Mobileye NV (NYSE:MBLY)’s opportunities going forward were discussed by the company’s co-founder, Chief Technology Officer and Chairman, Professor Amnon Shashua, in an interview on CNBC.
The interview with the Mobileye NV (NYSE:MBLY) co-founder comes after the company has just reported its second quarter results. The maker of camera-based driver assistance technologies reported non-GAAP earnings per share of $0.05 on $33.7 million in sales for the second quarter.
This is the first quarterly report from Mobileye NV (NYSE:MBLY) after its initial public offering which it just completed on August 6.
According to Prof. Shashua, the initial public offering of the company marked an important move for his company because it not only raised capital but also raised awareness of the company in what he calls a “very important time in the auto-safety industry”.
He said that this is an important phase in the automotive safety industry because there are coming regulatory changes in the industry and new driving functionalities which are being developed.
He noted that regulatory changes mandating active safety technologies – technologies that help drivers avoid or mitigate accidents, like those developed by Mobileye NV (NYSE:MBLY) – in order to get four- and five-star safety ratings for cars will be beneficial to his company.
He said that these regulatory changes started in 2011. This year, there was a major change in Europe regulations, he added. By 2017 or 2018, almost every new car will need to have technologies like those developed by his company, he said.
Furthermore, he added that another area of rapid growth for Mobileye NV (NYSE:MBLY) is automated driving. However, he did specify that his firm’s primary focus is in advanced active safety tools for drivers and that automated driving is only a layer on top of this primary focus. Nonetheless, it is a growth opportunity for Mobileye NV, said Prof. Shashua.
According to Prof. Shashua, his company is launching semi-automated driving systems with two car manufacturers in 2016. His company is also working with another six car manufacturer in “pre-development phases”.
Prof. Shashua said that his company’s safety systems feature accident avoidance at lower speeds, accident mitigation at higher speeds, and pedestrian and vehicle collision avoidance. In the future, his firm’s technologies will feature animal collision avoidance and traffic sign and traffic light reading, he said.