Innoviz to supply LiDAR for top automaker's L3 autonomous system

June 17, 2025 10:13 PM AEST | By EODHD

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Innoviz to supply LiDAR for top automaker's L3 autonomous system — Image source: Kalkine Media

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TEL AVIV - Innoviz Technologies Ltd. (NASDAQ:INVZ), currently trading at $0.93 with a market capitalization of $185.67 million, has signed a Statement of Development Work agreement with a Top 5 global passenger automotive manufacturer to supply LiDAR technology for a Level 3 autonomous driving system planned for production in 2027, according to a press release issued Today. InvestingPro analysis suggests the stock is currently undervalued, with analysts anticipating sales growth in the current year. The agreement involves Innoviz developing hardware and software modifications for its InnovizTwo LiDAR to integrate with the automaker’s vehicle system. Starting in the second quarter of 2025, Innoviz will deliver several hundred units to support the project timeline.

The company has demonstrated strong revenue growth of 28.52% over the last twelve months, maintaining a healthy balance sheet with more cash than debt. The LiDAR technology will be incorporated into the automaker’s next-generation "eyes-off" driving system, allowing drivers to divert attention from the road under certain conditions. "It’s an exciting step forward for the industry as mass market car manufacturers begin moving towards highly automated and fully autonomous driving solutions," said Omer Keilaf, CEO and Co-Founder of Innoviz Technologies. The company, which serves as a Tier-1 supplier to automotive manufacturers, will focus on ensuring its LiDAR technology meets the technical and safety requirements for the program. The financial terms of the agreement were not disclosed in the announcement.

The development work is expected to facilitate a data collection campaign as both companies work toward finalizing a series production agreement. Innoviz Technologies, based in Israel, specializes in LiDAR technology and perception software for autonomous vehicles and has operations across the United States, Europe, and Asia. In other recent news, Innoviz Technologies Ltd. has launched the InnovizSMART Long-Range LiDAR sensor designed for smart city applications. This new sensor offers features such as long-range detection up to 400 meters and is equipped with Power over Ethernet for easier installation and maintenance in urban environments.

The company emphasizes that the sensor is built on its automotive technology, ensuring a high standard of quality and privacy compliance. In a separate development, Innoviz received a non-compliance notice from Nasdaq due to its shares closing below the $1.00 minimum bid price for 30 consecutive business days. The company has been given a 180-day grace period to meet the minimum bid price requirement to avoid delisting. Innoviz plans to monitor its share price and explore options to regain compliance. These recent developments reflect the company’s ongoing commitment to innovation and the challenges it faces in maintaining its Nasdaq listing.

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