Autonomous Vehicle News
Mobileye was issued at a value of $17 billion, which was almost identical to what Intel paid for the company five years earlier. ( Photo: Mobileye, an Intel Company )Because of the relatively low value in the offering, Intel avoided selling too many of the company's shares and still owns close to 95% of Mobileye. It became completely clear that the dream of a fully autonomous vehicle, one that drives itself without the presence or involvement of a driver, will not come true soon - not in the next five years and not even in the next ten, as was previously hoped. At first glance, this should have been bad news for Mobileye, whose sale to Intel for $15 billion was built on the vision of the fully autonomous car. After several painful Tesla safety incidents, the industry also realized that without almost endless hours of testing, it would not be possible to release the autonomous vehicle.