Intel’s $15 billion acquisition of Mobileye is all the talk in the auto industry today. The biggest question is how do they value the company at 30 times its projected revenue for the year? It’s a historic acquisition in term of size and valuation. For comparison, Tesla is valued at $40B, about 4 times its projected revenue for the year.
The answer is that Intel sees the acquisition as bringing in-house the “entire package” of autonomous driving. CEO Brian Krzanich wrote in an email to employees today: “this acquisition essentially merges the intelligent eyes of the autonomous car with the intelligent brain that actually drives the car.” The eye being Mobileye and the brain being Intel.
The fact that they are willing to pay $15 billion to accomplish that is quite interesting and somewhat validates Tesla’s own new approach which aims to do same thing since discontinuing Mobileye’s system in the Autopilot. In fact, Tesla considers its in-house efforts an improvement over the Mobileye platform. expand full story
Intel just paid a staggering $15.3 billion to acquire Mobileye, which was publicly trading at $10.5 billion before the deal was announced this morning. The Israeli company, which was best known by the public as one of the main supplier for Tesla’s first generation Autopilot program, will solidify Intel’s effort in the field of autonomous driving. expand full story
Since Tesla announced back in October 2016 that all its cars from now on will be equipped with all the necessary hardware to enable self-driving capability through an over-the-air update, other automakers unveiling new cars had to step up their game since the new autonomous technology is expected to be critical to the industry going forward.
When Lucid Motors unveiled its first vehicle last month, the company announced that it would feature autonomous technology, but now it clarified that it will follow Tesla’s lead and equip all cars with the necessary hardware to enable self-driving capability and gradually release more advanced driver assist features leading to full autonomy.
The electric car startup confirmed that Mobileye, Tesla former partner for the Autopilot program, will power its autonomous system. expand full story
Today, Mobileye responded to the allegations, partly refuting them, and again reiterating that they initiated the end of the partnership because they disagreed with Tesla on their approach to safety with the Autopilot.
But the statement is surprisingly not trying to refute some of Tesla’s most serious allegations. expand full story
We reported earlier today on comments made by Mobileye CTO Amnon Shashua about what is starting to look like an ugly breakup between the Israel-based maker of driver assistance systems and Tesla. He claimed that Tesla was “pushing the envelope in terms of safety” and that the company wasn’t comfortable with it.
But now Tesla is painting an entirely different picture of the reasons behind the end of the supply relationship. In doing so, Tesla confirmed its in-house ‘Tesla Vision’ product for computer vision and it depicted shady alleged business practices at Mobileye. expand full story
After a very public breakup in July, Tesla CEO Elon Musk decided to refrain from commenting on his company’s relationship with Mobileye, Israel-based maker of collision detection and driver assistance systems and Tesla’s former partner in the development of Autopilot.
But on Wednesday, Mobileye’s chief technology officer, Amnon Shashua, didn’t shy away from commenting on the situation and opened up on what he says led to the end of the relationship. expand full story
Just a few weeks after we mentioned that Mobileye and Tesla were parting ways, yesterday during a press conference, we learned that Mobileye and Delphi Automotive (formerly part of General Motors) are going to partner up to create their own self-driving solution which they aim to have completed and available in 2019.