Innoviz is pleased to announce today, after years of development and rigorous testing, the ramp-up towards high-volume automotive-grade fully automated production of InnovizOne, which will serve the BMW series production, among other customers, and is expected to provide meaningful future revenues. In parallel, the Company will continue the introduction of the new generation LiDAR InnovizTwo to the market, which is expected to result in further significant cost reduction and performance improvements in order to accelerate the adoption of safe mobility in all types of cars. Innoviz will continue to collect data and develop new computer vision features for InnovizAPP – the new Automotive Perception Platform. With these developments, Innoviz will further expand the technology gap in the market and strengthen its leadership position on high-performance, cost effective solid-state LiDAR sensors and perception software for the autonomous driving market and others.