Just hours ago (Sept. 24th at 2:00EST), Mobileye announced that its technology will be used by one of China’s largest privately held automakers. The announcement by Intel came shortly after the Beijing Auto Show, where Israeli CEO Amnon Shashua represented the company.
Surrounding Mobileye’s $15.3 billion acquisition by Intel in 2017, the company has been on a fantastic trajectory of winning business with automakers including Nissan, GM, BMW, Volkswagen, and Audi. However, the Chinese market remained quite untapped by comparison. With the announcement of this big win for Shashua and Mobileye is the definition of the joint venture between Geely Auto Group and Volvo Car Group, which will be using Mobileye’s SuperVision driving-assistance system.
Video Credit: Intel
The unique aspect of the deal is that Mobileye is stepping up a level to provide the full solution stack, including hardware and software, for the first time ever.
“Our collaboration with Geely is a game changer for the global automotive industry as it brings our industry-leading surround-vision technology to market in one of the most advanced driver-assistance systems,” said Shashua.
This announcement is a big win for Mobileye, Intel, Shashua, and Israel. The hi-tech software and hardware provider has broken into one of the fastest-growing electric care makers in the world, which is a perfect fit for the look, feel, and purpose of Mobileye’s product lineup. Also paired with the trend is China’s increased interest in safer, cleaner transportation solutions.
Mobileye is the global leader in the development of computer vision and machine learning, for advanced driver assistance. Mobileye’s proven technology helps keep passengers safer on the roads, reduces the risks of traffic accidents and saves lives. Mobileye’s proprietary software algorithms and EyeQ® chips perform detailed interpretations of the visual field in order to anticipate possible collisions with other vehicles, pedestrians, cyclists, animals, debris and other obstacles.
About Geely Auto Group
Geely Auto Group is a leading automobile manufacturer based in Hangzhou, China, and was founded in 1997 as a subsidiary unit of Zhejiang Geely Holding Group (ZGH). The group manages several leading brands including Geely Auto, Lynk & Co, Proton Cars, Lotus, and Geometry. The group employs more than 50,000 people, operates 12 plants, five global R&D centers in Hangzhou, Ningbo, Gothenburg, Coventry and Frankfurt. The Group also boasts five global design studios in Shanghai, Gothenburg, Barcelona, California and Coventry, respectively, with over 900 members of staff in total. The Geely Auto brand has been listed on the Hong Kong stock exchange since 2005. The controlling shareholder in Geely Auto is Zhejiang Geely Holding Group, which is also the parent company of Volvo Car Group, Geely Commercial Vehicles Group, Geely New Technology Group and Mitime Group.