Intel Is Taking Its Self-Driving Company Mobileye Public In 2022 (theverge.com) 9
Intel announced that it will take public its self-driving technology company Mobileye, the Israeli company it acquired for $15.3 billion in 2017. The Verge reports: The chipmaker said that by listing Mobileye's shares on the stock market, it hopes to unlock more value for Intel's shareholders. Intel will remain the majority shareholder in Mobileye. In a statement, Intel heralded its acquisition of the company as a noteworthy success, noting that Mobileye's revenue in 2021 was 40 percent higher than the previous year. An IPO "provides the best opportunity to build on Mobileye's track record for innovation and unlock value for shareholders," Intel CEO Pat Gelsinger said.
Founded in Jerusalem in 1999 by Amnon Shashua and Ziv Aviram, the company develops systems and chips to help vehicles navigate autonomously and provide warnings for collisions. Tesla originally used Mobileye chips for its Autopilot system but severed ties with the company after a fatal accident where Tesla claims Mobileye's technology was unable to distinguish between a laterally crossing truck and the sky behind it. Its EyeQ4 chip is currently used in the NIO ES6 and ES8, Nissan's ProPilot 2.0, VW's Travel Assistant in the Passat and Golf, the Ford Mustang Mach-E, as well as the F-150 truck.
Mobileye is currently working on four different products that offer varying levels of automation, including an advanced driver assist system (ADAS) that it currently supplies to 25 companies and a "premium" ADAS that will launch with Zeekr, an electric vehicle brand owned by China's Geely. Neither ADAS system will include lidar, the sensor that uses lasers to determine the real-time location of objects on the road. Mobileye's other two products will use lidar and are more advanced in their automation technology. [...] Mobileye also aspires to operate its own robotaxis [...].
Founded in Jerusalem in 1999 by Amnon Shashua and Ziv Aviram, the company develops systems and chips to help vehicles navigate autonomously and provide warnings for collisions. Tesla originally used Mobileye chips for its Autopilot system but severed ties with the company after a fatal accident where Tesla claims Mobileye's technology was unable to distinguish between a laterally crossing truck and the sky behind it. Its EyeQ4 chip is currently used in the NIO ES6 and ES8, Nissan's ProPilot 2.0, VW's Travel Assistant in the Passat and Golf, the Ford Mustang Mach-E, as well as the F-150 truck.
Mobileye is currently working on four different products that offer varying levels of automation, including an advanced driver assist system (ADAS) that it currently supplies to 25 companies and a "premium" ADAS that will launch with Zeekr, an electric vehicle brand owned by China's Geely. Neither ADAS system will include lidar, the sensor that uses lasers to determine the real-time location of objects on the road. Mobileye's other two products will use lidar and are more advanced in their automation technology. [...] Mobileye also aspires to operate its own robotaxis [...].
Ya, but ... (Score:3)
Intel Is Taking Its Self-Driving Company Mobileye Public in 2022
If it's a self-driving company, wouldn't it take itself public? Duh.
Re: (Score:1)
Self-crashing, maybe.
When large co's try to go outside of their specialty, it usually doesn't go well. GM tried diversifying a few decades ago, thinking offshoring would do them in, but ended up going back to their bread and butter because they sucked even worse outside of cars.
Re: (Score:2)
>Self-crashing, maybe.
I found this video from Mobileye impressive, there are 4 or 5 different 'mapings' in action :
https://youtu.be/amId0UHGOGE?t... [youtu.be]
Is this the right approach? (Score:2)
Isn't "unlocking more value for shareholders" exactly what got Intel into the situation it is in now?
As long as Mobileye is private, it can continue to make the investments it needs to be successful. Once you let that cat out of the bag, though...
Re: (Score:3)
Isn't "unlocking more value for shareholders" exactly what got Intel into the situation it is in now?
As long as Mobileye is private, it can continue to make the investments it needs to be successful. Once you let that cat out of the bag, though...
When an electric car company with dozens of sales gets valued at $100 billion [fool.com] then doesn't it make sense to see if self-driving companies can also cash in on the hype?
Robotaxi idea is stupid (Score:2)
As was stated in one of the comments on The Verge, trying to make and deploy robotaxis before widespread deployment and usage of full self driving in non-taxi vehicles is a dumb idea. Also, Intel screwed over Mobileye and the autonomous driving industry with this purchase. Them holding majority in Mobileye even after IPO is only going to make things worse. Mobileye CPUs have stagnant since Intel bought and trashed the company. They should have been trying to get sales to auto manufacturers first before chas
Re: (Score:2)
What was the reason given? There are some reasons it makes sense: 1) self-driving cars will initially be expensive and depreciate rapidly as the tech. evolves, which favors keeping them in constant use; and 2) people may be hesitant to purchase such unfamiliar technology, whereas paying a few bucks to ride & see is a far smaller commitment.
I think Waymo is on a goo
Translation: Intel needs the money (Score:2)
Intel has started to re-invest in engineering (new fabs and whatnot). That'll take billions over many years - quite frankly, they need the money from this to pay for it all.
Self-driving cars are a potential "boom" and could make a lot of people rich, which is probably why they got into it in the first place. If Intel play their cards right though, they'll get designed into self driving cars whether they have a company making them or not. Of course, in order to "play their cards right", they need to do some