Lidar Startup Innoviz Jumps After Pact With Undisclosed Carmaker
Shares of Innoviz Technologies Ltd., an Israeli lidar startup that went public last year in a reverse merger, jumped the most in five months after it said it won a production contract from one of the world’s largest carmakers.
The deal is poised to add $4 billion to Innoviz’s order book, according to a statement Monday. The sensor manufacturer didn’t disclose the name of the company, saying that it would “elaborate further” on the pact during a May 11 earnings call.