Magna Wins LiDAR Business With BMW Group

• ?One of the first serial production contracts for solid-state LiDAR
• Supports up to L4 and L5 self-driving systems across multiple vehicle platforms
• Solid-state LiDAR from Innoviz Technologies meets automotive standards in a compact size and at a competitive cost
  

AURORA, Ontario, April 26, 2018 (GLOBE NEWSWIRE) -- On the road to developing autonomous technologies, perhaps nothing is more important than the vehicle being able to see the world around it. To help meet this challenge, Magna and its partner, Innoviz Technologies, will supply the BMW Group with solid-state LiDAR for upcoming autonomous vehicle production platforms.

The new-business award, one of the first in the auto industry to include solid-state LiDAR for serial production, underscores Magna's ability to support customers with flexible, scalable solutions and transform innovative technologies into automotive-grade products. While Magna has demonstrated via MAX4 the capability to develop a complete autonomous platform, it can also support customers by providing various building blocks of the overall system as in this case with BMW.

"We value the opportunity to support a premier brand such as BMW with our innovative technologies in sensors and systems," said Kelei Shen, president of Magna Electronics. "Our strong system capability and expertise at the fundamental vehicle architecture level gives us the ability to provide scalable solutions for different levels of autonomy."

Recognizing that LiDAR is one of the critical enablers to achieve the desired levels of performance and overall safety, Magna collaborated with Israeli LiDAR provider Innoviz Technologies to integrate automotive-grade, solid-state LiDAR into its autonomous driving platform. LiDAR, Magna's ICON RADAR and other sensors and systems within its MAX 4 provide a base platform for OEM products and mobility platforms of the future.

This solid-state high-resolution LiDAR technology generates a 3D point cloud in real time of the vehicle's surroundings, even in challenging settings such as direct sunlight, varying weather conditions and multi-LiDAR environments. In addition, the solution provides a complete computer vision software stack and algorithms to turn 3D vision into critical driving insights.  The Magna/Innoviz comprehensive sensing solution delivers on critical needs including performance, cost, and compact size.

"BMW is setting a high standard in autonomous vehicles development, and their vote of confidence in our LiDAR demonstrates how advanced our technology is," said Omer Keilaf, co-founder and CEO of Innoviz. "The Innoviz and Magna teams collaborated to meet BMW requirements in quality and validation plans, and functional safety. Automakers have been looking for a LiDAR technology provider to deliver a mass-market solution, and we are proud to see our product coming to series production".

Magna has been developing and manufacturing advanced driver assistance systems (ADAS) products for automakers for more than 15 years. In August 2017 it unveiled MAX4, a fully integrated, customizable and scalable platform that can enable up to Level 4 autonomous driving in both urban and highway environments. MAX4 contains the sensing and computing building blocks ? including RADAR, LiDAR, cameras and ultrasonic sensors, as well as an ADAS central computing module ? which can be supplied in part or as a whole system to meet customer needs and market readiness.

TAGS
Autonomous vehicles, LiDAR, self-driving cars, sensor fusion

MAGNA INVESTOR CONTACT
Louis Tonelli, Vice-President, Investor Relations
[email protected], 905.726.7035

MAGNA MEDIA CONTACT
Tracy Fuerst, Global Director of Corporate Communications & PR
[email protected], 248.631.5396

INNOVITZ MEDIA CONTACT
Matt McAllister, Fluid PR & Communications
[email protected], 510.229.9707

ABOUT MAGNA
We have more than 168,000 entrepreneurial-minded employees dedicated to delivering mobility solutions. We are a technology company and one of the world's largest automotive suppliers with 335 manufacturing operations and 96 product development, engineering and sales centres in 28 countries. Our competitive capabilities include body exteriors and structures, power and vision technologies, seating systems and complete vehicle solutions.  Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA).  For further information about Magna, visit www.magna.com.

ABOUT INNOVIZ TECHNOLOGIES
Innoviz is a leading provider of cutting-edge LiDAR remote sensing solutions to enable the mass commercialization of autonomous vehicles. The company's LiDAR products deliver superior performance at the cost and size required for mass market adoption. Available now, InnovizProtm offers unrivaled angular resolution at the highest frame rate of any LiDAR solution currently on the market. The company's automotive-grade LiDAR offering a comprehensive mass-market solution, InnovizOnetm, will be available in 2019. Headquartered in Israel, the company was founded in January 2016 by former members of the elite technological unit of the Israeli Defense Forces with renowned expertise in the fields of electro-optics, computer vision, MEMS design and signal processing. Innoviz is backed by strategic partners and top-tier investors including Aptiv (Delphi Automotive), Magna International, Samsung Catalyst, SoftBank Ventures Korea, 360 Capital Partners, Glory Ventures, Naver and others. For more information, visit www.innoviz.tech.

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