Innoviz Technologies Partners with Fabrinet to Launch InnovizTwo Mass Production

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Innoviz has selected Fabrinet as its manufacturing partner for the InnovizTwo LiDAR platform
Fabrinet's expertise in automotive-grade manufacturing will enable Innoviz to scale production to volume efficiently and cost-effectively
Fabrinet's facility has passed rigorous audits by several global leading automotive OEMs

TEL AVIV, Israel, April 22, 2025 /PRNewswire/ -- Innoviz Technologies Ltd. (Nasdaq: INVZ) (the "Company" or "Innoviz"), a leading Tier-1 supplier of high-performance, automotive-grade LiDAR sensors and perception software, announced today its strategic partnership with Fabrinet (NYSE: FN), a leading provider of advanced optical packaging and precision optical, electro-mechanical, and electronic manufacturing services. Fabrinet will act as the chosen manufacturing partner for the InnovizTwo LiDAR product platform, encompassing both the InnovizTwo Long-Range and InnovizTwo Short- to Mid-Range LiDAR solutions. The agreement with Fabrinet comes after Fabrinet's facility passed rigorous audits by several global leading automotive OEMs (Original Equipment Manufacturer) under the German automotive VDA 6.3 standard.

"We are excited to partner with Fabrinet, whose world-class manufacturing expertise enables us to bring the InnovizTwo product platform to mass production," said Omer Keilaf, CEO and Co-Founder of Innoviz Technologies. "We believe that by leveraging Fabrinet's capabilities, we can meet customer demands faster, while meeting the highest automotive-grade standards."

"Fabrinet is thrilled to support Innoviz in reaching this significant milestone of mass-producing the InnovizTwo and industrializing the Company's cutting-edge LiDAR technology," said Harpal Gill, President and Chief Operation Officer of Fabrinet. "Our relationship with Innoviz reinforces Fabrinet's position as a leading contract manufacturer of complex products for the automotive industry."

Fabrinet brings deep expertise in manufacturing services for complex products, seamlessly transforming customer-provided designs and bills of materials into full-scale production. Under the agreement, Fabrinet's facility will provide end-to-end manufacturing for both the InnovizTwo Long-Range and InnovizTwo Short- to Mid-Range LiDARs. Fabrinet's global footprint of manufacturing sites spread across the United States and Asia enables Innoviz to scale production to volume efficiently and cost-effectively to meet the demands of current and future customers. Partnering with Fabrinet is expected to enable Innoviz to focus on its core strength of designing cutting-edge LiDAR technology, while benefiting from Fabrinet's manufacturing proficiency, and offering automotive OEMs automotive-grade, high-performance products in volume and at a compelling price point.

About Innoviz

Innoviz is a global leader in LiDAR technology, serving as a Tier-1 supplier to the world's leading automotive manufacturers and working towards a future with safe autonomous vehicles on the world's roads. Innoviz's LiDAR and perception software "see" better than a human driver and reduce the possibility of error, meeting the automotive industry's strictest expectations for performance and safety. Operating across the U.S., Europe, and Asia, Innoviz has been selected by internationally recognized premium car brands for use in consumer vehicles as well as by other commercial and industrial leaders for a wide range of use cases. For more information, visit innoviz.com.

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Forward Looking Statements

This announcement contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding Innoviz's expectations, plans, and future prospects related to the strategic partnership with Fabrinet, the anticipated scaling of production, the economic benefits of the partnership and Fabrinet's compliance with the highest automotive-grade standards. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this announcement including but not limited to, the ability to implement business plans, forecasts, and other expectations, and our expectations regarding the impact of the evolving conflict in Israel to our ongoing operations. The foregoing list is not exhaustive. You should carefully consider such risk and the other risks and uncertainties described in Innoviz's annual report on Form 20-F for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission ("SEC") on March 12, 2025, and other documents filed by Innoviz from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Innoviz assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Innoviz gives no assurance that it will achieve its expectations.