Autonomous Vehicle Technologies

Mobileye, founded in Israel in 1999, is a global technology company specializing in camera-based Advanced Driver Assistance Systems (ADAS) for autonomous vehicles. In 2017, it was acquired by Intel—one of the world’s largest microchip manufacturers—for $15.3 billion. The company went public in October 2022 at a valuation of $23.5 billion, with a public float of 5.6%.

Mobileye designs its own software algorithms and produces the EyeQ chipsets, which have been deployed in over 125 million vehicles to date. ADAS systems, equipped with high-resolution cameras and image-processing technologies, function much like a human driver by detecting lane markings, traffic signs, lights, parked vehicles, and pedestrians. Mobileye aims to reach 375 million vehicles by 2030, with an annual growth target of 15%.

The global ADAS market is currently valued at $16 billion and is projected to grow to $40 billion by 2026 and a staggering $480 billion by 2030.

In terms of revenue, Mobileye grew from $879 million in 2019, to $967 million in 2020 (+10%), and $1.4 billion in 2021 (+40%). Due to high R&D expenses relative to its revenue, the company reported operating losses of $86 million in 2019, $213 million in 2020, and $174 million in 2021. From its IPO, Mobileye raised $820 million, which it plans to allocate primarily to research and development.

Despite the termination of a previous partnership with Tesla in 2016, Mobileye continues to work with major automakers like Volkswagen, Ford, and Zeekr. After Volkswagen and Ford shut down their jointly invested Argo AI (a $1 billion investment) in late 2022, both automakers announced they would integrate Mobileye’s technologies into their new vehicle models.

An essential component of autonomous driving is computational power, often measured in TOPS (Tera Operations Per Second). For this reason, many investors believe Nvidia will be one of the primary beneficiaries of autonomous driving trends. For example, NIO’s ET7 model uses four Nvidia Orin SoCs, paired with over 30 sensors including LiDAR, delivering a total of 1 POPS (1000 TOPS) of computing power.

Despite these powerful systems, Mobileye has demonstrated that its software can do more with less. The company has built highly intelligent solutions that efficiently use computing resources, making its systems among the smartest on the market. In a recent demonstration, Mobileye’s CTO showcased how their system operates in complex cities like Paris and New York. To date, Mobileye has gathered over 13.5 billion kilometers of test data, which goes beyond simple GPS data—making it more costly and difficult to obtain, but far more valuable.

Recognizing that autonomous driving would initially take root in the robotaxi space, Mobileye proactively invested in the sector years ago. In 2020, it acquired Moovit, a travel and journey-planning application, to accelerate its robotaxi ambitions. The company has long been testing its robotaxi system in Israel, expanding to Germany by late 2020 and later to cities like Detroit, Paris, Tokyo, and New York in 2021. Its key competitors include Waymo (Google), Tesla, and General Motors, but Mobileye’s competitive edge lies in its global mapping system, enabling testing in more cities than any of its rivals.

A strong testament to Mobileye’s technological efficiency is the SuperVision ADAS, which launched in the Geely Zeekr 001 at the end of 2021. This system uses only two EyeQ5 SoCs to deliver 30 TOPS, a performance level rivaling or exceeding that of other vehicles currently in production—all with over 30 times less computing power.

Moreover, SuperVision uses around three times fewer sensors than competing systems. Like Tesla’s approach, it is based entirely on cameras—utilizing seven forward cameras and four parking cameras.

Mobileye’s commitment to innovation and efficient technology positions it as a dominant player in the rapidly growing autonomous driving market. Whether it’s your personal car, a taxi, or a train, Mobileye’s smart technologies are poised to bring meaningful improvements to everyday life.