FILE PHOTO: The Mobileye logo is seen during the Munich Auto Show, IAA Mobility 2021, in Munich, Germany, September 7, 2021. REUTERS/Wolfgang Rattay
December 7, 2021
(Reuters) -Intel Corp is planning to publicly list shares in its self-driving-car unit Mobileye, which could value the unit at more than $50 billion ,the Wall Street Journal reported on Monday, citing people familiar with the matter.
However, there are no guarantees Intel will ultimately follow through with an offering, the report said https://on.wsj.com/3ouxpWf, adding that the announcement is expected as soon as this week.
Intel declined to comment on the report when contacted by Reuters.
Intel, the largest employer of Israel’s high tech industry with nearly 14,000 workers, bought Israeli autonomous vehicle technology firm Mobileye for $15.3 billion in 2017.
The deal put U.S. chipmaker into direct competition with rivals Nvidia and Qualcomm to develop driverless systems for global automakers.
Mobileye, founded in 1999, has taken a different strategy from many of its self-driving car competitors, with a current camera-based system that helps cars with adaptive cruise control and lane change assistance.
(Reporting by Akriti Sharma in Bengaluru; Additional reporting by Sneha Bhowmik; Editing by Rashmi Aich)
