The next miracle of the car industry comes from Jerusalem?
Jerusalem is synonymous with biblical miracles. When it comes to the changing brilliance of the car industry, our thoughts turn to the Far East or Germany. In fact, it seems that a former start up from Jerusalem by the name of Mobileye is about to change all that.
Let’s abck track for a moment. For almost two decades, Mobileye has been creating algorithms to enhance car safety and prevent accidents. It is located on three continents and boasts partnerships with many leading manufacturers. By the way, if you were to walk into its offices in the Holy City, you will find a vibrant atmosphere albeit in a very modest building.
About a week ago, the company’s share price jumped about 10%, ahead of news of an expected announcement for further collaboration with BMW and Intel. Mobileye’s tech will be at the forefront of a new driverless car. For the record, this capital influx was not the first time recently that Israel had been in the news for the car industry. VW has recently thrown US$300 at Gett.
In fact, the scope of the Mobileye project is significantly larger than initially speculated. In an interview with the Hebrew press, Elad Sefati VP, has revealed that Mobileye is talking to 13 different manufacturers. The Jerusalem company will supply the navigational technology. In fact, there are five customers which are closing in on first stage production.
The hope is that the BMW automatic or drone car with the Jerusalem miracle pack will be ready for launch in 2021, and this will take place in Israel. How times have moved on.
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