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American multinational corporation and technology specialist, Intel, has announced it will spend $15.3 billion (AU$20b) to buy Mobileye, an autonomous vehicle technology firm based in Israel.
According to a report by CNBC, the deal with Mobileye places Intel square in the middle of the competition with the likes of Tesla and several other truck start-ups to develop driverless systems for global automakers.
“Much of Mobileye’s current business is designing autonomous safety systems for heavy trucks,” CNBC said. “The company’s sensor-based systems warn drivers of pending hazards and automatically apply the brakes if the software believes a crash is imminent. Trucking companies are purchasing the systems in an effort to improve fleet safety and minimize collision risk.
“Heavy duty trucks are already familiar with Mobileye’s safety technology. Mitsubishi Fuso plans to offer Mobileye 6 Series Collision Avoidance Systems on all of its 2017 Fuso FE and FG series medium-duty commercial trucks. Mobileye is also working with European commercial vehicle manufacturers to provide collision mitigation technology.”
The deal is expected to close later this year.
Meanwhile, US tech business, NVIDIA, also confirmed this week that it is working with PACCAR on developing solutions for autonomous vehicles.
The collaboration was recently shared by NVIDIA Founder and CEO, Jen-Hsun Huang, during his keynote at the Bosch Connected World conference in Berlin. “This is probably the largest single mass of a product that we’ve helped make,” Huang told a crowd of more than 2,000 executives, developers and others attending the event.
PACCAR CEO Ron Armstrong, added. “PACCAR is exploring automated driving systems and we are excited about what our collaboration on artificial intelligence with NVIDIA has delivered so far.”