Israel’s Innoviz to supply Volkswagen with Lidar sensors in USD 4 billion deal
Categories: Hi-Tech, Projects & Energy
Israeli lidar start-up Innoviz has struck a deal reported to be worth USD 4 billion with Volkswagen to supply advanced ADAS features for its next generation of automated vehicles.
The deal will run for eight years starting “mid-decade”, when the first Innoviz-equipped Volkswagen group vehicles are expected to ship. Innoviz expects to supply units for between 5-8 million Volkswagen Group vehicles in total.
Innoviz develops lidar remote-sensing solutions for fully autonomous vehicles. Lidar is an acronym for “light detection and ranging” and it is used to calculate the ranges of various surroundings by targeting an object or a surface with a laser and measuring the time for the reflected light to return to the receiver.
