Innoviz Technologies Introduces Its Next Generation, InnovizTwo, Which Will Accelerate the Industry Towards Autonomous Driving, Enabling Safe Mobility To All

ROSH HA’AYIN, Israel, Oct .14, 2020 /PRNewswire/ — Innoviz Technologies, a leading provider of high-performance, solid-state LiDAR sensors and perception software, is launching a next-generation sensor to its product line – the InnovizTwo. The new high-performance automotive-grade LiDAR sensor offers a fully featured solution for all levels of autonomous driving at a dramatically lower cost.

<img id="prnejpgbf8cleft" title="The new InnovizTwo…

ROSH HA’AYIN, Israel, Oct .14, 2020 /PRNewswire/ — Innoviz Technologies, a leading provider of high-performance, solid-state LiDAR sensors and perception software, is launching a next-generation sensor to its product line – the InnovizTwo. The new high-performance automotive-grade LiDAR sensor offers a fully featured solution for all levels of autonomous driving at a dramatically lower cost.

The new InnovizTwo high-performance automotive-grade LiDAR sensor offers a fully featured solution for all levels of autonomous driving at a dramatically lower cost.

Although the automotive industry is well on its way to a highly automated future, this realization is still a few years away. Today, even the most advanced L2+1 platforms face technical limitations that result in safety issues, which hinder growth and avoid the opportunity to reach higher levels of automation over time. Only select car manufacturers are able to make the quantum leap needed for offering L32 cars themselves, a process that requires the work of hundreds of engineers over several years of validation, across all driving scenarios, to the point that they are willing to take full liability prior to the launch of a L3 car.

To allow a safer and smoother adoption of automation, the industry will need to introduce L2+ functionality, but with hardware that supports L3 and L43 upon launch. With more and more vehicles effectively equipped, car manufacturers will be able to collect roadway data and release more advanced functions to those same vehicles via over-the-air updates, increasingly adding features to meet L3 and L4. To pursue this strategy, hardware must fulfill more advanced technical requirements, while also coming under the price point of today’s L2 technology.

To allow this vision, Innoviz is now announcing a new generation of its LiDAR, InnovizTwo.

It has always been the industry’s pioneers such as BMW who set the bar for others in the automotive space, introducing the newest, most innovative technologies. As such, in 2018, BMW chose to deploy InnovizOne, Innoviz’s high-end automotive-grade solid-state LiDAR, through Magna as the Tier-1 supplier, as part of its L3-L4 autonomous vehicle program planned to be the first in the market. This clearly signaled Innoviz’s solution as the best fit for mass-produced autonomous vehicles that allow hands-off driving on highways at higher speeds. Nearly three years later, Innoviz is announcing InnovizTwo, a major cost reduction design of over 70% compared to InnovizOne, including a significant performance improvement. Samples of InnovizTwo will be available in Q3 2021.

«We know how difficult it is to introduce a fully validated L3 platform to the market,» explains Omer Keilaf, CEO and co-founder of Innoviz. «Taking such a big step is possible by only a few car manufacturers. We are excited to introduce our next generation product, InnovizTwo, which solves a significant bottleneck in the industry. InnovizTwo will allow more car makers to offer safe L2+, while paving the path to full L3 automation in the most efficient and safe way, eventually enabling the autonomous revolution.»

Including Innoviz’s high-performance LiDAR and its advanced Perception Software in L2+ platforms will not only bring safer mobility to all, they will also allow the car manufacturers, Tier-1s and Innoviz to collect data through their customer base. While L2+ drivers are still liable for the car drive, new features will continue to be validated, and, later, when safety is statistically proven, the software will be upgraded to full L3 without any hardware change.

Mr. Alejandro Vukotich, former Senior VP of Automated Driving and Driver Assistance Systems at Audi and BMW explains: «Aside from all the technical challenges, it is key to achieve a price point that enables the industry to introduce a commercially viable technology in the market as a L2 system, and then to incrementally validate and verify the L3 in the field before it gets released as a software update. The InnovizTwo is definitely an important and huge milestone in this direction.»

Innoviz’s mission is to provide safe mobility to all. Innoviz’s solutions enable safe autonomy by bringing unparalleled optics, seamless design and cutting-edge software to market. Supported by the knowledge and experience accumulated by the industry’s top talent, Innoviz will continue to spearhead the product roadmap, addressing the key need for safe, affordable autonomous vehicle technology.  

1 L2: Partial Automation. The vehicle can control both steering and accelerating/decelerating, human supervision is always required.

2 L3: High Automation. The vehicle can perform all driving functions under certain circumstances in which no human supervision is required. The driver is required to be able to regain control.

3 L4: Fully Automated. The vehicle can perform all driving tasks in specific geographical areas without requiring human presence.

About Innoviz Technologies

Innoviz is a leading manufacturer of high-performance, solid-state LiDAR sensors and perception software that enable the mass production of autonomous vehicles. Innoviz’s offerings include InnovizOne, an automotive-grade, mass-producible LiDAR sensor, and perception software designed to complement its hardware offerings with advanced AI and machine learning-based classification, detection and tracking features. Innoviz is backed by top-tier strategic partners and investors, including SoftBank Ventures Asia, Samsung, Magna International, Aptiv, Magma Venture Partners, Vertex Ventures, China Merchants Capital (SINO-BLR Industrial Investment Fund, L.P.), 360 Capital Partners, Glory Ventures, Naver, Shenzhen Capital Group, New Alliance Capital, Harel Insurance Investments and Financial Services, Phoenix Insurance Company and others. For more information, visit www.innoviz.tech.

