Israeli advanced driving assistance systems (ADAS) company Mobileye Global Inc. (Nasdaq: MBLY) and the Volkswagen Group have announced intensified collaboration to bring new automated driving technologies to series production. In the deepened partnership Mobileye will provide driving assistance software based on its SuperVision and Chauffeur platforms to VW’s luxury brands Audi, Bentley, Lamborghini and Porsche.
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Mobileye president and CEO Prof. Amnon Shashua said, “We are proud to work closely with Volkswagen Group to make the future of driving safer, more automated and more rewarding. Through these programs, we see Volkswagen Group leading the industry in putting AI-powered advanced driver assistance technology in the hands of consumers globally and developing new services with autonomous vehicles.”
Following the announcement of the enhanced strategic partnership, Mobileye’s share price rose 7.51% to $30.50, giving a market cap of $24.59 billion.
Published by Globes, Israel business news – en.globes.co.il – on March 21, 2024.
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