contact:
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Media@innoviz-tech.com
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Investor
Contact:
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Maya
Lustig
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Gateway Investor
Relations
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Innoviz
Technologies
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Cody Slach or Matt
Glover
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+972 54
6778100
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(949)
574-3860
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Maya.lustig@innoviz-tech.com
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Investors@innoviz-tech.com
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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 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 identify and realize additional
opportunities, and potential changes and developments in the highly
competitive LiDAR technology and related industries. The foregoing
list of factors is not exhaustive. You should carefully consider
the foregoing factors and the other risks and uncertainties
described in the definitive proxy statement/prospectus filed with
the SEC on March 11, 2021 and 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