CONTACT: Chelsea Lauber, innoviz@antennagroup.com

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Workhorse Receives Additional Executive Order From the California Air Resources Board for its C-1000 Extended Range Electric Truck

CINCINNATI, Oct. 14, 2020 /PRNewswire/ — Workhorse Group Inc. (Nasdaq: WKHS) («Workhorse» or «the Company»), an American technology company focused on providing sustainable and cost-effective drone-integrated electric vehicles to the last-mile delivery sector, today announced that its 2020…

CINCINNATI, Oct. 14, 2020 /PRNewswire/ — Workhorse Group Inc. (Nasdaq: WKHS) («Workhorse» or «the Company»), an American technology company focused on providing sustainable and cost-effective drone-integrated electric vehicles to the last-mile delivery sector, today announced that its 2020 C-1000 Extended Range delivery truck has received Executive Order: A-445-003-1 from the California Air Resources Board («CARB»), designating this model as a zero-emission vehicle in the state of California. This award follows the Company’s prior award for its standard configurations, which was previously announced in July.

Under Section 177 of the Clean Air Act, California as well as 13 other states have adopted vehicle standards which require additional approvals beyond EPA regulations. The Executive Order permits Workhorse to sell its C-1000 Extended Range electric delivery van in every state throughout the U.S.

«Adding our Extended Range C-Series model to the CARB-approved list provides us with yet another option for potential buyers looking to electrify their fleets in more than a dozen energy-focused states,» said Workhorse CEO Duane Hughes. «We have submitted the application for getting this vehicle model onto HVIP, which will be a material sales driver as additional funds become available through the program. Going forward, we’re continuing to improve our vehicle capabilities, as evidenced by our recent near 160-mile range achievement, and are also leveraging all available resources to further strengthen the total cost-of-ownership, making Workhorse trucks even more affordable than their ICE counterparts.»

An Executive Order from CARB is given to vehicle manufacturers who meet specific emissions standards in compliance with CARB regulations. It is also one of the preliminary requirements needed to be considered for the California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project («HVIP»), which permits the truck to be eligible for monetary vouchers.

During the Executive Order testing process, Workhorse’s C-1000 Extended Range achieved a urban/highway blended driving range of 149 miles miles per charge with the urban driving average approaching 160 miles, which most closely emulates the duty cycles of  last-mile delivery programs. As a result of this premium mileage achievement within its class, Workhorse will receive 2.07 Zero Emission Vehicle («ZEV») credits for this model. ZEV credits can be sold to other original equipment manufacturers («OEMs») to help meet CARB emission standards.

C-1000 Extended Range F.E. Label

About Workhorse Group Inc. 
Workhorse is a technology company focused on providing drone-integrated electric vehicles to the last-mile delivery sector. As an American original equipment manufacturer, we design and build high performance, battery-electric vehicles including trucks and aircraft. Workhorse also develops cloud-based, real-time telematics performance monitoring systems that are fully integrated with our vehicles and enable fleet operators to optimize energy and route efficiency. All Workhorse vehicles are designed to make the movement of people and goods more efficient and less harmful to the environment. For additional information visit workhorse.com.

Forward-Looking Statements
This press release includes forward-looking statements.  These statements are made under the «safe harbor» provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as «believes,» «expects,» «anticipates,» «estimates,» «projects,» «intends,» «should,» «seeks,» «future,» «continue,» or the negative of such terms, or other comparable terminology. Forward-looking statements are statements that are not historical facts.  Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein.  Factors that could cause actual results to differ materially include, but are not limited to: our limited operations and need to expand in the near future to fulfill product orders; risks associated with obtaining orders and executing upon such orders; the ability to protect our intellectual property; the potential lack of market acceptance of our products; potential competition; our inability to retain key members of our management team; our inability to raise additional capital to fund our operations and business plan; our inability to satisfy covenants in our financing agreements; our inability to maintain our listing of our securities on the Nasdaq Capital Market; our inability to satisfy our customer warranty claims; our ability to continue as a going concern; our liquidity and other risks and uncertainties and other factors discussed from time to time in our filings with the Securities and Exchange Commission («SEC»), including our annual report on Form 10-K filed with the SEC. Workhorse expressly disclaims any obligation to publicly update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.

Media Contact:

Mike Dektas
Creative Storm PR
513-266-3590
mike@creativestorm.com

Investor Relations Contact:

Matt Glover and Tom Colton
Gateway Investor Relations
949-574-3860
WKHS@gatewayir.com 

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SOURCE Workhorse Group Inc.

Lear Climate Change Strategy Aims for Net Zero Emissions by 2050

SOUTHFIELD, Mich., Oct. 14, 2020 /PRNewswire/ — Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today expanded its sustainability efforts by announcing several new environmental goals, including achieving net zero emissions by 2050.

<a href="https://mma.prnewswire.com/media/460765/lear_corporation_logo.html" target="_blank"…

SOUTHFIELD, Mich., Oct. 14, 2020 /PRNewswire/ — Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today expanded its sustainability efforts by announcing several new environmental goals, including achieving net zero emissions by 2050.

Lear further plans by 2030 to use 100% renewable energy at the company’s manufacturing facilities and reduce carbon emissions by 50%. The timeframes align with the U.N. Intergovernmental Panel on Climate Change to limit global warming, based on 2019 data.

«Setting the goal for Lear to achieve net zero emissions by 2050 is a significant next step that builds on actions already underway at our company,» said Ray Scott, President and CEO. «We believe designing and manufacturing products with world-class innovation and quality for our customers is compatible with protecting the environment. These efforts go hand in hand.»

