7 Things You Didn't Know About Mobileye - Stocks in the News
Mobileye N.V. (MBLY) is an Israeli company that is on the cutting edge of driver assistance systems (DAS) that use vision-based technology to help prevent accidents and detect roadway markings. In the coming years, Mobileye plans to expand their partnerships with car manufacturers and offer hands-free driving technologies to everyday consumers. The autonomous car industry has a bright future, and with a Zacks Rank #2 (Buy), Mobileye has plenty of potential for long-term growth, meaning investors need to get to know the company now.
Here’s a list of a few things you may not know about Mobileye:
1. They’ve been around longer than you’d expect.
Although autonomous cars are a relatively new technology that is still very much in development, Mobileye technology has actually been in vehicles since 2007. Remember, the company has its roots in early DAS systems, which are a bit older than one might expect.
2. You might be using their product without knowing it.
While there’s a good chance you may not have even heard of Mobileye before, you might actually be using their product every day. Mobileye has many partnerships with car manufacturers (OEMs). In fact, by the end of 2014 Mobileye technology was implemented in 160 models of cars made by 18 different OEMs.
3. They’re good at being the first.
Any company wants to have a competitive advantage, and this is especially important in an emerging industry. Mobileye is no stranger to beating out the competition and producing first-of-its-kind technology. For example, in 2010 Mobileye became the first company to design and implement a vision-based pedestrian collision warning system. In 2011, the company expanded this technology and designed the first forward collision warning system to be approved by the U.S. National Highway Traffic Safety Administration.
4. Share prices have doubled in less than a year.
Some might remember Mobileye’s IPO back in July 2014, but share prices have more than doubled since then. The company originally sold 35.6 million shares at $25 each, implying a market value of $7.6 billion. As of today, shares are hovering around the $53 range, highlighting just how fast Mobileye has grown.
5. You’ll be able to drive hands-free by the end of 2016.
On the highway, that is. That’s right, Mobileye plans to introduce hands-free capable driving through 2 different OEMs within the 2016 timeframe. The company plans to have this technology compatible with open highway and traffic driving by then, with plans to fully incorporate city and country road driving by 2018.
6. Fully autonomous cars are coming soon.
While Mobileye will have drivers taking their hands off the wheel in a year or so, fully autonomous cars—cars that can get you from Point A to Point B with no driver intervention at all—are also coming sooner rather than later. In fact, in a recent interview with Forbes, Ford CEO Mark Fields said that he expects a fully autonomous car to be on the market within the next 5 years.
7. This technology has the potential to change the world.
In many ways, the type of technology that Mobileye is working on right now will change the world as we know it. According to the Institute of Electrical and Electronics Engineers (IEEE), 75% of all cars on the road in 2040 will be autonomous, which will have an impact on basically any industry that uses automobiles. Also, the IEEE is confident in the potential for self-driving cars to end traffic accidents. The IEEE even goes as far as to assert that vehicle-to-infrastructure communication (which Mobileye has innovated in the past) can eliminate the need for traffic lights.
Bottom Line:
It may be surprising to hear how soon this technology will be available, but we must accept the realities of our future and begin investing wisely now. With a history of technological advancements, wide ranging partnerships with OEMs, and exciting plans for the future, Mobileye is a company with a lot of potential. Investors looking to get into the autonomous car market should definitely keep up with Mobileye going forward.
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