November 5, 2019, Jerusalem – At an investor summit at Mobileye’s headquarters in Jerusalem, Amnon Shashua, president and CEO of Intel subsidiary Mobileye, predicted that Mobileye’s revenue will grow significantly and consistently over the next decade. The forecast is based on broader strategic updates including: new data points for Mobileye’s business lines, greater addressable market size and new customer acquisitions. At the event, Intel Chief Financial Officer George Davis called Mobileye one of Intel’s “data-centric” strategic growth opportunities that exceeded Intel’s initial expectations.
“Intel is currently operating in an increasingly data-centric market, and its potential scale has expanded,” Davis said. “Mobileye is a big bet for Intel and an important part of Intel’s future. Today, advanced driver-assistance systems The revenue from the (ADAS) business has exceeded our expectations and is already laying the foundation for the future of autonomous vehicles.”
In the third quarter, Mobileye once again achieved record quarterly revenue with a 20% year-over-year increase in revenue, driven by continued momentum in the ADAS business. One of the most successful acquisitions in Intel’s history, Mobileye is now Intel’s fastest-growing business unit on an annualized basis. Much of Mobileye’s strong growth right now is due to the fast-expanding ADAS market, and it’s set to expand significantly in the future as it moves into data monetization and the burgeoning self-driving taxi market.
Professor Amnon Shashua, President and CEO of Mobileye, an Intel subsidiary, said: “Mobileye is creating unique economic and societal value every day on its journey towards fully autonomous vehicles. )’ strategy, let us start a marathon self-funded R&D campaign. By 2030, the potential market size of ADAS and data will be as high as 72.5 billion US dollars, and the potential market size of autonomous taxis is expected to reach 160 billion US dollars .Our strategy will help us capture these key market segments.”
During the summit, Shashua announced that it had won an L4 customer order from Chinese electric vehicle manufacturer NIO. NIO will integrate Mobileye’s industry-leading autonomous driving systems to create highly automated and autonomous vehicles for the consumer market in China and other key regions. NIO will also partner with Mobileye to develop a self-driving taxi model of its next-generation vehicle, which will be exclusively sold to Mobileye, allowing Mobileye to deploy its self-driving taxi-based ride-sharing service globally.
On the day of the summit, Shashua outlined Mobileye’s strategic business pillars and dug into Mobileye’s industry-leading assets in computer vision, high-definition mapping and road safety. Other disclosures include:
Current income through ADAS:
Mobileye will ship more than 50 million EyeQ™ chips since 2008 by the end of 2019.
Currently, Mobileye joins forces with 27 OEM (Original Equipment Manufacturer) partners to support ADAS systems in a total of approximately 300 vehicle models.
Eight of the 11 L2+ systems currently in mass production are based on Mobileye technology.
Wins new orders in three major markets: 4 million new orders with a major European OEM; agreement with the largest OEM in India, the second fastest growing automotive market in the world1 China); and won two new contracts from China’s leading OEMs.
Self-driving taxi mobility-as-a-service: Investors and analysts at the summit were put on the rough roads of Jerusalem to see a behind-the-scenes test drive of self-driving cars. There, Mobileye demonstrated the technically unparalleled flexibility and safety of its complete autonomous vehicle solution stack to handle all types of complex driving situations. Mobileye has been perfecting the technology for the self-driving ride-hailing business since it announced the Pinta Pilot last year.
Volkswagen and Champion Motors announced last year a joint venture (aka “Pinta”) that is expected to operate in Tel Aviv in 2022.
Intel conservatively estimates, based on third-party data, that the potential market for autonomous taxis will reach $160 billion by 2030.
Mobileye also announced today that it is entering into a long-term collaboration with the RATP Group (Régie Autonome des Transports Parisiens) to jointly deploy an autonomous transportation solution based on Mobileye AV technology. The combination of Mobileye’s unique AV assets and RATP Group’s strong position in Europe and mobility services expertise allows the two companies to conduct joint research and exploration to provide jointly developed products for robo-taxi shuttle fleets on a global scale. The test work will start in Paris, France in 2020.
New revenue from data: Mobileye is leveraging its industry-leading ADAS footprint to take a differentiated, crowdsourced approach to creating hyper-refined maps in a technically challenging area. Its Road Network Asset Management? (REM?) system can not only be used as a solution for autonomous driving, but also provides data solutions for smart city management and other fields, with unparalleled advantages.
Currently, Mobileye is automatically creating world maps based on data from BMW, Volkswagen, Nissan and three other OEMs to ensure maps are updated in real time. Based on the amount of data collected, we expect to fully map the European Union (EU) by the first quarter of 2020, and most of the United States by the end of 2020.
Another 20+ customers have joined Mobileye’s collaborative trial and launch process with the UK Ordnance Survey to gain access to smart analytics models for smart cities, a promising business opportunity.
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