To attain net zero emissions by 2050, Lear will increase renewable energy use, improve energy efficiency at facilities, expand engineering efforts for vehicle electrification and lighter weight products, and heighten sustainability requirements for its suppliers. Lear is committing to these actions with an understanding of the potential challenges that are ahead, including the availability of renewable energy, changing directives from local governments, unpredictable financial markets and long-term support from consumers for zero- or low-emission solutions.

«To achieve these goals, we will partner with our customers, suppliers and policymakers to focus on further advancing technologies that reduce carbon emissions,» Scott said. «We will also encourage our employees to contribute to creating a cleaner environment, not only while they are at work, but while they are at home, too.»

The goals to reduce Lear’s carbon footprint are just one aspect of the company’s overall environmental, social and governance (ESG) efforts, as will be highlighted in its upcoming corporate sustainability report. Other highlights include new zero deforestation and human rights policies.

About Lear Corporation
Lear, a global automotive technology leader in Seating and E-Systems, enables superior in-vehicle experiences for consumers around the world. Our diverse team of talented employees in 39 countries is driven by a commitment to innovation, operational excellence, and sustainability. Lear is Making every drive better™ by providing the technology for safer, smarter, and more comfortable journeys. Lear, headquartered in Southfield, Michigan, serves every major automaker in the world and ranks 166 on the Fortune 500. Further information about Lear is available at lear.com, or follow us on Twitter @LearCorporation.

 

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SOURCE Lear Corporation

Ontario International Airport buoyed by freight shipments in September

ONTARIO, Calif., Oct. 14, 2020 /PRNewswire/ — Commercial freight volume at Ontario International Airport (ONT) increased more than 20% in September while the number of air travelers rose to almost 200,000, reflecting a gradual recovery at the Southern California airport in recent months.

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ONTARIO, Calif., Oct. 14, 2020 /PRNewswire/ — Commercial freight volume at Ontario International Airport (ONT) increased more than 20% in September while the number of air travelers rose to almost 200,000, reflecting a gradual recovery at the Southern California airport in recent months.

According to the Ontario International Airport Authority (OIAA), September’s passenger count was more than 195,000, a decrease of 58.4% compared to the same month last year. The number of domestic passengers exceeded 191,000, while international travelers totaled more than 3,500, decreases of 57% and 84.5%, respectively.

Over the first nine months of the year, ONT welcomed 1.9 million passengers. Domestic travel volume was more than 1.8 million, a decrease of 52% compared to the same period in 2019, with the number of international passengers reaching 76,000.

Passenger

Totals

September

2020

September

2019

% Change

YTD

2020

YTD

2019

% Change

Domestic

191,467

446,169

-57.09%

1,840,964

3,838,865

-52.0%

International

3,570

23,155

-84.58%

76,336

223,889

-65.9%

Total

195,037

469,324

-58.44%

1,917,300

4,062,754

-52.8%

«Cargo continues to be a point of strength and pride for us as Ontario enjoys the fastest rate of growth among airports in the continental United States,» said Mark Thorpe, chief executive officer of the OIAA. «And while passenger volumes remain significantly lower year-over-year, Ontario’s rate of recovery puts it third among U.S. airports and first among airports in California

Since reaching its low point in air travel in April following the onset of the coronavirus pandemic, ONT passenger volume has grown on a percentage basis every month between May and September, Thorpe added.

Delta Air Lines began twice-daily, nonstop service to Seattle-Tacoma International Airport this month while international carrier Volaris is planning new service to Mexico City beginning in November.

Meanwhile, Ontario experienced a 22.5% gain in commercial freight volume in September, the sixth month this year of better than 20% growth, with shipments totaling more than 73,000 tons. On a year-to-date basis, freight volume was nearly 645,000 tons, almost 20% more than the January through September period in 2019.

Air cargo

(tonnage)

September

2020

September

2019

% Change

YTD

2020

YTD

2019

% Change

Freight

73,440

59,918

22.57%

644,996

539,062

19.7%

Mail

2,174

1,271

71.01%

15,780

18,221

-13.4%

Total

75,614

61,189

23.57%

660,776

557,283

18.6%

About Ontario International Airport
Ontario International Airport (ONT) is the fastest growing airport in the United States, according to Global Traveler, a leading publication for frequent fliers. Located in the Inland Empire, ONT is approximately 35 miles east of downtown Los Angeles in the center of Southern California. It is a full-service airport which, before the coronavirus pandemic, offered nonstop commercial jet service to 26 major airports in the U.S., Mexico and Taiwan. More information is available at www.flyOntario.comFollow @flyONT on Facebook, Twitter, and Instagram   

About the Ontario International Airport Authority (OIAA)
The OIAA was formed in August 2012 by a Joint Powers Agreement between the City of Ontario and the County of San Bernardino to provide overall direction for the management, operations, development and marketing of ONT for the benefit of the Southern California economy and the residents of the airport’s four-county catchment area. OIAA Commissioners are Ontario City Council Member Alan D. Wapner (President), Retired Riverside Mayor Ronald O. Loveridge (Vice President), Ontario City Council Member Jim W. Bowman (Secretary), San Bernardino County Supervisor Curt Hagman (Commissioner) and retired business executive Julia Gouw (Commissioner).

