FX.co ★ Mobileye In Autonomous Driving Deal With Volkswagen; Stock Up In Pre-market

Volkswagen Group, the German car manufacturing giant, and Mobileye Global Inc., a firm specializing in the development of autonomous driving technologies and driver-assistance systems, have announced a partnership to expedite their progress in automated and autonomous driving technology.

Ahead of the market opening on Nasdaq, shares in Mobileye witnessed a notable increase of approximately 4.1 percent, trading at $29.52. The agreement between the two companies outlines that Mobileye will supply technologies based on its Mobileye SuperVision and Mobileye Chauffeur platforms, for partially and highly automated driving.

In the future, Volkswagen's premium brands including Audi, Bentley, Lamborghini, and Porsche plan to incorporate these technologies extensively. This integration is expected to introduce innovative, high-end driving functions across their diverse range of models and powertrain types.

Mobileye will enable advanced assistance systems for different driving environments, such as urban driving and highway driving. The systems will facilitate automated overtaking on multilane highways where permissible and under certain conditions, automatic halting at red lights and stop signs, and support at intersections and roundabouts.

Moreover, Mobileye will also continue to deliver advanced technology components for automated driving to Volkswagen Commercial Vehicles. A significant part of the agreement involves Mobileye supplying software, hardware components, and digital maps for the self-driving ID. Buzz AD, to Volkswagen ADMT GmbH, a subsidiary of Volkswagen.

This extensive collaboration follows a productive test phase on roads in Germany and the United States. The primary objective of the agreement is to use the self-driving system (SDS) for a special variant of the ID. Buzz, a vehicle that has been in the development process for autonomous driving since 2021.

Volkswagen ADMT aims to design the fully electric, autonomous ID. Buzz AD for deployment in mobility and transport services by 2026.