Mobileye to use Innoviz LiDARs for Mobileye Drive platform, no terms disclosed

Mobileye (MBLY) and Innoviz Technologies (INVZ) announced earlier on Wednesday that Mobileye will use Innoviz’s LiDARs for the Mobileye Drive platform. ..”We are pleased to utilize Innoviz LiDARs for the first generation of our Mobileye Drive platform to help enable the autonomous performance of our customers’ fleets around the world,” said Prof. Amnon Shashua, President and CEO of Mobileye. “The integration of our imaging radars and high-resolution cameras in combination with the Innoviz LiDARs will play a key role in delivering Mobileye Drive as a powerful autonomous driving system that will ultimately create safer, more efficient, and reliable transportation.” “This is a proud moment for Innoviz as we progress our relationship with Mobileye,” said Omer Keilaf, CEO and Co-Founder of Innoviz Technologies. “Our collaboration on next-generation autonomous vehicle solutions that are both safer and more affordable signifies our shared commitment to accelerate AV adoption. The agreement further attests to Innoviz’s capability to meet the stringent requirements of OEMs worldwide and support L4 driving solutions that will help drive a new era of mobility.”