Shares of Innoviz Technologies (INVZ) jumped 15% in premarket trading on Tuesday, after the company was selected as the LiDAR supplier for Daimler’s upcoming SAE (Society of Automotive Engineers) level 4 autonomous Class 8 semi-trucks.
Innoviz will provide its InnovizTwo Short-Range LiDAR sensors to Daimler Truck and its subsidiary, Torc Robotics. The LiDAR system will be integrated into the autonomous Freightliner Cascadia alongside Torc’s virtual driver technology. Daimler plans to deploy the Level 4 autonomous trucks across North American roads.
“Integrating Innoviz's technology into our self-driving vehicle software solution enhances our system's ability to detect, classify, and track objects in real time across diverse road and weather conditions. Innoviz's sensors deliver the consistency and durability required for commercial operation, while supporting the redundancy needed for safe Level 4 autonomy,” said Mike Avitabile, Head of Engineering at Torc.
On September 8, Innoviz stated that it had been selected as a future series-production supplier by a major commercial vehicle OEM to supply advanced LiDAR units for SAE Level 4 autonomous Class-8 semi-trucks.
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