U.S: In mid-2022, Intel plans to go public in the United States with its subsidiary Mobileye, a market leader in driver-assistance and autonomous driving systems. Intel purchased Mobileye in 2017 and now owns 100% of the company's shares.
Intel said in a press release on Monday that following the conclusion of the initial public offering (IPO), it would retain majority ownership of Mobileye and the two firms will continue to collaborate on projects as they pursue the growth of computing in the automotive sector. The chipmaker has no plans to spin off or otherwise divest its majority stake in the company.
Mobileye shipped its 100 millionth EyeQ system-on-chip (SoC) this year, scaled autonomous vehicle (AV) test programmes across various locations in the United States, Europe, and Asia, and won 41 new ADAS programme wins from more than 30 manufacturers across the world. The business also unveiled its first production-grade, six-passenger, all-electric, self-driving robotaxi, which will hit Munich's streets next year.
The move, according to Intel, would unlock the value of Mobileye for its shareholders by forming a new publicly traded company that will build on the firm's outstanding track record and serve a larger market.