ISRAEL - $4 Billion LiDAR Sensor Deal with Volkswagen

Arno Froese

Israel’s Innoviz Technologies, a maker of sensors for self-driving cars, has landed a contract to supply sensors and perception software to Volkswagen in a deal worth about $4 billion.

Under the deal, Innoviz will provide LiDAR technology and software to VW’s autonomous vehicles unit called CARIAD starting in 2025. Innoviz expects to supply between 5-8 million LiDAR units across multiple brands within the Volkswagen Group over an eight-year period, according to CNBC.

InnovizOne will be used by German carmaker BMW for its fully electric iX autonomous car program, in a deal through auto manufacturer and supplier Magna International. Innoviz also has a separate deal with Samsung Electronics’s Harman International Industries to sell Innoviz’s solutions to car manufacturers globally.

Before going public last year, the Israeli firm raised more than $250 million from investors including Magna International, Samsung Catalyst Fund, an arm of Samsung Electronics, and SoftBank Ventures in Korea, according to the database of Start-Up Nation Central, which tracks Israel’s tech scene.

-www.timesofisrael.com, 2 August 2022

Arno's Commentary

There is no end in sight to progressive, scientific technology. This is particularly evident in communication and transportation which have boosted not only the industrial manufacturing industry, but also agriculture. Almost yearly, higher yields are reported by the various agricultural organizations.

When Israel was founded in 1948, there was no cell phone.  That had to wait until 1973, when Dr. Martin Cooper presented the Motorola DynaTAC 8000X. Compared to today’s iPhone, for example, the Motorola can be called extremely primitive. Will cars drive themselves? They already do. All new cars are managed, and in some cases driven, by a computer. Actually, anytime I break the speed limit, it is recorded, time and place.

Innoviz claims to “help automakers improve their vehicles’ safety, perception, connectivity, and experience.” Note that motor vehicle accidents and fatalities have been drastically reduced over the years.

Unfortunately. news articles presented to the public on a daily basis, incorporate a hidden danger: neglecting the most important development for humanity: “The fear of the Lord is the beginning of wisdom: and the knowledge of the holy is understanding” (Proverbs 9:10).

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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