Innoviz surges on $4 bln supply deal with Volkswagen unit

Innoviz Technologies

02/08/2022 14:45

(Updates)
    ** Shares of Israel-based lidar technology co Innoviz
Technologies  INVZ.O  rise 16.5% to $4.66
    ** INVZ says it signs $4 bln deal with CARIAD, Volkswagen
AG's  VOWG_p.DE  software unit, to supply advanced driver assist
systems features including lidar sensor and perception software
for automated vehicles under the Volkswagen brands  urn:newsml:reuters.com:*:nFWN2ZE1Z8
    ** CARIAD confirmed the deal, but declined to provide
financial details
    ** INVZ says the deal with VW is co's third design win with
a major automaker 
    ** With deal, Innoviz's forward-looking order book was
updated to $6.6 bln, co says
    ** Up to last close, INVZ down ~37% YTD

 (Reporting by Chavi Mehta in Bengaluru)
 ((Chavi.Mehta@thomsonreuters.com;))