OIAA Media Contact:
Steve Lambert, (909) 841-7527 slambert@flyontario.com

 

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SOURCE Ontario International Airport

Hertz Ranks No. 1 in Customer Satisfaction for Rental Cars by J.D. Power for Second Consecutive Year

ESTERO, Fla., Oct. 14, 2020 /PRNewswire/ — Hertz today announced that for the second consecutive year it has earned the No. 1 overall ranking for Customer Satisfaction in the <a target="_blank"…

ESTERO, Fla., Oct. 14, 2020 /PRNewswire/ — Hertz today announced that for the second consecutive year it has earned the No. 1 overall ranking for Customer Satisfaction in the J.D. Power 2020 North America Rental Car Satisfaction Study, which surveys leisure and business customers. Hertz also received top honors in the following categories: reservation process, pick-up process and rental car, which includes satisfaction with the overall vehicle and its cleanliness.

«From the beginning of their journey to the end, our customers’ satisfaction is the heartbeat of everything we do,» said Hertz President and CEO Paul Stone. «While the rental car and overall travel industry has faced challenges during the pandemic, I’m grateful to our employees for taking great care of our customers and implementing our enhanced measures that enabled us to continue providing a safe, fast and easy rental experience.»

As traveler needs shifted amid the pandemic, Hertz quickly adapted to meet customer expectations. The car rental brand raised the bar on its already high standards for safety and cleanliness by introducing the Hertz Gold Standard Clean seal. Each vehicle is sealed immediately following a rigorous 15-point cleaning and sanitization process that follows U.S. Centers for Disease Control and Prevention (CDC) guidelines. This is a first-of-its-kind practice in the car rental industry.

To further help customers travel safely and confidently, Hertz launched new capabilities within its mobile app this year to facilitate a touchless rental experience by enabling them to select and purchase more products and services digitally. These enhancements complement the low-touch and touchless solutions that Hertz offers through its Hertz Gold Plus Rewards loyalty program. Gold Plus Rewards members can minimize or eliminate personal contact by skipping the counter at many airports and going straight to their car. When they return, members can drop off their car and go with Hertz’s eReceipt and Express Return service. Hertz Gold Plus Rewards is free to join and benefits are immediately available.

To celebrate its second consecutive J.D. Power No. 1 ranking and thank its customers, Hertz is offering a free car class upgrade for a limited time. Additionally, through December 31, 2020, Hertz will award a free two-day rental to five customers each week who share their positive Hertz experience on social media with a written story, photo or video using #1Hertz. For more details and official rules, visit: Hertz.com/JDPower.

About Hertz

Hertz, one of the most recognized brands in the world and currently ranked #1 in Customer Satisfaction by J.D. Power, has a long-standing legacy of providing a fast and easy experience designed to make every journey special. It starts with top-rated vehicles to fit every traveler’s needs, delivered with a caring touch and personalized services including its award-winning Hertz Gold Plus Rewards loyalty program, Ultimate Choice, Mobile Wi-Fi, and more. Wherever and whenever you need to go, at Hertz, we’re here to get you there. To learn more or reserve a vehicle, visit Hertz.com.   

Hertz pioneered the car rental industry more than 100 years ago and today is owned by Hertz Global Holdings, Inc. which includes Dollar and Thrifty vehicle rental brands and fleet management leader Donlen Corporation.

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SOURCE The Hertz Corporation

Innoviz Technologies Introduces Its Next Generation, InnovizTwo, Which Will Accelerate the Industry Towards Autonomous Driving, Enabling Safe Mobility To All

ROSH HA’AYIN, Israel, Oct .14, 2020 /PRNewswire/ — Innoviz Technologies, a leading provider of high-performance, solid-state LiDAR sensors and perception software, is launching a next-generation sensor to its product line – the InnovizTwo. The new high-performance automotive-grade LiDAR sensor offers a fully featured solution for all levels of autonomous driving at a dramatically lower cost.

<a…

ROSH HA’AYIN, Israel, Oct .14, 2020 /PRNewswire/ — Innoviz Technologies, a leading provider of high-performance, solid-state LiDAR sensors and perception software, is launching a next-generation sensor to its product line – the InnovizTwo. The new high-performance automotive-grade LiDAR sensor offers a fully featured solution for all levels of autonomous driving at a dramatically lower cost.

InnovizTwo will allow more car makers to offer safe L2+, while paving the path to full L3 automation

Although the automotive industry is well on its way to a highly automated future, this realization is still a few years away. Today, even the most advanced L2+1 platforms face technical limitations that result in safety issues, which hinder growth and avoid the opportunity to reach higher levels of automation over time. Only select car manufacturers are able to make the quantum leap needed for offering L32 cars themselves, a process that requires the work of hundreds of engineers over several years of validation, across all driving scenarios, to the point that they are willing to take full liability prior to the launch of a L3 car.

To allow a safer and smoother adoption of automation, the industry will need to introduce L2+ functionality, but with hardware that supports L3 and L43 upon launch. With more and more vehicles effectively equipped, car manufacturers will be able to collect roadway data and release more advanced functions to those same vehicles via over-the-air updates, increasingly adding features to meet L3 and L4. To pursue this strategy, hardware must fulfill more advanced technical requirements, while also coming under the price point of today’s L2 technology.

To allow this vision, Innoviz is now announcing a new generation of its LiDAR, InnovizTwo.

It has always been the industry’s pioneers such as BMW who set the bar for others in the automotive space, introducing the newest, most innovative technologies. As such, in 2018, BMW chose to deploy InnovizOne, Innoviz’s high-end automotive-grade solid-state LiDAR, through Magna as the Tier-1 supplier, as part of its L3-L4 autonomous vehicle program planned to be the first in the market. This clearly signaled Innoviz’s solution as the best fit for mass-produced autonomous vehicles that allow hands-off driving on highways at higher speeds. Nearly three years later, Innoviz is announcing InnovizTwo, a major cost reduction design of over 70% compared to InnovizOne, including a significant performance improvement. Samples of InnovizTwo will be available in Q3 2021.

