Innoviz surges on deal to supply sensors to Volkswagen

Innoviz Technologies

02/08/2022 12:48

** Shares of Israel-based lidar technology co Innoviz
Technologies  INVZ.O  rise 16.3% to $4.63 premarket
    ** INVZ signs 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
    ** INVZ says the deal with VW is co's third design win with
a major automaker and first deal as a Tier-1 supplier
    ** With deal, Innoviz's forward-looking order book was
updated to $6.6 bln, co says
    ** Up to last close, INVZ was down ~37% YTD

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