Volkswagen is Inviz's mysterious giant customer
August 2, 2022
ordered LiDAR sensors to the extent of approximately 6.6 billion dollars. The order was placed through CARIAD, which is the technology arm of the group. Among other things, it is building a uniform information platform for all Volkswagen brands
Pictured above: Innoviz's second generation sensor, InnovizTwo. Will be installed in millions of Volkswagen cars
Innoviz today revealed one of its biggest secrets in recent months: the CARIAD company, which is a technology arm of the Volkswagen Group, is the one that placed an order for LiDAR sensors worth billions of dollars. "We are excited to work with the CARIAD team as suppliers of lidar sensors and sensing software, in order to support safe mobility in vehicles that will be launched starting in the middle of the decade," said today (Tuesday) Omar Khilaf, co-founder and CEO of Inviz.
During the conference call in May after the publication of the results of the first quarter of 2022, Kilf revealed that a contract of approximately 4 billion dollars had been signed for the supply of the company's second-generation LiDAR sensors, InnovizTwo, including the environmental sensing and orientation software. The identity of the orderer was kept secret, but he said that the sensors will be installed in about 8 million cars belonging to the group's premium brands, for L2 and L3 applications. At the same meeting, he said that the scope of the transaction may increase if other car brands in the group adopt the solution. Indeed, today the company updated the scope of the transaction to about 6.6 billion dollars.
Full hardware and software control strategy
CARIAD is a technological arm of the Volkswagen Group and employs about 5,000 developers and engineers. It supplies all the company's brands with software and chips, and is currently engaged in the development of a uniform software platform and operating system for all the group's cars. At the same time, it entered into a long-term partnership with the European chip manufacturer STMicroelectronics, within the framework of which they plan to soon launch an initiative for the joint development of hardware and software infrastructures for a "software-defined vehicle".
The purpose of this partnership is to secure the supply chain of the entire Volkswagen Group, and to provide a uniform hardware and software infrastructure for all the group's brands. Among other things, it will instruct all the group's secondary suppliers to use only the chips included in this move. From the agreement with Inviz, it can be understood that the mandate that CARIAD received from Volkswagen is much larger, and probably also includes the construction of a uniform infrastructure for smart vehicle systems, ADAS systems and apparently also an autonomous vehicle.
The new agreement shows that Volkswagen is overtaking BMW as Inviz's largest customer: about a year ago, Inviz estimated that the agreement with the manufacturing contractor Magna, for LiDAR systems to be installed in BMW cars, would give it revenues of approximately 2 billion dollars until 2030. Following the announcement of the win, Inviz's share on NASDAQ rose by almost 21% and is traded at a market value of approximately 652 million dollars.
techtime.co.il
August 2, 2022
ordered LiDAR sensors to the extent of approximately 6.6 billion dollars. The order was placed through CARIAD, which is the technology arm of the group. Among other things, it is building a uniform information platform for all Volkswagen brands
Pictured above: Innoviz's second generation sensor, InnovizTwo. Will be installed in millions of Volkswagen cars
Innoviz today revealed one of its biggest secrets in recent months: the CARIAD company, which is a technology arm of the Volkswagen Group, is the one that placed an order for LiDAR sensors worth billions of dollars. "We are excited to work with the CARIAD team as suppliers of lidar sensors and sensing software, in order to support safe mobility in vehicles that will be launched starting in the middle of the decade," said today (Tuesday) Omar Khilaf, co-founder and CEO of Inviz.
During the conference call in May after the publication of the results of the first quarter of 2022, Kilf revealed that a contract of approximately 4 billion dollars had been signed for the supply of the company's second-generation LiDAR sensors, InnovizTwo, including the environmental sensing and orientation software. The identity of the orderer was kept secret, but he said that the sensors will be installed in about 8 million cars belonging to the group's premium brands, for L2 and L3 applications. At the same meeting, he said that the scope of the transaction may increase if other car brands in the group adopt the solution. Indeed, today the company updated the scope of the transaction to about 6.6 billion dollars.
Full hardware and software control strategy
CARIAD is a technological arm of the Volkswagen Group and employs about 5,000 developers and engineers. It supplies all the company's brands with software and chips, and is currently engaged in the development of a uniform software platform and operating system for all the group's cars. At the same time, it entered into a long-term partnership with the European chip manufacturer STMicroelectronics, within the framework of which they plan to soon launch an initiative for the joint development of hardware and software infrastructures for a "software-defined vehicle".
The purpose of this partnership is to secure the supply chain of the entire Volkswagen Group, and to provide a uniform hardware and software infrastructure for all the group's brands. Among other things, it will instruct all the group's secondary suppliers to use only the chips included in this move. From the agreement with Inviz, it can be understood that the mandate that CARIAD received from Volkswagen is much larger, and probably also includes the construction of a uniform infrastructure for smart vehicle systems, ADAS systems and apparently also an autonomous vehicle.
The new agreement shows that Volkswagen is overtaking BMW as Inviz's largest customer: about a year ago, Inviz estimated that the agreement with the manufacturing contractor Magna, for LiDAR systems to be installed in BMW cars, would give it revenues of approximately 2 billion dollars until 2030. Following the announcement of the win, Inviz's share on NASDAQ rose by almost 21% and is traded at a market value of approximately 652 million dollars.
פולקסווגן היא לקוח-הענק המסתורי של אינוויז - Techtime - חדשות אלקטרוניקה והייטק
הזמינה חיישני LiDAR בהיקף של כ-6.6 מיליארד דולר. ההזמנה בוצעה באמצעות חברת CARIAD, שהיא הזרוע הטכנולוגית של הקבוצה. בין השאר היא בונה פלטפורמת מידע אחידה לכל מותגי פולקסווגן
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