Volkswagen to buy $4 billion autonomous driving technology from Israeli company
From the middle of the decade, the Volkswagen Group will use components from the technology company such as laser-based lidar sensors for its driver assistance systems (ADAS) and autonomous vehicles.
Volkswagen buys self-driving software and hardware from Israel-based Innoviz Technologies for $4 billion. Volkswagen’s technology group CARIAD has signed a deal with Innoviz that will see the Volkswagen Group use components such as laser-based lidar sensors for its advanced driver assistance systems (ADAS) and autonomous vehicles from mid-decade.
Omer Keilaf, chief executive and co-founder of Innoviz, said in a statement that the team is excited to be working with the team at CARIAD and to be the supplier of LiDAR sensors and perception software for vehicles that will launch mid-decade . “Cariad is a leading player in the transformation of the entire automotive sector. We are proud to be part of their mission,” Keilaf was quoted as saying in a Carscoops report.
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The Israeli tech company claimed that its advanced LiDAR and perception software can see better compared to a human driver as it reduces the possibility of error. It also added that it also has a LiDAR agreement with BMW. Keilaf said the company is hiring a third party to manufacture the lidar sensors.
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Volkswagen’s CARIAD has signed a number of technical partnerships, including Bosch, Qualcomm and STMicroelectronics. Volkswagen previously invested $2.6 billion in US startup Argo AI as part of the process of transferring the automajor’s European self-driving unit to Argo. Volkswagen also announced a few months ago that it would use Qualcomm chips for its planned autonomous vehicles.
Initial Release Date: August 08, 2022 12:47 p.m. IST