Magna joins Delphi in backing Innoviz

Magna joins Delphi in backing Innoviz

Business news |
By Peter Clarke

Magna has been expanding its suite of technologies that enable level 3, 4 and 5 autonomous driving. The size of the investment was not revealed. Delphi Automotive plc (Gillingham, England) announced that it had taken a minority stake recently (see Delphi takes stake in lidar startup Innoviz).

“Solid-state lidar is a crucial piece of the puzzle as we integrate multiple technologies that position us as the go-to supplier to meet and exceed our customers’ autonomous needs,” said Swamy Kotagiri, Magna’s CTO, in a statement.

Omer Keilaf, co-founder and CEO of Innoviz, commented: “This strategic investment affirms that our groundbreaking LiDAR technology lives up to the high standards Magna has set for safety and performance, and if it can adhere to Magna’s standards it can become the industry standard as well.”

Related links and articles:

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Magna partners with Innoviz on Lidar technology

Delphi takes stake in lidar startup Innoviz

Lidar startup becomes ‘unicorn’

Automotive lidar startup raises Series A

Osram invests in Lidar expert LeddarTech

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