Mobileye Global (Nasdaq: MBLY) says that it sees a revenue pipeline of ADAS business through 2030 of greater than $17 billion, including $3.5 billion of projected revenue from SuperVision, an ADAS product that was only launched in the fourth quarter of 2021.
At the CES 2023 electronics show in Las Vegas, Mobileye also reported high revenue growth in 2022, thanks to other new products such as like EyeQ6 system-on-chip. The company says that over the course of 2022 it added $6.7 billion projected revenue in ADAS, across projected future volume of 63.6 million systems.
In addition to ADAS, Mobileye announced an additional $3.5 billion in expected revenue from Autonomous Mobility-as-a-Service products through 2028, based on deals with three major partners, including a recently secured mobility-as-a-service AV program with a leading EU commercial vehicle builder. Mobileye says it also has line of sight for $1.5 billion in revenue from a single consumer AV (Mobileye Chauffeur) program through 2030.
Mobileye founder and CEO Prof. Amnon Shashua said, "In the short time since we went public in October, Mobileye’s business has accelerated substantially. We’ve seen strong positive response from our existing customers and new automakers as well who believe in our vision for building cloud-connected, AI-driven driver assist and autonomous technology that can scale globally and provide meaningful benefits to millions of drivers worldwide."
Mobileye reports that its SuperVision "eyes-on, hands-off" system, that is, autonomous driving from point to point with driver supervision but not active control, is seeing strong customer demand in China, where more than 70,000 Zeekr 001 EV owners will soon get an additional over-the-air update that unlocks key mapping-based features. Zeekr is the premium EV brand of Geely. SuperVision will also be included in the upcoming Zeekr 009, along with near-term global launches on models from three other brands under the Geely Group umbrella.
The company says that by combining a camera-only sensing system with its key mapping and decision-making technology, SuperVision gives automakers an affordable, flexible platform for eyes-on, hands-off driving. The system will later incorporate the radar chip and lidar sensor that Mobileye is developing.
Mobileye reports that, following its success in penetrating the Chinese market, it is also expanding its business in Europe, and that it has started development work with a premium European automaker for programs targeting delivery in 2025, with other customers at advanced stages of development. Overall, Mobileye now expects volume of SuperVision based vehicles to reach about 1.2 million units in 2026.
According to Mobileye, some 233 models launched globally with Mobileye technology inside last year.
Mobileye has a market cap of $23.9 billion.
Published by Globes, Israel business news - en.globes.co.il - on January 5, 2023.
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