Innoviz Technologies, a supplier of high-performance LiDAR sensors and performance software, has announced a new direct supply deal with one of the world’s largest OEMs. Through the deal, which will increase the firm’s total order book by $4 billion to $6.6 billion, Innoviz will directly supply LiDAR across the OEM’s brand portfolio.

While the OEM at the center of the deal has not yet been revealed, Innoviz has confirmed that more information will be provided during its upcoming quarterly earnings call. The collaboration itself will span eight years, beginning from 2025. Innoviz’s announcement follows the company going public at a valuation of $1.4 billion through a SPAC merger with the Collective Growth Corporation in 2021. To date, it has formed partnerships with major automotive companies around the world – including the BMW Group, Magna International, and Aptiv.