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Mobileye NV (MBLY) Shares Soar On Self-driving Tech Project With Intel and BMW

Mobileye shares are topping charts today in the wake of good news regarding the technology firm. Reports suggest that the company is working together with Intel Corp as well as German high-end automaker BMW. The joint venture would help oversee the development of self-driving cars. It is expected that the combined efforts of these three industry giants should result in some of the best technology in the emerging autonomous driving industry.

2015 bmw mobileye
BMW i-series

A meeting is said to take place this Friday between the three entities. This is according to Reuters which says that BMW CEO Harald Krueger along with his counterpart and Intel, Brian Krzanich, begin with begn negotiating an agreement. They will be joined by Mobileye chairman and CTO Amnon Shashua.

Mobileye to make self-driving cars

BMW announced a few weeks ago that its will be putting it alluring and all-electric vehicle series — the i series — to the fore of its focus. Today luxury EVs come hand-in-hand with self-driving technology. The car maker’s collaboration with Intel and Mobileye  is expected to produce some cutting-edge auto-driving tech.

Mobileye is recognized as the company that is behind the famous Autopilot tech from Tesla Motors Inc. The company’s EyeQ5 chips are said to be powerful enough to run level 4 self-driving systems.

Mobileye as top auto-car tech maker

Among Mobileye’s innovative other products is its detection software. Its technologies include systems that can sense objects and pedestrians. They can alert you when you are near these items and other dangers. The tech firm’s artificial vision products uses cameras and sensors to scan its surroundings, feeding data into the system which then adjusts for possible collisions and adheres to road guides.

The firm’s autonomous driving tech is reported to be enhanced by STMicroelectronics NV. It is a chip maker as well and is said to have a hand in developing some remarkable self-driving products.

Shares of MBLY  were up more than 9 percent during early trading. The tech firm is expected to rally highs last seen in the later half of last year.

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