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.
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.