Israeli lidar maker Innoviz wins $4 billion Volkswagen contract for millions of sensors
Summary
Under the deal, Volkswagen will incorporate Innovizs latest automotive lidar unit and its proprietary perception software into vehicles across its portfolio. Lidar — meaning, light detection and ranging — uses an invisible laser beam to scan surroundings and construct a detailed three-dimensional image. The sensors are considered critical components of most autonomous-driving systems, which compare the images generated by lidar with a detailed three-dimensional map to double-check the vehicles precise location. As the costs of development and production have fallen, the sensors have seen broader adoption across vehicles and driver-assist systems – leading to fierce competition between a slew of lidar startups for automaker business. The company has an existing deal with BMW, but that agreement has established auto supplier Magna International manufacturing and delivering Innovizs lidar units to the automaker as something of a go-between.