The two companies expect the combination to accelerate innovation for the automotive industry and position Intel as a provider in the fast-growing market for highly and fully autonomous vehicles. Intel estimates the vehicle systems, data and services market opportunity to be up to US$70 billion by 2030. This transaction extends the company’s strategy to invest in data-intensive market opportunities that build on the company’s strengths in computing and connectivity from the cloud, through the network, to the device.
The combined global autonomous driving organisation, which will consist of Mobileye and Intel’s Automated Driving Group, will be headquartered in Israel and led by Professor Amnon Shashua, Mobileye’s co-founder, chairman and CTO.