«We know how difficult it is to introduce a fully validated L3 platform to the marketexplains Omer Keilaf, CEO and co-founder of Innoviz. «Taking such a big step is possible by only a few car manufacturers. We are excited to introduce our next generation product, InnovizTwo, which solves a significant bottleneck in the industry. InnovizTwo will allow more car makers to offer safe L2+, while paving the path to full L3 automation in the most efficient and safe way, eventually enabling the autonomous revolution

Including Innoviz’s high-performance LiDAR and its advanced Perception Software in L2+ platforms will not only bring safer mobility to all, they will also allow the car manufacturers, Tier-1s and Innoviz to collect data through their customer base. While L2+ drivers are still liable for the car drive, new features will continue to be validated, and, later, when safety is statistically proven, the software will be upgraded to full L3 without any hardware change.

Mr. Alejandro Vukotich, former Senior VP of Automated Driving and Driver Assistance Systems at Audi and BMW explains: «Aside from all the technical challenges, it is key to achieve a price point that enables the industry to introduce a commercially viable technology in the market as a L2 system, and then to incrementally validate and verify the L3 in the field before it gets released as a software update. The InnovizTwo is definitely an important and huge milestone in this direction.»

Innoviz’s mission is to provide safe mobility to all. Innoviz’s solutions enable safe autonomy by bringing unparalleled optics, seamless design and cutting-edge software to market. Supported by the knowledge and experience accumulated by the industry’s top talent, Innoviz will continue to spearhead the product roadmap, addressing the key need for safe, affordable autonomous vehicle technology.  

1 L2: Partial Automation. The vehicle can control both steering and accelerating/decelerating, human supervision is always required.

2 L3: High Automation. The vehicle can perform all driving functions under certain circumstances in which no human supervision is required. The driver is required to be able to regain control.

3 L4: Fully Automated. The vehicle can perform all driving tasks in specific geographical areas without requiring human presence.

About Innoviz Technologies

Innoviz is a leading manufacturer of high-performance, solid-state LiDAR sensors and perception software that enable the mass production of autonomous vehicles. Innoviz’s offerings include InnovizOne, an automotive-grade, mass-producible LiDAR sensor, and perception software designed to complement its hardware offerings with advanced AI and machine learning-based classification, detection and tracking features. Innoviz is backed by top-tier strategic partners and investors, including SoftBank Ventures Asia, Samsung, Magna International, Aptiv, Magma Venture Partners, Vertex Ventures, China Merchants Capital (SINO-BLR Industrial Investment Fund, L.P.), 360 Capital Partners, Glory Ventures, Naver, Shenzhen Capital Group, New Alliance Capital, Harel Insurance Investments and Financial Services, Phoenix Insurance Company and others. For more information, visit www.innoviz.tech.

CONTACT: Chelsea Lauber, innoviz@antennagroup.com

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SOURCE Innoviz Technologies

Innoviz Technologies Introduces Its Next Generation, InnovizTwo, Which Will Accelerate the Industry Towards Autonomous Driving, Enabling Safe Mobility To All

ROSH HA’AYIN, Israel, Oct .14, 2020 /PRNewswire/ — Innoviz Technologies, a leading provider of high-performance, solid-state LiDAR sensors and perception software, is launching a next-generation sensor to its product line – the InnovizTwo. The new high-performance automotive-grade LiDAR sensor offers a fully featured solution for all levels of autonomous driving at a dramatically lower cost.

<img id="prnejpgbf8cleft" title="The new InnovizTwo…

ROSH HA’AYIN, Israel, Oct .14, 2020 /PRNewswire/ — Innoviz Technologies, a leading provider of high-performance, solid-state LiDAR sensors and perception software, is launching a next-generation sensor to its product line – the InnovizTwo. The new high-performance automotive-grade LiDAR sensor offers a fully featured solution for all levels of autonomous driving at a dramatically lower cost.

The new InnovizTwo high-performance automotive-grade LiDAR sensor offers a fully featured solution for all levels of autonomous driving at a dramatically lower cost.

Although the automotive industry is well on its way to a highly automated future, this realization is still a few years away. Today, even the most advanced L2+1 platforms face technical limitations that result in safety issues, which hinder growth and avoid the opportunity to reach higher levels of automation over time. Only select car manufacturers are able to make the quantum leap needed for offering L32 cars themselves, a process that requires the work of hundreds of engineers over several years of validation, across all driving scenarios, to the point that they are willing to take full liability prior to the launch of a L3 car.

To allow a safer and smoother adoption of automation, the industry will need to introduce L2+ functionality, but with hardware that supports L3 and L43 upon launch. With more and more vehicles effectively equipped, car manufacturers will be able to collect roadway data and release more advanced functions to those same vehicles via over-the-air updates, increasingly adding features to meet L3 and L4. To pursue this strategy, hardware must fulfill more advanced technical requirements, while also coming under the price point of today’s L2 technology.

To allow this vision, Innoviz is now announcing a new generation of its LiDAR, InnovizTwo.

