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Getting an order for 8 million of anything is pretty significant. And when that figure represents 8 million self-driving autonomous driving technology systems, it says something about the intentions of the world’s automakers.

Mobileye, the Israeli-based self-driving car tech company owned by Intel, is said to have reached a deal to provide a European automaker with self-driving technology for use in 8 million of the car company’s vehicles, according to Reuters, which cited a Mobileye official as the source of information. Neither financial terms, nor the name of the European carmaker, were disclosed.

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Intel didn’t return a request for comment about the reported Mobileye deal.

Reuters said the arrangement will begin in 2021 and is one of the biggest such deals in Mobileye’s history. Intel bought the company last year for $15.3 billion in order to get a piece of the growing market for self-driving car technology.

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Mobileye has claimed there are currently about 27 million cars worldwide using some form of driver-assistance technology, and that it has a 70 percent share of the self-driving car technology market.

Among the companies currently working with Mobileye to include its technology in their vehicles are General Motors, …read more

Source:: The Mercury News – Business

      

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