Innoviz Technologies (INVZ) stock rose 6.63% in pre-market trading after Mobileye Global (MBLY) announced a partnership with the company to advance autonomous driving systems. This collaboration could potentially boost the company’s revenues as it expands its footprint in the self-driving vehicle market. Mobileye is a provider of autonomous and driver-assistance technologies, while Innoviz is a provider of automotive-grade LiDAR sensors.
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Innoviz Will Supply Lidar Sensors from 2026
Starting in 2026, Innoviz will supply its LiDAR sensors to Mobileye. LiDAR sensors are laser-based sensors that enable autonomous vehicles to detect their surroundings, providing the foundation for both advanced driver-assist features and fully autonomous systems.
According to a Bloomberg report, citing Innoviz’s CEO Omer Keilaf, the company anticipates that this deal will place its sensors on around 100,000 vehicles annually within a “few years.” Furthermore, Keilaf stated that autonomous shuttles present a particularly lucrative opportunity, as they require up to nine sensors per vehicle, more than the one or two sensors typically used in private cars with driver-assist features.
Mobileye Has Shifted Focus from Lidar Development
This partnership follows Mobileye’s announcement in September that it will shut down its in-house LiDAR development program by the end of this year. Instead, the Intel (INTC)-owned company plans to concentrate on radar sensors.
Is MBLY a Good Buy?
Analysts remain cautiously optimistic about MBLY stock, with a Moderate Buy consensus rating based on 10 Buys, five Holds, and three Sells. Over the past year, MBLY has declined by more than 50%, and the average MBLY price target of $18 implies an upside potential of 5.6% from current levels.
