Tesla Motors Inc (TSLA) Partner Mobileye Goes Public

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Tesla Motors Inc (TSLA) Partner Mobileye Goes Public
Blomst / Pixabay

Tesla Motors Inc (NASDAQ:TSLA) is scheduled to release its next earnings report this week, and as luck would have it, there’s plenty of other Tesla news as well. Israeli technology company Mobileye (NYSE:MBLY) said it expects to open on the New York Stock Exchange this week, pricing shares at between $17 and $19 each.

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Details on Mobileye’s offering

The Israeli company is offering 27.8 million shares in a deal worth around $499.5 million. A Tesla spokesperson would say nothing about their partnership with Mobileye other than that they “have a business relationship.”

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Mobileye makes technology that assists cars in avoiding accidents. It has been around since 1999 and says it designs software and other technology for “Advanced Driver Assistance Systems” that are based on cameras. According to Silicon Beat, the company expects its technology to be available in 160 different models of cars from 18 different global automakers by the end of this year. Mobileye’s technology warns drivers that they’ve left their lanes or are about to collide with an object. The technology also detects nearby pedestrians.

Tesla Motors partners with Mobileye

Tesla is scheduled to release its next earnings report on Thursday. Two big topics that will be up for conversation are the automaker’s gigafactory and also its progress in China. However, many will undoubtedly be paying attention to Mobileye as speculation about driverless Tesla cars grows. Some are questioning now whether the company’s technology will be included in the upcoming Model X and Generation III vehicle. In fact, earlier this year there was a rumor that Tesla wants to have driverless technology in its cars by 2016.

Dougherty & Co. analyst Andrea James said recently that she believes Tesla Motors and Mobileye are partnering on driverless technology. The idea of driverless cars is something that’s been a hot topic of conversation since Google Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) began working on them. There was speculation previously that Tesla and Google were working together on driverless cars. Of course we’re still so many years away from having truly driverless cars on the road that anything about this is pure speculation.

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Michelle Jones is editor-in-chief for ValueWalk.com and has been with the site since 2012. Previously, she was a television news producer for eight years. She produced the morning news programs for the NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spent a short time at the CBS affiliate in Huntsville. She has experience as a writer and public relations expert for a wide variety of businesses. Email her at Mjones@wordpress-785388-2679526.cloudwaysapps.com.
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4 COMMENTS

  1. They are building 2 vehicles now. Make no mistake, I am a fan and in line for a Model X but I think that they should do something about driving aids. I can only hope that, when I get my car it has at least ACC and automatic braking.

  2. Why? Tesla is not a giant auto corporation that deploys thousands of engineers to queue up new features until a point where they may or may not be feasible business opportunities. It’s a tiny,focused auto company building one vehicle! They are forced to work on the highest priorities for getting vehicles on the road – now!

  3. something must be done by Tesla about active security. They are way behind when it comes to active cruise control, automatic braking, lane departure control and so on….A car costing almost 100K should have this and more.

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