It is learned that in the future, the Audi, Bentley, Lamborghini and Porsche brands of the Volkswagen Group will use these technologies to quickly introduce new high-end driving functions. These include advanced assistance systems for motorway and city driving, such as automatic overtaking on multi-lane highways in permitted areas and conditions, as well as automatic parking at red lights and stop signs, as well as at intersections and roundabouts. support. In addition, Mobileye will also provide more autonomous driving technology components for Volkswagen commercial vehicles.

In the long term, the Volkswagen Group aims to rely on its own complete in-house systems: partnerships with Bosch, Qualcomm and China Horizon will continue. All driver assistance systems will be based on a software architecture developed by Volkswagen CARIAD.

Mobileye said it will also offer driving functionality technology with Level 2 capabilities (“partially autonomous driving”) within the Volkswagen Group in the future. Depending on its operating design area, drivers will be allowed to take their hands off the steering wheel but must maintain attention to traffic and be ready to intervene at any time.

Additionally, Volkswagen is working with Mobileye to develop L3 capabilities (“advanced autonomous driving”). At this level, the vehicle will be able to temporarily take over driving duties in a designated area; the driver will not need to constantly monitor the system. Volkswagen and Mobileye are working together to develop these technologies into cross-brand systems.

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The scope of the project cooperation is wide-ranging and covers Mobileye’s unique innovative software tools, ensuring that each brand can provide users with a highly customized and personalized driving experience. These high-end ADAS and autonomous driving solutions are expected to be mounted on multiple vehicle platforms, involve sales in multiple regions, different powertrain types, and can be easily expanded to other vehicle models based on demand.

Mobileye will cooperate with various brands as a Tier 1 supplier, using AI-driven panoramic computer vision and radar technology to develop “hands-off” new autonomous driving services based on the Mobileye SuperVision platform. These services can realize autonomous pilot assistance functions on highways, rural and urban roads within specific operating design domains, and are expected to be launched in multiple markets and regions starting in 2026.

Mobileye will also cooperate with these automobile brands to install the Mobileye Chauffeur platform in some models to provide high-end driving assistance solutions that can be used in specific operating design domains. Mobileye integrates this system based on the Mobileye SuperVision platform by adding another independent perception system, leveraging radar and lidar sensor output, and adding additional computing power as needed, providing automakers with a naturally scalable Upgrade path.

The two companies also agreed to put fully autonomous vehicles into mass production. The project will be powered by the Mobileye Drive platform and is designed to specifically produce vehicles for Robotaxi mobility services (MaaS). Vehicles equipped with Mobileye Drive make full use of computer vision, lidar and Mobileye imaging radar, and are expected to be mass-produced as early as 2026. All systems will be equipped with the Mobileye EyeQ 6H system integrated chip, which is designed for powerful and efficient computing to integrate all sensing and REM technologies and combine it with safety control algorithms.

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▲ 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.

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The SuperVision platform combines CMOS, LIDAR, driver monitoring sensors and the EyeQ 6 processor that processes the data input from the sensors. Mobileye calls the SuperVision platform a bridge to consumer-grade self-driving vehicles and is optimistic that SuperVision will be a driving force for the company by 2023. Mobileye calls the SuperVision platform a bridge to consumer-grade autonomous vehicles and expects SuperVision to be a major driver of growth for the company by 2023.

As previously reported, Geely Group’s three sub-brands plan to launch electric models equipped with the SuperVision platform globally starting in 2023, and in the future, through OTA upgrades, users of the Extreme Krypton 001 will be able to unlock the full functionality of SuperVision. Mobileye said it expects the number of vehicles with the SuperVision platform to reach 1.2 million by 2026, driven by demand in China. Some analysts estimate that by 2026, 27 percent of Mobileye’s revenue will come from the SuperVision platform.

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Mobileye Global, an Intel-owned self-driving technology company, raised $861 million in its initial public offering, sources said. The timing of the company’s IPO is unusual, as the recent volatility in the U.S. capital markets has caused many new companies to cancel their IPO plans.
Based on the final offering price, Mobileye was valued at $16.7 billion. Intel had previously hoped that Mobileye would achieve a high valuation of $50 billion.

In the initial public offering of new companies in the U.S., companies reportedly sell 10% to 20% of their equity to investment institutions, but Mobileye only sold a % stake this time. The less-than-high valuation, coupled with the limited number of shares sold, limits Mobileye’s various size metrics for this IPO.

As of now, Mobileye officials have not commented.

According to Dealogic, a specialist firm that tracks IPO transactions in the U.S. capital markets, the U.S. IPO market is currently at one of its all-time lows, with the total amount of IPO financing for new companies this year set to be the lowest in the past 20 years.

The Renaissance IPO Index, which tracks U.S. initial public offering transactions, has plunged 51.3 percent this year, and for reference, the U.S. Standard & Poor’s 500 Index is down 19.54 percent.

The Cboe Volatility Index, which is used to measure the level of fear among U.S. Wall Street investors, recently stopped at a level of 29. Traditionally, this index exceeds 20, indicating that Wall Street investors have become seriously anxious about the recent performance of the U.S. stock market.

This year, many companies have canceled their IPOs due to severe volatility in the U.S. capital markets. As recently as October, Instrcart, a U.S. fresh food delivery company, canceled its plans to go public this year.

As for Mobileye’s choice to go public at this particular time, Intel CEO Kissinger explained that the IPO is significant for Mobileye and will “bring the company to market.

According to Mobileye’s SEC filing, Intel will still hold a large stake in Mobileye in the future, including all of the subsidiary’s “Class B common stock” that it intends to issue in the future. It is reported that, by design, Mobileye’s Class B common stock will have the equivalent of 10 shares of Class A common stock per share.

In the first half of the fiscal year, Mobileye reported sales of $854 million, an increase of 21 percent compared to the same period last year. However, the company still maintained its losses, which totaled $67 million for the first half of the year.

It’s worth noting that this isn’t the first time Mobileye has gone public; the company was valued at about $5 billion when it first went public in 2014, but in 2017 it was wholly acquired by Intel, which coveted the self-driving car market.

Mobileye’s shares will be traded on the Nasdaq stock market under the symbol “MBLY” on Wednesday local time.

Goldman Sachs Group and Morgan Stanley & Co. are said to be the lead underwriters in the IPO.

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