Israel-based autonomous driving technology company Mobileye today announced its second-quarter revenue of $ 454 million (currently about RMB 3.246 billion), higher than the previous analysts expected $ 450.6 million (currently about RMB 3.222 billion).
▲ Source Mobileye’s official website
Mobileye, whose current customers include BMW, Nissan and Volkswagen, beat second-quarter estimates on the back of strong demand for its driving technology in North America and Europe, which offset the current weakness in China.
Analysts said Mobileye’s shipments in 2023-2024 will be driven primarily by Geely’s Polar Kryptonite cars, but Mobileye’s ongoing channel expansion could also be a positive catalyst for its results.
As a result of this news, Mobileye’s stock price rose 2% in the U.S. pre-market trading session.
Mobileye recently announced in Jerusalem the launch of the world’s first automotive-grade pure vision Intelligent Speed Assist solution. Officially, this is the first solution to meet the requirements of the new EU regulations and is scheduled for mass production in the fourth quarter of this year.
