Intel's Mobileye sets audacious new self-driving car path
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Intel (NASDAQ:INTC) might be planning on spinning off its Mobileye automotive technology unit in the near future, but for now, the semiconductor giant is still fully behind the wheel with Mobileye's latest self-driving efforts.
That was on display at the Consumer Electronics Show in Las Vegas, when Intel (INTC) said Mobileye has secured new autonomous driving technology partnerships with Ford (NYSE:F), Volkswagen (OTCPK:VWAGY) and China's Geely. The deal with Geely involves developing what is believed will be the world's first mostly self-driving car for the automaker's Zeekr brand that will begin production in 2023.

Intel (INTC) said the Geely Zeekr vehicle will be equipped with what is called Level 4 driving autonomy. That level will allow the car to be able to drive itself in most circumstances, but will also require a driver to remain behind the car's steering wheel. The car will use six Mobileye EyeQ 5 chips and road-mapping technology.
Mobileye also said it is expanding its relationship with Ford (F), and the automaker will use Mobileyeâs road-mapping data system in upcoming versions of Fordâs BlueCruise hands-free driving technology. Mobileye added that Volkswagen will begin using some of its automated driving systems in its vehicles.
The announcements come one month after Intel (INTC) said it would spin off Mobileye in an IPO to be held by mid-year. Mobileye is currently estimated to be worth as much as $50 billion.