Date
17 October 2019
Mobileye is leading a push among Israeli tech firms for a greater presence in the China market. Photo: Reuters
Mobileye is leading a push among Israeli tech firms for a greater presence in the China market. Photo: Reuters

Israel’s Mobileye strikes two new deals in China

Mobileye, which makes technology for autonomous driving, said on Tuesday that it is expanding its business in China with two new partnerships, Reuters reports.

One deal saw the Israel-based firm ink a memorandum of understanding with Great Wall Motors.

Under the partnership, Mobileye will integrate advanced driver assistance systems in a range of vehicles over the next three to five years and help develop more advanced autonomous systems.

A second partnership with Beijing Public Transport Corp and Beijing Beytai aims to bring autonomous technology to public transport.

Mobileye did not disclose financial details of the deals, according to the report.

“There is a strong pull for Israeli technology in China,” Erez Dagan, Mobileye’s vice president of product and strategy, told Reuters.

Mobileye, acquired by Intel in 2017 for US$15 billion, has been making inroads in China, the world’s biggest auto market where self-driving projects are being rolled out at pace.

The Israeli firm signed 16 deals in China last year, when half of the company’s design wins were Chinese, according to Dagan.

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