Mobileye inks largest-ever self-driving tech deal for 8 million cars

The deal is for Advanced Driver-Assistance Systems with advanced capabilities.
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Israel’s Mobileye, has signed a deal to supply eight million cars manufactured by European carmaker Intel Corp with its self-driving technologies, Reuters reported.

The eight million units will be supplied over the life of the contract, which is typically five years in the automaker sector. The deal is for Advanced Driver-Assistance Systems (ADAS) with advanced capabilities.

Mobileye will be supplying the European automaker with its EyeQ5 chips.

Mobileye will be supplying the European automaker with its EyeQ5 chips.

According to the report, the deal supposedly the largest ever, consists of the Jerusalem-based Intel-owned company, supplying the European automaker with its EyeQ5 chips, for advanced driver assisted systems, starting in 2021, when the chips will be launched. The chips will be an upgrade of the EyeQ4 chips that will be rolled out in the coming weeks, Mobileye’s SVP for advanced development and strategy Erez Dagan, told Reuters.

For those uninitiated, Mobileye is a developer of chips for car cameras and driver-assistance features. In January, Intel and Mobileye unveiled their first autonomous car, equipped with 12 cameras and sensors that enable the cars to navigate the traffic by providing the vehicle with different fields of view.

Earlier this month, the company’s CEO Amnon Shashua, indicated the company has started testing its self-driving cars on highways around Jerusalem daily. The auto-tech giant is working with industry's big players like General Motors — for its Super Cruise system — Nissan, Audi, BMW, Honda, Fiat Chrysler and China’s Nio, to supply them with its Level 3 technologies by next year, the report read.

The auto-chip maker, bought by Intel last year for $15.3 billion, says there are some 27 million cars on the road from 25 automakers that use some sort of driver assistance system and Mobileye has a market share of more than 70 per cent, the company told Reuters.