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Intel's (INTC) Mobileye Partners With Udelv: Main Takeaways
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Intel’s (INTC - Free Report) Mobileye recently announced that its self-driving system known as Mobileye Drive will power Udelv’s next-generation of electric autonomous delivery vehicles (ADV), dubbed — Transporters.
Mobileye further added that the commercial operations are expected to begin from 2023 and the companies are targeting to produce overall 35,000 Transporters by 2028.
Mobileye Drive-powered Transporters will feature level 4 (L4) self-driving as well as point-to-point operation. Transporters will be assisted by Udelv’s tele-operations system for driving in areas like loading zones, apartment complexes, parking lots and private roads, noted the company.
Udelv will integrate Mobileye Drive with its Delivery Management System. Mobileye will offer Udelv the necessary technical and over-the-air software support for the integration.
Notably, Udelv bagged its first pre-order for 1000 Transporters from Donlen, which is a reputed commercial fleet management company in the United States.
Headquartered in Burlingame, CA, Udelv specializes in the development of self-driving vehicles.
Opportunities in Autonomous Vehicle Space Bodes Well
Per a Grand View Research report, global autonomous vehicle market demand is expected to witness a CAGR of 63.1% between 2021 and 2030. The fast development in the self-driving vehicle space primarily can be credited to technological breakthroughs, with the integration of robust Artificial Intelligence (AI) and machine learning (ML) capabilities in advanced driver-assistance systems (ADAS).
Mobileye also noted that the ongoing pandemic has fueled the demand for autonomous delivery vehicles. As customers move to online shopping (even for essentials), there is a massive spurt in urban last-mile delivery volume and that is driving demand for delivery vehicles. With drivers being in short supply, autonomous vehicles could witness improving demand.
Udelv’s fleet of Transporters is expected to augment efficacy of middle and last mile delivery services for all goods including perishables (groceries and baked goods).
The collaboration between Udelv and Mobileye in the backdrop of growing momentum witnessed for electric and autonomous vehicles augurs well for Intel in the longer haul.
Intel acquired Israel-based Mobileye for $15.3 billion in 2017 to gain ground in the autonomous car technology market. With the buyout, Intel has access to Mobileye’s technologies related to cameras, in-car networking, sensor-chips, roadway mapping, cloud software, machine learning and data management.
In May 2020, Intel purchased Moovit for $900 million to supplement Mobileye’s mobility-as-a-service (MaaS) solutions. In 2020, Mobileye contributed $967 million to total revenues, up 10% year over year.
Going ahead, Mobileye plans to roll out an autonomous ride-hailing service in Israel in early 2022 and is looking to implement autonomous shuttles in partnership with Transdev ATS and Lohr Group in Europe.
However, Intel — carrying a Zacks Rank #4 (Sell) — needs to watch out for intense competition in the self-driving cars’ space. The alluring growth prospects of the autonomous vehicles’ market has drawn several tech and auto giants including the likes of General Motors, Toyota, BMW, Ford, Daimler AG, Alphabet’s (GOOGL - Free Report) Waymo, NVIDIA (NVDA - Free Report) , Tesla (TSLA - Free Report) .
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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Intel's (INTC) Mobileye Partners With Udelv: Main Takeaways
Intel’s (INTC - Free Report) Mobileye recently announced that its self-driving system known as Mobileye Drive will power Udelv’s next-generation of electric autonomous delivery vehicles (ADV), dubbed — Transporters.
Mobileye further added that the commercial operations are expected to begin from 2023 and the companies are targeting to produce overall 35,000 Transporters by 2028.
Mobileye Drive-powered Transporters will feature level 4 (L4) self-driving as well as point-to-point operation. Transporters will be assisted by Udelv’s tele-operations system for driving in areas like loading zones, apartment complexes, parking lots and private roads, noted the company.
Intel Corporation Price and Consensus
Intel Corporation price-consensus-chart | Intel Corporation Quote
Udelv will integrate Mobileye Drive with its Delivery Management System. Mobileye will offer Udelv the necessary technical and over-the-air software support for the integration.
Notably, Udelv bagged its first pre-order for 1000 Transporters from Donlen, which is a reputed commercial fleet management company in the United States.
Headquartered in Burlingame, CA, Udelv specializes in the development of self-driving vehicles.
Opportunities in Autonomous Vehicle Space Bodes Well
Per a Grand View Research report, global autonomous vehicle market demand is expected to witness a CAGR of 63.1% between 2021 and 2030. The fast development in the self-driving vehicle space primarily can be credited to technological breakthroughs, with the integration of robust Artificial Intelligence (AI) and machine learning (ML) capabilities in advanced driver-assistance systems (ADAS).
Mobileye also noted that the ongoing pandemic has fueled the demand for autonomous delivery vehicles. As customers move to online shopping (even for essentials), there is a massive spurt in urban last-mile delivery volume and that is driving demand for delivery vehicles. With drivers being in short supply, autonomous vehicles could witness improving demand.
Udelv’s fleet of Transporters is expected to augment efficacy of middle and last mile delivery services for all goods including perishables (groceries and baked goods).
The collaboration between Udelv and Mobileye in the backdrop of growing momentum witnessed for electric and autonomous vehicles augurs well for Intel in the longer haul.
Intel acquired Israel-based Mobileye for $15.3 billion in 2017 to gain ground in the autonomous car technology market. With the buyout, Intel has access to Mobileye’s technologies related to cameras, in-car networking, sensor-chips, roadway mapping, cloud software, machine learning and data management.
In May 2020, Intel purchased Moovit for $900 million to supplement Mobileye’s mobility-as-a-service (MaaS) solutions. In 2020, Mobileye contributed $967 million to total revenues, up 10% year over year.
Going ahead, Mobileye plans to roll out an autonomous ride-hailing service in Israel in early 2022 and is looking to implement autonomous shuttles in partnership with Transdev ATS and Lohr Group in Europe.
However, Intel — carrying a Zacks Rank #4 (Sell) — needs to watch out for intense competition in the self-driving cars’ space. The alluring growth prospects of the autonomous vehicles’ market has drawn several tech and auto giants including the likes of General Motors, Toyota, BMW, Ford, Daimler AG, Alphabet’s (GOOGL - Free Report) Waymo, NVIDIA (NVDA - Free Report) , Tesla (TSLA - Free Report) .
You can see the complete list of today’s Zacks #1 Rank stocks here.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>