Mobileye (MBLY), Intel (INTC) and BMW (BAMXY) are hosting a news conference today at 10:00 to announce autonomous driving plans; news of a fatal crash in a Model S using autopilot broke last night
Mobileye (MBLY), Intel (INTC) and BMW (BAMXY) are expected to announce an autonomous driving initiative at a news conference today at 10:00.
- Mobileye has said it expects the first fully autonomous cars on the road by 2021. MobilEye also flagged upcoming additional business development wins on its Q1 call in May. The hashtag tied to the event on MBLY's site is #futureofdriving2021.
- MBLY already works with effectively every auto OEM, providing semi-autonomous features, which are most prominent on Tesla (TSLA) EVs.
- MBLY surged 10% to an eight month high yesterday on the news.
Interestingly, yesterday afternoon, news broke that the NHTSA is opening a preliminary evaluation into the performance of Autopilot during a recent fatal crash that occurred in a Tesla (TSLA) Model S.
- Tesla downplayed the investigation on its blog last night, citing driving statistics and its controls and disclaimers about the autonomous features.
- The fatal crash was caused by a tractor trailer that came across the highway from the side and the driver never breaked.
- Current MBLY crash avoidance technology (automatic emergency braking) only prevents the Model S from 'rear ending' collisions.
Premarket price action: TSLA is down 3% premarket while MBLY is down 1.2%. BMW (OTC: BAMXY) is up 3% in Germany while INTC is down 0.2%; other stocks involved in autonomous driving: NVDA, NXPI, IFNNY, ALV.