CARIAD has selected Innoviz Technologies Ltd. as its supplier of advanced ADAS features for automated vehicles within the Volkswagen Group. The announcement marks Innoviz’s third design win with a major automaker and its first deal as a Tier 1 supplier. CARIAD was launched in 2020 as a subsidiary of Volkswagen Group to “bundle” the global automaker’s software capabilities under one roof to expand them to meet the demands of a new era of mobility. As of this announcement, CARIAD will leverage the InnovizTwo LiDAR sensor and perception software.
“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 Innoviz CEO and Co-Founder Omer Keilaf. “CARIAD is a leading player in the transformation of the whole automotive space. We are proud to be part of their mission.”
In May 2022, Innoviz announced that a significant vehicle manufacturer had selected the company to become its direct LiDAR supplier across multiple brands. “Being selected by a large-scale multi-brand global vehicle maker is a significant catalyst for Innoviz, and we expect this will affect the entire industry, which has been waiting for a decision of this magnitude,” Keilaf said at the time.
Brands within the Volkswagen Group include Audi, Bentley, Bugatti, Cupra, Lamborghini, Porsche, Seat, and Škoda, along with VW Commercial Vehicles and VW itself. “We are expecting the scope of this deal to grow even further as additional car brands within the group adopt our platform,” Keilaf said. “In addition, we anticipate more car makers to follow this decision in their autonomous vehicle programs.”
Forward-Looking Order Book
Innoviz’s forward-looking order book was updated to $6.6 billion following the announcement from CARIAD. Innoviz was founded by former members of the elite technological unit of the Israeli Defense Forces. Collectively, the founders have expertise in electro-optics, computer vision, MEMS design, and signal processing.