Mobileye Global (NASDAQ:MBLY) shares are in the green at the time of writing after the autonomous driving and driver-assistance technologies provider launched the world’s first camera-only intelligent speed assist (ISA) solution for automobile manufacturers. The vision-only technology has undergone testing and meets new requirements in the European Union. As a result, the solution is anticipated to help global auto producers comply with new General Safety Regulation (GSR) standards in the EU.
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These standards necessitate autosensing of speed limits in new vehicles without any reliance on third-party maps or GPS data. Impressively, the new software has received certification in all European Union countries, as well as in Norway, Switzerland, Turkey, and Israel. Moreover, the solution is expected to be integrated into two new vehicle brands by a major global automaker later in 2023, and three other automakers are expected to follow suit next year and after.
Overall, the Street has a $47.59 consensus price target on Mobileye alongside a Strong Buy consensus rating. Shares of the company have surged nearly 30.6% over the past six months.
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