Innoviz Technologies, a lidar manufacturer, has announced that it has won a US$4bn (£3.2bn) contract to supply lidars and perception software for car manufacturer Volkswagen’s autonomous driving division.
The deal with software developer Cariad SE, a Volkswagen subsidiary, will reportedly be worth billions in sales across the next eight years.
Lidars are used in advanced driver assist systems (ADAS) and autonomous vehicles (AVs).
“We are thrilled to work with the Cariad team and be a supplier of Lidar sensors and perception software to support safe mobility for vehicles launching from the middle of the decade,” said Omer Keilaf, CEO and co-founder of Innoviz.
“Cariad is a leading player in the transformation of the whole automotive space.
“We are proud to be part of their mission.”
This is Innoviz’s third contract with Volkswagen and its first as a Tier 1 supplier.