Innoviz and Ascendtek partner to grow LiDAR sales
LiDAR sensor specialist Innoviz Technologies has signed a distribution agreement with Ascendtek Electronics, a provider of advanced electronic systems, to drive sales of the company's LiDAR solutions throughout the Greater China region.
Ascendtek intends to promote Innoviz's LiDAR to its customers, aiming to accelerate the adoption of the company's LiDAR solutions globally, by strengthening Innoviz's market presence across the Asia-Pacific region
"We are pleased to partner with Ascendtek to distribute our LiDAR solutions. Innoviz continues to disrupt and lead the LiDAR space, and working with our distributor partners to help support our global growth is extremely important to us," says Tali Chen, Chief Business Officer at Innoviz, in a press release. "We expect that Ascendtek's strong Greater China region customer base and reach across various markets and industries, paired with its deep technical understanding of cutting-edge semiconductor-based products, will help Innoviz meet the growing demand for high-performance LiDAR solutions throughout the region."
According to Mordor Intelligence, the Asia-Pacific LiDAR market is expected to grow at a compounded annual growth rate of approximately 32.39% over the next 3 years.
"Ascendtek is one of the top distributors of advanced electronics to the Greater China automotive industry," adds Philip Hsu, Chairman of Ascendtek Electronics Inc. "We proudly offer our clients the most cutting-edge technologies, and our partnership with Innoviz is expected to help us provide more complete and industry-leading solutions for autonomous driving systems. Together with Innoviz, we look forward to developing more opportunities in both automotive and non-automotive sectors across the Greater China region."