Magna makes strategic investment in Innoviz
Magna has recently made a strategic investment to expand its existing collaboration with Innoviz Technologies Ltd., a developer of solid-state LiDAR technology. Magna began collaborating with Innoviz in December 2016.
Magna has been expanding its overall suite of sensor technologies and features that enable Level 3/4/5 autonomous driving capabilities. "As a market leader in advanced driver-assistance systems, Magna continues to accelerate our development and investments in industry-leading technologies to enable future mobility systems," said Swamy Kotagiri, Magna's Chief Technology Officer. "Solid-state LiDAR is a crucial piece of the puzzle as we integrate multiple technologies that position us as the go-to supplier to meet and exceed our customers' autonomous needs."
Innoviz's solid-state LiDAR can provide high-definition, 3D, real-time images of the vehicle's surroundings regardless of changing light and weather conditions. It is designed to be easily integrated into any vehicle at significantly reduced cost compared to commercially available LiDAR technologies with comparable performance.
"With its renowned expertise, advanced product offering and strong market position, Magna has proven itself as a pioneer in the field of autonomous driving, and we are honored to work with the Magna team to help bring smarter and safer LiDAR technology to market," said Omer Keilaf, Co-founder and CEO of Innoviz. "This strategic investment affirms that our groundbreaking LiDAR technology lives up to the high standards Magna has set for safety and performance, and if it can adhere to Magna's standards it can become the industry standard as well."
Magna will demonstrate its autonomous driving enabling technologies, including Innoviz's solid-state LiDAR technology, at the upcoming 2017 International Motor Show (IAA) from September 14 to 24 in Frankfurt, Germany, Hall 8, booth D34.