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Auto camera company Mobileye broke ties with Tesla Motors several months ago following the incidents involving car crashes while the Autopilot feature was on. The two companies have exchanged barbs a few times since, highlighting how contentious the parting was. Now, it would seem that Mobileye has found a new partner in German mapping consortium, HERE.
Since its separation from Tesla, Mobileye’s stock prices haven’t fared well in the market, but it rose by 9.8 percent after the announcement of the new partnership, Bloomberg reports. With the computer vision specialist’s history of working with Tesla, Mobileye was an attractive prospect for German automakers who are still struggling to implement the technology in their own vehicles.
The new deal is imperative for carmakers to remain competitive as well, with companies like Honda partnering with Google set to take the industry by storm in the next few years. Since automated driving is all but declared the future of the auto industry, it only makes sense that Mobileye would find a wing to take shelter under.
Despite its stumble in the market, it would seem that Mobileye is still a huge bet at Wall Street. Analysts looking into the stock are rating it as a must buy 18 to 5.
Now, since HERE is a mapping group, it significantly narrows the types of services that Mobileye is required to provide. Specifically, the tech company will be using its Roadbook service to pair with the HD Live Map of HERE, TechCrunch reports.
This is meant to improve the information about roads that the onboard computers will be able to use to infer what can be expected with any given route. It, therefore, helps to make sure that when engaging the autonomous driving aspect of the car, it will have a far easier time knowing where to go, what to avoid, and what to detect.
