Why AI-Powered ADAS Technology Company Mobileye Shares Are Rising Today

Mobileye Global Inc. MBLY, an AI-powered Advanced Driver Assistance Systems (ADAS) technology company, reportedly introduced an operating system called DXP.

DXP is designed to help automakers develop custom-made self-driving systems and save time by not building costly programs, Bloomberg reported.

"DXP is a driving experience platform," Mobileye Chief Executive Officer Amnon Shashua said in a Bloomberg Television interview. 

The software includes the universal components that all automakers require and lets them add their customization, Shashua said, speaking from the CES conference in Las Vegas, as per the report.

Earlier today, the company said it is expanding its existing relationship with Mahindra & Mahindra Ltd. (M&M), an automotive, farm, and services business in India. 

Mobileye will collaborate with M&M to introduce multiple solutions based on Mobileye's next-generation EyeQ 6 systems-on-chip and sensing and mapping software, including an intent to build a full-stack autonomous driving system.

"As more advanced models emerge, we see great opportunities for growth in India and look forward to executing with Mahindra to bring Mobileye SuperVision-based services to one of the most challenging driving environments in the world," Shashua said in a press release.

Price Action: MBLY shares are trading higher by 3.15% to $32.42 on Tuesday.