The agreement will see Mobileye integrate Innoviz LiDARs into its autonomous vehicle platform for testing and deployment with key customers

• Mobileye Drive™ platform for autonomous driving has been adopted by significant vehicle producers globally, including VW Commercial Vehicles, Schaeffler / VDL, Holon, and Verne
• The use of state-of-the-art Innoviz LiDARs for this generation of the Mobileye Drive™ platform enhances scalability and reduces complexity across these and potential future customers
• Start of Production will commence in 2026

JERUSALEM and TEL AVIV, Israel, Dec. 11, 2024 /PRNewswire/ -- Mobileye (Nasdaq: MBLY), a global leader in autonomous and driver-assistance technologies, and Innoviz Technologies Ltd. (Nasdaq: INVZ) (the "Company" or "Innoviz"), a leading Tier-1 direct supplier of high-performance, automotive-grade LiDAR sensors and perception software, announced today that Mobileye will use Innoviz's LiDARs for the Mobileye Drive™ platform. This showcases the flexibility of Innoviz's LiDARs to work across a variety of vehicle platforms to further testing and deployment of autonomous vehicles.

Mobileye Drive™ is a comprehensive driverless system that enables mobility service providers and vehicle manufacturers to make robotaxis, ride-pooling, public transport, and goods delivery fully autonomous, with testing underway in Europe, North America, and Asia. By leveraging Innoviz's expertise in LiDAR technology, in addition to cameras, radars, and imaging radars, vehicles built with the Mobileye Drive platform will deliver safe and smooth driving performance in their operational domains. The agreement is built upon mutual work between the two companies over the past few months, with Start of Production (SOP) beginning in 2026.

"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."

Innoviz's InnovizTwo product platform was designed for global OEMs and can be customized to suit a wide array of vehicular design and functionality requirements. The cutting-edge platform was specifically engineered for Mobileye Drive™ to provide the L4 autonomous platform with a complete set of LiDARs. The combination of LiDARs and Mobileye's imaging radars as well as high-resolution cameras is critical to enabling comprehensive sensing capabilities for navigating complex urban environments and enhancing the overall safety and reliability of autonomous driving systems.

About Mobileye Global Inc.

Mobileye (Nasdaq: MBLY) leads the mobility revolution with its autonomous driving and driver-assistance technologies, harnessing world-renowned expertise in computer vision, artificial intelligence, mapping, and data analysis. Since its founding in 1999, Mobileye has pioneered such groundbreaking technologies as REM™ crowdsourced mapping, True Redundancy™ sensing, and Responsibility Sensitive Safety (RSS). These technologies are driving the ADAS and AV fields towards the future of mobility – enabling self-driving vehicles and mobility solutions, powering industry-leading advanced driver-assistance systems and delivering valuable intelligence to optimize mobility infrastructure. To date, about 180 million vehicles worldwide have been built with Mobileye technology inside. In 2022 Mobileye listed as an independent company separate from Intel (Nasdaq: INTC), which retains majority ownership. For more information, visit https://www.mobileye.com.

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About Innoviz

Innoviz is a global leader in LiDAR technology, serving as a Tier 1 supplier to the world's leading automotive manufacturers and working towards a future with safe autonomous vehicles on the world's roads. Innoviz's LiDAR and perception software "see" better than a human driver and reduce the possibility of error, meeting the automotive industry's strictest expectations for performance and safety. Operating across the U.S., Europe, and Asia, Innoviz has been selected by internationally recognized premium car brands for use in consumer vehicles as well as by other commercial and industrial leaders for a wide range of use cases. For more information, visit innoviz.tech.

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Forward Looking Statements 

This announcement contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services offered by Innoviz, the anticipated technological capability of Innoviz's products, the markets in which Innoviz operates, future series production nominations, and Innoviz's projected future results. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this announcement including but not limited to, the ability to implement business plans, forecasts, and other expectations, the ability to convert design wins into definitive orders and the magnitude of such orders, the ability to identify and realize additional opportunities, potential changes and developments in the highly competitive LiDAR technology and related industries, and our expectations regarding the impact of the evolving conflict in Israel to our ongoing operations. The foregoing list is not exhaustive. You should carefully consider such risk and the other risks and uncertainties described in Innoviz's annual report on Form 20-F filed with the SEC on March 12, 2024 and other documents filed by Innoviz from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Innoviz assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Innoviz gives no assurance that it will achieve its expectations. 

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