According to Automotive News Europe, Innoviz Technologies will supply hardware and software to Volkswagen Group's Cariad unit for $4 billion, with deliveries expected in 2025.
Founded in 2016, Innoviz is a leading manufacturer of high-performance solid-state lidars. The company's CEO and co-founder Omer Keilaf described the deal in a statement as a "significant catalyst" for the company.
Innoviz said in a statement that the components, including laser-based lidar sensors, will be used in advanced driver-assistance systems and autonomous vehicles across several Volkswagen Group brands.
The report also pointed out that as early as 2018, Innoviz had partnered with Magna to provide lidars for German automaker BMW.