Innoviz Technologies Ships First InnovizTwo LiDAR Units from Fabrinet's High-Volume Production Line, Reinforcing its Position in the Autonomous Vehicle Market.

Innoviz Technologies has begun shipping its InnovizTwo LiDAR units from Fabrinet's high-volume production line, a milestone that positions Innoviz to meet increasing demand in the autonomous vehicle market. The partnership with Fabrinet enables Innoviz to scale production efficiently and cost-effectively, adhering to stringent quality standards. This marks a critical step in Innoviz's transition from a technology developer to a volume supplier, reinforcing its position as a leading player in the automotive LiDAR industry.

Innoviz Technologies Ltd. has achieved a significant milestone by commencing the shipment of its InnovizTwo LiDAR units from Fabrinet's high-volume production line. This marks a pivotal step in Innoviz's journey to meet the growing demand for autonomous vehicle solutions.

The partnership with Fabrinet enables Innoviz to scale production efficiently and cost-effectively, adhering to stringent quality standards. The production ramp-up at Fabrinet's facility follows months of collaboration and extensive training, ensuring that all production procedures meet Innoviz's rigorous quality standards [1].

The shipment of the first units represents a critical achievement for Innoviz. "Shipping the first InnovizTwo units from Fabrinet is a critical achievement for us," said Ido Luski, Innoviz's Co-Chief Operation Officer. "This milestone proves that we are well positioned to ramp up production, scale our operations and meet growing demand efficiently and cost-effectively at the highest automotive-grade standard" [2].

Innoviz's LiDAR and perception software are designed to "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 [1].

With this first shipment, Innoviz moves closer to meeting the growing demand for scalable autonomous vehicle solutions for automotive OEMs and mobility companies worldwide. Fabrinet's global footprint of manufacturing sites spread across the United States and Asia enables Innoviz to scale production to volume efficiently and cost-effectively [2].

References:
1. [1] https://www.marketscreener.com/quote/stock/INNOVIZ-TECHNOLOGIES-LTD-121074852/news/Innoviz-Technologies-Ltd-Ships-First-Innoviztwo-Lidar-Units-from-Fabrinet-s-High-Volume-Production-50457901/
2. [2] https://finance.yahoo.com/news/innoviz-technologies-ships-first-innoviztwo-120000382.html