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Innoviz Technologies to Host a 3-Day Global Distributor Summit and Expand LiDAR Sales for Non-Automotive Markets
Innoviz is announcing its first Global Distributor Summit as it ramps the production of InnovizOne to meet strong demand from automotive & non-automotive
About this update from Innoviz Technologies Ltd.
[{"type":"text","content":"Innoviz is announcing its first Global Distributor Summit as it ramps the production of InnovizOne to meet strong demand from automotive & non-automotive markets. Innoviz is hosting a 3-day Global Distributor Summit in its new Israeli headquarters from November 14-17 with partners and distributors from around the world, including Europe, North America, Japan, Taiwan and Korea already registered to attend. The summit will include various strategic, product and sales leadership sessions to promote the purchase and integration of InnovizOne into different customer applications.TEL AVIV, Israel, Nov. 7, 2022 /PRNewswire/ -- Innoviz Technologies (NASDAQ: INVZ) (the \"Company\" or \"Innoviz\"), a technology leader of high-performance, solid-state LiDAR sensors and perception software, announced it significantly expanded its production capability and will host a Global Distributor Summit for its worldwide distributors that help customers purchase and integrate InnovizOne LiDAR. The summit will be at the Company's new headquarters in Israel from November 14-17, 2022, and support InnovizOne LiDAR sales for non-automotive markets beginning in Q4 2022 and ramping up into 2023.\nInnovizOne is Innoviz's first high-end automotive LiDAR and has won the Company two design wins for series production which are nearing their launch. InnovizOne is currently produced on two parallel production lines in two different sites. The first is the production line in Holly, MI, which is owned by Magna and is serving the BMW program for the upcoming 2023 BMW 7 Series. The second is a production line at a contract manufacturer in Germany, which serves to support the autonomous shuttle program with a leading tier-1 automotive supplier and other customers. As part of the Company's preparation for these two automotive program launches, Innoviz went through rigorous stabilization, production and processes improvements. These improvements were implemented on all production lines used for InnovizOne and will serve to accelerate the ramp up of newer products such as InnovizTwo and Innoviz360.\nLeveraging the scale, maturity and quality of the product for the automotive market, InnovizOne can also be used for non-automotive applications such as smart junctions, security, infrastructure monitoring, cranes, construction, automated guided vehicles (AGVs), heavy machinery...