Innoviz is an Israeli company that specializes in lidar sensors and software that identifies objects based on incoming lidar data. The objects include other vehicles or road markings.
The agreement is between Innoviz and Volkswagen Group’s Cariad software development unit. Cariad has been tasked with developing software for the entire VW Group brand portfolio, including a self-driving system for personal use. VW Group is also collaborating with Argo AI in the United States to develop a self-driving system for commercial use, such as a taxi fleet.
Innoviz anticipates supplying enough units for 5 million to 8 million vehicles over an eight-year period beginning 2025. According to CNBC, the deal could amount to $4 billion in sales.
“We are thrilled to work with the Cariad team and be a supplier of lidar sensors and perception software to support safe mobility for vehicles launching from the middle of the decade,” Omer Keilaf, Innoviz’s CEO and co-founder, said in a statement.
Volkswagen has also announced that it will begin operating a self-driving taxi service using Argo AI’s self-driving system in the German cities of Hamburg and Munich in 2025. Next year, VW and Argo AI will begin testing self-driving taxis in the United States.