It has always been the industry’s pioneers such as BMW who set the bar for others in the automotive space, introducing the newest, most innovative technologies. As such, in 2018, BMW chose to deploy InnovizOne, Innoviz’s high-end automotive-grade solid-state LiDAR, through Magna as the Tier-1 supplier, as part of its L3-L4 autonomous vehicle program planned to be the first in the market. This clearly signaled Innoviz’s solution as the best fit for mass-produced autonomous vehicles that allow hands-off driving on highways at higher speeds. Nearly three years later, Innoviz is announcing InnovizTwo, a major cost reduction design of over 70% compared to InnovizOne, including a significant performance improvement. Samples of InnovizTwo will be available in Q3 2021.

«We know how difficult it is to introduce a fully validated L3 platform to the market,» explains Omer Keilaf, CEO and co-founder of Innoviz. «Taking such a big step is possible by only a few car manufacturers. We are excited to introduce our next generation product, InnovizTwo, which solves a significant bottleneck in the industry. InnovizTwo will allow more car makers to offer safe L2+, while paving the path to full L3 automation in the most efficient and safe way, eventually enabling the autonomous revolution.»

Including Innoviz’s high-performance LiDAR and its advanced Perception Software in L2+ platforms will not only bring safer mobility to all, they will also allow the car manufacturers, Tier-1s and Innoviz to collect data through their customer base. While L2+ drivers are still liable for the car drive, new features will continue to be validated, and, later, when safety is statistically proven, the software will be upgraded to full L3 without any hardware change.

Mr. Alejandro Vukotich, former Senior VP of Automated Driving and Driver Assistance Systems at Audi and BMW explains: «Aside from all the technical challenges, it is key to achieve a price point that enables the industry to introduce a commercially viable technology in the market as a L2 system, and then to incrementally validate and verify the L3 in the field before it gets released as a software update. The InnovizTwo is definitely an important and huge milestone in this direction.»

Innoviz’s mission is to provide safe mobility to all. Innoviz’s solutions enable safe autonomy by bringing unparalleled optics, seamless design and cutting-edge software to market. Supported by the knowledge and experience accumulated by the industry’s top talent, Innoviz will continue to spearhead the product roadmap, addressing the key need for safe, affordable autonomous vehicle technology.  

1 L2: Partial Automation. The vehicle can control both steering and accelerating/decelerating, human supervision is always required.

2 L3: High Automation. The vehicle can perform all driving functions under certain circumstances in which no human supervision is required. The driver is required to be able to regain control.

3 L4: Fully Automated. The vehicle can perform all driving tasks in specific geographical areas without requiring human presence.

About Innoviz Technologies

Innoviz is a leading manufacturer of high-performance, solid-state LiDAR sensors and perception software that enable the mass production of autonomous vehicles. Innoviz’s offerings include InnovizOne, an automotive-grade, mass-producible LiDAR sensor, and perception software designed to complement its hardware offerings with advanced AI and machine learning-based classification, detection and tracking features. Innoviz is backed by top-tier strategic partners and investors, including SoftBank Ventures Asia, Samsung, Magna International, Aptiv, Magma Venture Partners, Vertex Ventures, China Merchants Capital (SINO-BLR Industrial Investment Fund, L.P.), 360 Capital Partners, Glory Ventures, Naver, Shenzhen Capital Group, New Alliance Capital, Harel Insurance Investments and Financial Services, Phoenix Insurance Company and others. For more information, visit www.innoviz.tech.

CONTACT: Chelsea Lauber, innoviz@antennagroup.com

Photo – https://mma.prnewswire.com/media/1311902/Innoviz_Technologies_InnovizTwo_LiDAR_Sensor.jpg

Automotive Piston Pin Market worth $314 million by 2025 – Exclusive Report by MarketsandMarkets™

CHICAGO, Oct. 14, 2020 /PRNewswire/ — According to the new market research report «Automotive Piston Pin Market by Vehicle Type (Passenger Car, LCV, HCV, and Agricultural), Fuel (Diesel, Gasoline, and Alternative Fuel), Material (Steel and Aluminum & Titanium), Coating Type,…

CHICAGO, Oct. 14, 2020 /PRNewswire/ — According to the new market research report «Automotive Piston Pin Market by Vehicle Type (Passenger Car, LCV, HCV, and Agricultural), Fuel (Diesel, Gasoline, and Alternative Fuel), Material (Steel and Aluminum & Titanium), Coating Type, Sales Channel, and Region – Forecast to 2025″, published by MarketsandMarkets™, the Global Piston Pin Market size is projected to grow from USD 259 million in 2020 to reach USD 314 million by 2025, at a CAGR of 4.0%.The growth of the piston pin market can be attributed to the substantial production and sales volumes of ICE vehicles across the world. Also, significant demand for high-performance vehicles that require large engines and the growing trend of CNG, LNG, hybrid, and plug-in hybrid vehicles to drive the market for piston pins during the forecast.

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Browse in-depth TOC on «Automotive Piston Pin Market»
156 – Tables
58 – Figures
188 – Pages

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id= 109923508

Asia Pacific is expected to be the largest as well as the fastest-growing market in the forecast

Asia Pacific is projected to be the largest and the fastest-growing piston pin market during the forecast period. As the region is the largest market for small passenger cars, backed by the strong demand in the automotive industry. The growth of the passenger car segment will positively influence the piston pin market in the region. The vast automotive production capacity of countries such as China, Japan, India, and South Korea is primarily driving the region’s piston pin market. Also, the region is home to many renowned piston pin manufacturers such as Bohai Automotive Systems, Ming Shun Industrial, Shriram Pistons, and Art Metal.

