Mobileye Selected by Polestar to Provide “Mobileye Chauffeur” for Polestar 4

by Warren Seah

Mobileye, the company known for its driver-assistance technologies, has been chosen by EV start-up Polestar Automotive to supply the “Mobileye Chauffeur” for its Polestar 4 model. The notable factor is the price point.

The “Mobileye Chauffeur” is a turnkey solution that transforms consumer vehicles into eyes-off and hands-off systems. It incorporates camera, radar, and lidar sensors, as well as software. With a target cost per car of under $6,000, Mobileye aims to make autonomous driving more affordable.

Comparatively, Tesla offers its Full Self Driving (FSD) product for $15,000 and its Enhanced Autopilot for $6,000. However, these systems require continuous driver engagement and are considered level 2 autonomous. Tesla anticipates that FSD will eventually evolve into a higher-functioning self-driving system.

It’s important to note that the $6,000 price offered by Mobileye is directed toward the automaker, rather than the consumer.

Although fully self-driving cars have not yet hit the roads, most current systems fall under level 2 autonomy. Level 2 systems typically include features like automatic emergency braking, adaptive cruise control, and lane-keeping assistance.

The Mobileye Chauffeur aims to surpass level 2 autonomy by enabling cars to handle all highway driving tasks. Additional driving situations will be added over time. The system is expected to be ready by late 2024 or 2025, coinciding with the release of the 2025 model year Polestar 4 vehicle.

Polestar CEO Thomas Ingenlath expressed enthusiasm about the partnership in a press release, stating, “We are very keen to push innovation in our performance electric vehicles together with Mobileye. We know that driving yourself is not always fun and exciting. This technology means our customers could enable autonomous driving when they want, making all future journeys enjoyable.”

Mobileye stock rose by 0.5% in premarket trading, while futures for the S&P 500 and Nasdaq Composite also showed slight gains of 0.3% and 0.2% respectively. Meanwhile, Polestar stock experienced a 0.6% increase.

Over the past three months, Mobileye stock has declined by approximately 20%, whereas Polestar shares have seen a 10% increase.

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