Mobileye, an Intel subsidiary developing technology for self-driving vehicles, is discontinuing its aftermarket solutions unit, which focuses on retrofitting advanced driver assistance systems (ADAS), due to reduced market demand and declining revenue as the automotive industry shifts toward integrated ADAS in new vehicles.
The aftermarket unit, which contributed significantly to Mobileye's early growth, is now reportedly underperforming. With an annual revenue of around USD 40 million, it has not been profitable for some time.
Mobileye plans to reallocate its resources toward ADAS and autonomous driving technologies, with no significant impact anticipated on the 2024 financial results. However, this will result in layoffs of about 130 employees (approximately 3.5% of the staff).
By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.