North America is expected to be the second-fastest-growing market during the forecast

The North American piston pin market is expected to be the fastest. The North American automotive industry is the only industry where LCVs form a significant market share. LCVs, due to their versatility and practicality, has been the vehicle of choice for the average American buyer over the years. The growth of small-scale businesses has also played a vital role in the rising demand for these vehicles in the region. The US is the largest market in the region (accounts for over 68% of the overall market). It is followed by Mexico and Canada. The sales statistics indicate a promising growth potential, particularly for pickup trucks and SUVs, which dominate the market. With the growth in the production of LCVs, the market for piston pins is also expected to grow in North America in the coming years.

Request FREE Sample Report:
https://www.marketsandmarkets.com/requestsampleNew.asp?id= 109923508  

The gasoline segment is expected to be the largest fuel segment in the forecast

The gasoline segment is projected to have the largest share of the piston pin market during the forecast. The growth of the gasoline segment can be attributed to the growing preference over diesel engines due to the strict emission standards across the world. Also, the life of gasoline engines is almost double than that of diesel engines. Gasoline engines require less maintenance. On the other hand, diesel engines require servicing/maintenance of the components after ~5,000–6,000 km. In the aftermarket, gasoline vehicles require minimal replacement of components. However, in the case of diesel engines, components of the piston system get replaced more often. All these factors have contributed to the demand for gasoline passenger vehicles.

The key players operating in the Automotive Piston Pin Market include Burgess Norton (US), Tenneco (US), MAHLE (Germany), Art Metal (Japan), and Rheinmetall Corporation (Germany).

Browse Related Reports:

Automotive Piston Market by Component (Piston, Piston Ring, Piston Pin), Material (Steel, Aluminum), Coating Type (Dry Film Lubricants, Thermal Barriers, Oil Shedding), Piston Shape, Vehicle & Fuel Type, Aftermarket and Region – Global Forecast to 2025

Automotive Pump Market by Type (Fuel Pump, Water Pump, Vacuum Pump, Fuel Injection Pump, Steering Pump, & Headlight Washer Pump), Technology, Displacement, Vehicle Application, Electric Vehicle & Region – Global Forecast to 2025

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the «Growth Engagement Model – GEM». The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write «Attack, avoid and defend» strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, «Knowledge Store» connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/automotive-piston-pin-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/automotive-piston-pin.asp

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Automotive Piston Pin Market worth $314 million by 2025 – Exclusive Report by MarketsandMarkets™

CHICAGO, Oct. 14, 2020 /PRNewswire/ — According to the new market research report «Automotive Piston Pin Market by Vehicle Type (Passenger Car, LCV, HCV, and Agricultural), Fuel (Diesel, Gasoline, and Alternative Fuel), Material (Steel and Aluminum & Titanium), Coating Type,…

CHICAGO, Oct. 14, 2020 /PRNewswire/ — According to the new market research report «Automotive Piston Pin Market by Vehicle Type (Passenger Car, LCV, HCV, and Agricultural), Fuel (Diesel, Gasoline, and Alternative Fuel), Material (Steel and Aluminum & Titanium), Coating Type, Sales Channel, and Region – Forecast to 2025″, published by MarketsandMarkets™, the Global Piston Pin Market size is projected to grow from USD 259 million in 2020 to reach USD 314 million by 2025, at a CAGR of 4.0%.The growth of the piston pin market can be attributed to the substantial production and sales volumes of ICE vehicles across the world. Also, significant demand for high-performance vehicles that require large engines and the growing trend of CNG, LNG, hybrid, and plug-in hybrid vehicles to drive the market for piston pins during the forecast.

MarketsandMarkets Logo

Browse in-depth TOC on «Automotive Piston Pin Market»
156 – Tables
58 – Figures
188 – Pages

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id= 109923508

Asia Pacific is expected to be the largest as well as the fastest-growing market in the forecast

Asia Pacific is projected to be the largest and the fastest-growing piston pin market during the forecast period. As the region is the largest market for small passenger cars, backed by the strong demand in the automotive industry. The growth of the passenger car segment will positively influence the piston pin market in the region. The vast automotive production capacity of countries such as China, Japan, India, and South Korea is primarily driving the region’s piston pin market. Also, the region is home to many renowned piston pin manufacturers such as Bohai Automotive Systems, Ming Shun Industrial, Shriram Pistons, and Art Metal.

North America is expected to be the second-fastest-growing market during the forecast

The North American piston pin market is expected to be the fastest. The North American automotive industry is the only industry where LCVs form a significant market share. LCVs, due to their versatility and practicality, has been the vehicle of choice for the average American buyer over the years. The growth of small-scale businesses has also played a vital role in the rising demand for these vehicles in the region. The US is the largest market in the region (accounts for over 68% of the overall market). It is followed by Mexico and Canada. The sales statistics indicate a promising growth potential, particularly for pickup trucks and SUVs, which dominate the market. With the growth in the production of LCVs, the market for piston pins is also expected to grow in North America in the coming years.

Request FREE Sample Report:
https://www.marketsandmarkets.com/requestsampleNew.asp?id= 109923508  

The gasoline segment is expected to be the largest fuel segment in the forecast

The gasoline segment is projected to have the largest share of the piston pin market during the forecast. The growth of the gasoline segment can be attributed to the growing preference over diesel engines due to the strict emission standards across the world. Also, the life of gasoline engines is almost double than that of diesel engines. Gasoline engines require less maintenance. On the other hand, diesel engines require servicing/maintenance of the components after ~5,000–6,000 km. In the aftermarket, gasoline vehicles require minimal replacement of components. However, in the case of diesel engines, components of the piston system get replaced more often. All these factors have contributed to the demand for gasoline passenger vehicles.

