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. RELATED ARTICLES Mobileye to close aftermarket unit, lay off 130 Mobileye jumps on Q2 forecast Mobileye 2023 revenue up 11% ahead of 2024 fall 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. © Copyright of Globes Publisher Itonut (1983) Ltd., 2024.
