Published on June 24th, 2020 | by Zachary Shahan0
Intel Buys Moovit for Mobileye’s Mobility-as-a-Service Goals
June 24th, 2020 by Zachary Shahan
Intel is trying to pull a few key (but large) pieces together in order to remain a tech leader in 2025, 2030, and beyond.
Mobileye supplied Tesla’s first-generation self-driving hardware, until Tesla and Mobileye had a falling out in 2016 and Tesla went ahead and developed its own hardware. Then, in 2017, Intel acquired Mobileye (for a record $15 billion). Since then, behind the scenes — and sometimes in front of the scenes — Intel has been working feverishly to be a world leader in autonomous vehicles, robotaxis, fully self-driving delivery vehicles, etc. Apparently, this is all occurring under the wing of Mobileye.
“Mobileye’s business model encompasses the entire automated driving value chain, including the front-facing camera that powers most of today’s ADAS, conditional autonomy – also known as level 2+ – and the self-driving system (SDS) for self-driving shuttles and robotaxis as well as consumer autonomous vehicles (AVs). Mobileye has strong performance in every one of these categories with advanced vision sensing technology, crowd-sourced mapping capability (REM) and the Responsibility-Sensitive Safety (RSS) driving policy.”
Taking another step in the direction of robotaxis, Intel recently acquired Moovit. From the press release about that, we get a short description of Moovit: “Moovit is a Mobility-as-a-Service (MaaS) platform company best known for its mobile application that provides public transit and navigation data to simplify urban mobility in 3,100 cities around the world. Intel Corporation announced on May 4, 2020, that it would acquire the company. The app experience will not change and the company will continue to serve users, customers and partners with the exceptional level of service, professionalism and dedication they’ve come to expect.”
In other words, this is already the app many people use to get around the city without a car. It’s used by people riding buses, using bicycle and scooter sharing services, hailing on-demand taxis, and for carsharing.
Moovit has more than 800 million users in 102 countries. It was founded in 2012 in Tel Aviv, Israel, and had 200 employees at the time of acquisition last month.
“The addition of Moovit brings Intel’s Mobileye closer to achieving its plan to become a complete mobility provider, including robotaxi services, which is forecast to be an estimated $160 billion opportunity by 2030.”
Moovit is retaining its current brand, but it is being placed within the Mobileye business at Intel. “Mobileye is a growth engine for Intel as the company transforms for a world where the exponential growth of data fuels demand for technology solutions that can process, move and store more data faster,” Intel notes. “Intel is investing and expanding to serve new data-rich market opportunities, including the fast-growing market for ADAS, data and MaaS technologies, which together represent an opportunity totaling more than $230 billion by 2030.”
The acquisition cost Intel $900 million.