Intel bets on self-driving cars: acquires MobilEye for $15.3 billion

[Jos]

Following a partnership to work alongside BMW on a new reference platform for autonomous cars, Intel has announced it is acquiring machine-vision technology company Mobileye for $15.3 billion. The move immediately gives Intel a strong foothold in the automotive industry, with Mobileye’s systems already accounting for 70% of the global market for advanced driver-assistance and anti-collision systems.

Intel says it expects the all cash transaction to close within the next nine months.

The two companies are collaborating with BMW on a project to deploy about 40 modified BMW 7 Series sedans for testing on public roads in the U.S. and Europe by the second half of 2017. The goal is to apply the gathered data not only toward producing BMW’s self-driving vehicle — codenamed iNext — four years from now, but to develop “scalable architecture” that can be adopted by other vehicle brands as a turnkey option instead of creating all of their own autonomous driving technology from scratch.

Intel is separately working on another partnership with Mobileye and Delphi centered on self-driving technology, with the goal of delivering a fully functioning system by 2019.

This is the latest in a series of moves to position itself in the automotive space. Back in November the company created a new business unit known as the Automated Driving Group and has vowed to spend $250 million over the next two years toward the development of autonomous vehicles. Intel estimates the vehicle systems, data and services market opportunity to be up to $70 billion by 2030

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https://www.techspot.com/news/68490-intel-acquires-mobileye-153-billion-bets-self-driving.html

 

[RedGuard]

A lot of companies bet on self-driving cars, but I, for one, cannot see myself 'not driving' one while at the wheel.

 

[VitalyT]

F. hell, not again, I'm in the wrong f. business.

 

[mosu]

Just a simple money laundering case.

 

[agello24]

See this is why intel chips are so high. yet they blame it on the R &D department. this is the same crap disney did when they bought marvel for 4 billion. now the price to get into disneyland is almost impossible. glad I dont own an new intel chip!

 

[Phr3d]

"codenamed iNext"
hehe, Really?

 

[Makson]

I fail to see the reason for self-driving vehicles and a far better description would be a 'Robotic Transport Carriage'. The next thing I don't see a reason for is a steering wheel, and why only two seats in the front when there are three in the rear passenger compartment in current designs. Fortunately the Ford company are building vehicles without a steering wheel, and no foot pedals either.
When it comes to the cost of everything involved with the 'driverless' (robot driver) vehicles, the $15.3 BILLION Mobileye, the $250 MILLION heading toward $70 BILLION and other $BILLION concepts, (Mars comes to mind) would/should be more effectively spent on robotic and other medical equipment to benefit the elderly, the invalid, infirm, people without arms and/or legs, para/quadraplegic individuals with SENSIBLE, robotic, voice or thought activated mobility chairs, etc;
Many members of the human race have too many peculiar methods of wasting money to benefit a minority of individuals while the majority find it difficult to even exist in the one and only lifetime available to everyone.