The company previewed its five-year strategy on Monday at the week-long 2021 Consumer Electronics Show, where Mobileye CEO Amnon Shashua was scheduled to present.
"The backing of Intel and the trinity of our approach means that Mobileye can scale at an unprecedented manner,” Shashua said in a statement.
“From the beginning, every part of our plan aims for rapid geographic and economic scalability -- and today’s news shows how our innovations are enabling us to execute on that strategy.”
Shashua will also explain how Intel's specialized silicon photonics tab is "game-changing" because it can put active and passive laser elements on a silicon chip.
Intel purchased the Jerusalem company in 2017. Mobileye has about 80% of the market for advanced driver-assistance vision systems, according to Bloomberg.
The company currently uses cameras and software for driver-assistance systems in vehicles. This new technology is expected to help the company develop inexpensive self-driving software within five years.
“The ultimate holy grail is that everyone can go and purchase a car and have that car be autonomy-enabled,” he said in an interview with Bloomberg Television.
“That’s a dream that can come true in the 2025 time frame. We are in serious discussions with several car manufacturers to start taking this kind of technology.”
At last check, Intel shares were trading off 0.2% at $51.53. It's trading in the middle of the range of its 52-week low of $43.61, set in October, and 52-week high of $69.29, set almost a year ago.