company Inviz which is traded on the NASDAQ, revealed today (Tuesday) that the strategic contract it reported on at the beginning of May was signed with the Volkswagen Group. In a statement, the company stated that it will supply the car lidar sensors it is developing to the CARIAD division of the Volkswagen Group, which is engaged in the procurement, development and implementation of advanced technological components for all The group’s brands. The first news on the subject was published in Globes at the beginning of May.
Inviz will provide Volkswagen with the new and advanced generation of lidar sensors known as “Inviz 2” and it will be embedded in future vehicles from Audi, Volkswagen, Skoda, Seat and other brands, which will be equipped with high-level autonomous capabilities. This is Inviz’s third strategic win against a strategic customer in the automotive industry, with the first published win being with the BMW Group.
Following the win, the company updated its future order forecast, which will continue over several years, to a value of approximately 6.6 billion dollars. Omar Khilaf, co-founder and CEO of Inviz said that “We are excited to work with the CARIAD team as suppliers of lidar sensors and sensing software, in order to support safe mobility in vehicles that will be launched starting in the middle of the decade.”