Investor Gary Black addressed a common misconception among Tesla Inc. (NASDAQ:TSLA) enthusiasts regarding Mobileye Global Inc. (NASDAQ:MBLY) and its lidar technology. On Tuesday, Black posted that Mobileye is not discontinuing lidar use but opting to source it externally.
What Happened: Black emphasized that Mobileye will purchase lidar units from third-party vendors instead of developing them in-house. He urged readers to understand the full context before jumping to conclusions.
"Once again, some Tesla bulls misreading the headlines," he wrote.
Israel-based Mobileye, which is owned by Intel, and Tesla were partners in developing Elon Musk-led EV giant's Autopilot autonomous-driving device. However, the partnership ended in 2016 when Mobileye turned to BMW to develop the latter's self-driving vehicles.
Once again, some $TSLA bulls misreading the headlines. $MBLY is not ending use of lidar in their autonomous driving systems. They will buy lidar units cheaper from third party vendors rather than develop lidar units internally. Please read the article. "Mobileye has chosen to...
— Gary Black (@garyblack00) September 10, 2024
Black's post was in response to a post by investor Sawyer Merritt, who reported that Mobileye is ending its lidar development and laying off about 100 employees.
Why It Matters: The clarification from Black comes amid reports that Intel Corp (NASDAQ:INTC) is considering a strategic stake sale in Mobileye, which has impacted the stock's performance. Mobileye's decision to source lidar externally could be a strategic move to cut costs and focus on other technological advancements.
Mobileye recently reported a 3% revenue decline in the second quarter of 2024 but managed to beat analyst expectations. The company faces challenges in the second half of the year, as highlighted by its CEO.
Price Action: Mobileye was trading 0.90% higher during Tuesday's pre-market after closing 3.46% lower on Monday, according to Benzinga Pro.
Tesla Won Some Brownie Points By Not Doing Anything Wrong Like GM, Volkswagen, Says Industry Watcher, Calls FSD Elon Musk's 'Passion Project'
Photo via Wikimedia Commons
This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
投資家のゲイリー・ブラック氏は、テスラ株式会社（NASDAQ:TSLA）の愛好家の間にあるMobileye Global Inc.（NASDAQ:MBLY）とそのライダー関連技術に関する一般的な誤解に対処しました。ブラック氏は火曜日に投稿しましたが、Mobileyeはライダーの使用を中止しているのではなく、外部から調達することを選択していると述べました。
オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
Israel-based Mobileye, which is owned by 
インテルの傘下にあるイスラエルのMobileyeとテスラは、Elon Musk率いるEV大手のAutopilot自動運転装置の開発パートナーでした。しかし、Mobileyeは2016年にBMWと提携し、後者の自動運転車両の開発に取り組むことになりました。