Why Autonomous Driving Software Company Mobileye Shares Are Surging Today

Mobileye Global Inc MBLY shares are trading higher after its partnership with Volkswagen AG VWAGY in the field of automated and autonomous driving. 

The two companies will bring new automated driving functions to series production.

Mobileye will provide technologies for partially and highly automated driving based on its Mobileye SuperVision and Mobileye Chauffeur platforms.

Volkswagen Group’s Audi, Bentley, Lamborghini, and Porsche brands will use the technologies to launch new premium-oriented driving functions to their model portfolios across powertrain types.

The technologies include advanced assistance systems for highway and urban driving, such as automated overtaking on multilane highways, as well as automatic stopping at red lights and stop signs, and support in intersections and roundabouts. 

Mobileye will also supply further technology components for automated driving to Volkswagen commercial vehicles.

“New automated driving functions will significantly boost convenience and safety,” said Oliver Blume, CEO of the Volkswagen Group and Porsche AG.

“These functions, which will be tailored to our brands and products, will make every trip a personal, individual experience.”

Price Action: MBLY shares are trading higher by 4.12% at $29.54 in premarket on the last check Wednesday.

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