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Innoviz Technologies Ltd

Luminar CFO defends lidar maker’s pricing and revenue

A Mercedes-Benz van retrofitted with different types of lidar systems, including Luminar's Iris, to showcase the differences in the technologies.Michael Wayland / CNBCLidar maker Luminar Technologies, stung by a recent Wall Street downgrade, is responding in an unusual way: taking its case directly to the shareholders.In a letter seen by CNBC on Friday morning, Luminar CFO Tom Fennimore – himself a former Goldman Sachs managing director – takes issue with arguments made in a bearish note by Goldman analyst Mark Delaney…

Electric and autonomous vehicle ETF falls 15% in September

GMC vehicles sit on display at the Sterling McCall Buick GMC dealership on February 02, 2022 in Houston, Texas.Brandon Bell | Getty ImagesA key ETF for electric and autonomous vehicle stocks suffered an ugly month in September, falling nearly 15% amid fears a recession could slow revenue for the automakers. The Global X Autonomous and Electric Vehicles ETF closed on Friday at about $20, more than 37% off the group's 52-week high. It was the second worst-performing month for the group on a percentage basis on record,…

Innoviz wins $4 billion dollar Volkswagen lidar contract

In this photo illustration a Innoviz Technologies logo is displayed on a smartphone.Rafael Henrique | SOPA Images | Lightrocket | Getty ImagesIsraeli lidar maker Innoviz announced Tuesday it has won a contract to supply lidar units and related software for autonomous driving to a unit of Volkswagen, in a deal worth $4 billion in sales over eight years.Under the deal, Volkswagen will incorporate Innoviz's latest automotive lidar unit and its proprietary perception software into vehicles across its portfolio.The deal will…