Innoviz Technologies Ltd. (NASDAQ:INVZ) is one of the best lidar stocks to buy right now, receiving a boost by being selected by a major commercial vehicle manufacturer for supplying lidar units for SAE Level 4 autonomous class-8 semi-trucks. Analysts project a 129% revenue growth due to the contract.

Innoviz Technologies Ltd. develops high-performance lidar sensors for automotive and autonomous vehicle industries, enabling safe autonomous driving. The company was selected for its high-resolution sensing capabilities that aid autonomous vehicles in detecting and responding to their surroundings, impacting its expansion plans significantly.

CEO Omer Keilaf stated that winning the L4 program with a major truck manufacturer is a milestone showcasing Innoviz’s ability to scale across sectors. The deal involves supplying InnovizTwo sensors for the manufacturer’s data collection trucking fleet and developing software modifications to meet vehicle integration requirements.

Read more at Yahoo Finance: Innoviz Technologies Ltd. (INVZ) Inks Deal with Commercial Vehicle Manufacturer