Intel's Mobileye Targets US Autonomous Electric Shuttles From 2024

Intel Corp's INTC Mobileye unit looks to build and deploy self-driving electric shuttles with its partners in the U.S. in 2024.
Mobileye, Benteler EV Systems, and Beep will launch the on-demand driverless shuttles, which will feature 12 to 14 seats and no steering wheel or pedal, Reuters reports.
They will operate the vehicles in "contained geo-fenced areas" where speed limits are 35 miles an hour or less.
Mobileye looks to deploy robotaxis in Israel and Germany by the end of 2022, pending regulatory approval.
Mobileye is also working with Silicon Valley startup Udelv to put automated electric delivery vehicles into service in the U.S. by 2023.
The shuttles will help save on driver costs, address driver shortages, and address urban problems such as emissions and congestion, Mobileye said.
Benteler EV Systems, part of German automotive parts group Benteler International AG, will build shuttles compliant with automotive industry and safety standards.
Price Action: INTC shares traded higher by 0.06% at $47.66 on the last check Monday.