The key players operating in the Automotive Piston Pin Market include Burgess Norton (US), Tenneco (US), MAHLE (Germany), Art Metal (Japan), and Rheinmetall Corporation (Germany).

Browse Related Reports:

Automotive Piston Market by Component (Piston, Piston Ring, Piston Pin), Material (Steel, Aluminum), Coating Type (Dry Film Lubricants, Thermal Barriers, Oil Shedding), Piston Shape, Vehicle & Fuel Type, Aftermarket and Region – Global Forecast to 2025

Automotive Pump Market by Type (Fuel Pump, Water Pump, Vacuum Pump, Fuel Injection Pump, Steering Pump, & Headlight Washer Pump), Technology, Displacement, Vehicle Application, Electric Vehicle & Region – Global Forecast to 2025

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the «Growth Engagement Model – GEM». The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write «Attack, avoid and defend» strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, «Knowledge Store» connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/automotive-piston-pin-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/automotive-piston-pin.asp

Cision View original content:http://www.prnewswire.com/news-releases/automotive-piston-pin-market-worth-314-million-by-2025–exclusive-report-by-marketsandmarkets-301152024.html

SOURCE MarketsandMarkets

Automotive Piston Pin Market worth $314 million by 2025 – Exclusive Report by MarketsandMarkets™

CHICAGO, Oct. 14, 2020 /PRNewswire/ — According to the new market research report «Automotive Piston Pin Market by Vehicle Type (Passenger Car, LCV, HCV, and Agricultural), Fuel (Diesel, Gasoline, and Alternative Fuel), Material (Steel and Aluminum & Titanium), Coating Type,…

CHICAGO, Oct. 14, 2020 /PRNewswire/ — According to the new market research report «Automotive Piston Pin Market by Vehicle Type (Passenger Car, LCV, HCV, and Agricultural), Fuel (Diesel, Gasoline, and Alternative Fuel), Material (Steel and Aluminum & Titanium), Coating Type, Sales Channel, and Region – Forecast to 2025″, published by MarketsandMarkets™, the Global Piston Pin Market size is projected to grow from USD 259 million in 2020 to reach USD 314 million by 2025, at a CAGR of 4.0%.The growth of the piston pin market can be attributed to the substantial production and sales volumes of ICE vehicles across the world. Also, significant demand for high-performance vehicles that require large engines and the growing trend of CNG, LNG, hybrid, and plug-in hybrid vehicles to drive the market for piston pins during the forecast.

MarketsandMarkets Logo

Browse in-depth TOC on «Automotive Piston Pin Market»
156 – Tables
58 – Figures
188 – Pages

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id= 109923508

Asia Pacific is expected to be the largest as well as the fastest-growing market in the forecast

Asia Pacific is projected to be the largest and the fastest-growing piston pin market during the forecast period. As the region is the largest market for small passenger cars, backed by the strong demand in the automotive industry. The growth of the passenger car segment will positively influence the piston pin market in the region. The vast automotive production capacity of countries such as China, Japan, India, and South Korea is primarily driving the region’s piston pin market. Also, the region is home to many renowned piston pin manufacturers such as Bohai Automotive Systems, Ming Shun Industrial, Shriram Pistons, and Art Metal.

North America is expected to be the second-fastest-growing market during the forecast

The North American piston pin market is expected to be the fastest. The North American automotive industry is the only industry where LCVs form a significant market share. LCVs, due to their versatility and practicality, has been the vehicle of choice for the average American buyer over the years. The growth of small-scale businesses has also played a vital role in the rising demand for these vehicles in the region. The US is the largest market in the region (accounts for over 68% of the overall market). It is followed by Mexico and Canada. The sales statistics indicate a promising growth potential, particularly for pickup trucks and SUVs, which dominate the market. With the growth in the production of LCVs, the market for piston pins is also expected to grow in North America in the coming years.

Request FREE Sample Report:
https://www.marketsandmarkets.com/requestsampleNew.asp?id= 109923508  

The gasoline segment is expected to be the largest fuel segment in the forecast

The gasoline segment is projected to have the largest share of the piston pin market during the forecast. The growth of the gasoline segment can be attributed to the growing preference over diesel engines due to the strict emission standards across the world. Also, the life of gasoline engines is almost double than that of diesel engines. Gasoline engines require less maintenance. On the other hand, diesel engines require servicing/maintenance of the components after ~5,000–6,000 km. In the aftermarket, gasoline vehicles require minimal replacement of components. However, in the case of diesel engines, components of the piston system get replaced more often. All these factors have contributed to the demand for gasoline passenger vehicles.

The key players operating in the Automotive Piston Pin Market include Burgess Norton (US), Tenneco (US), MAHLE (Germany), Art Metal (Japan), and Rheinmetall Corporation (Germany).

Browse Related Reports:

Automotive Piston Market by Component (Piston, Piston Ring, Piston Pin), Material (Steel, Aluminum), Coating Type (Dry Film Lubricants, Thermal Barriers, Oil Shedding), Piston Shape, Vehicle & Fuel Type, Aftermarket and Region – Global Forecast to 2025

Automotive Pump Market by Type (Fuel Pump, Water Pump, Vacuum Pump, Fuel Injection Pump, Steering Pump, & Headlight Washer Pump), Technology, Displacement, Vehicle Application, Electric Vehicle & Region – Global Forecast to 2025

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the «Growth Engagement Model – GEM». The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write «Attack, avoid and defend» strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, «Knowledge Store» connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/automotive-piston-pin-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/automotive-piston-pin.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg