Lidar manufacturer’s stock has doubled since last year’s IPO
Intel Corp. INTC 0.00 plans to sell a part of Mobileye Global MBLY 0.00, maker of lidar systems, for about $1.5 billion, according to a U.S. Security and Exchange commission filing. In the filing, Intel said it would be offering 35 million Class A common stock in Mobileye—to bring its ownership of the Israel-based company down from 99.3 percent to 98.7 percent.
Although down by 5 percent this week, shares of Mobileye have doubled since it went public last year in an $861 million offering. Mobileye’s customers include BMW, Nissan and Volkswagen.
Lidar Market Could Become Much Larger…
The U.S. Transportation Department’s National Highway Traffic Safety Administration issued a Notice of Proposed Rulemaking requiring automatic emergency braking and pedestrian AEB systems on passenger cars and light trucks. The proposed regulation could spur a new run on lidar solutions.
If adopted, nearly all U.S. light vehicles (gross vehicle weight rating of 10,000 pounds or less) will be required to have AEB technology three years after the publication of a final rule. AEB systems use lidar, cameras and other optical sensors to detect impeding vehicles.