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Investing.com -- Mobileye (NASDAQ: MBLY) shares surged 8% premarket Tuesday after the company announced a partnership with Volkswagen (ETR:VOWG_p) Group and Valeo (EPA:VLOF) to enhance advanced driver assistance systems (ADAS) in Volkswagen’s upcoming MQB-based vehicles.
The collaboration is said to aim to streamline procurement, reduce complexity, and improve efficiency, integrating Mobileye’s Surround ADAS platform and Valeo’s sensor technology into a single centralized system.
The company explained that the new system will enhance safety and driving comfort, offering features like hands-free driving on approved highways, traffic jam assist, hazard detection, parking assist, and 360-degree emergency assist.
"This cooperation supports us on our road to transformation," said Dirk Große-Loheide, Volkswagen’s board member for procurement.
"By sourcing hardware and software together, we streamline procurement, reduce complexity, and improve efficiency."
Mobileye’s EyeQ 6 High processor and mapping technologies are expected to power the system, with Valeo providing high-performance ECUs, sensors, and parking solutions.
The integrated approach replaces multiple ECUs with a single unit, boosting system performance and efficiency while allowing over-the-air updates for evolving safety standards.
“We are excited to embark on a new journey and to offer to Volkswagen, together with Mobileye, this complete solution of affordable, state-of-the-art, advanced driving features for their end-users,” said Marc Vrecko, CEO of Valeo Brain Division.
“By improving efficiency and costs while upgrading capabilities for safety and comfort in driver assist, this system points the way to a new class of driving technology,” commented Mobileye CEO Amnon Shashua.
Volkswagen’s new ADAS-equipped vehicles are set to launch in the coming years.