Lifesaving on-board systems (illustration)
Mobileye awarded $150m contract
Israeli developer of on-board driving assistance systems signs three-year, multi-million distribution deal with leading Italian company
Israel's Mobileye Vision Technologies has recently signed a $150 million contract with Italy's Cobra Automotive Technologies.
Founded in 1999 by Prof. Amnon Shaashua and Ziv Aviram, Mobileye specializes in developing vehicle vision systems for on-board driving assistance systems.
Mobileye and Cobra have signed a three-year distribution agreement, for the Mobileye Advance Warning System (AWS), which is a driver assistance system meant to help prevent accidents.
The system will be sold to passenger car and light commercial vehicles (up to 3.5 tons) owners, insurance companies and Original Equipment Suppliers, throughout Europe.
The AWS is the only driver safety system to offer an all-in-one forward collision warning, lane departure warning and headway monitoring system, on the market today.
The system also includes a "smart camera" located on the front windshield inside the vehicle, which detects and measure the distance to vehicles and to lane markings, providing the driver with timely alerts in case of danger.
"We see an excellent opportunity to sell and support the Mobileye Advance Warning Systems in the after-factory fit market. The Mobileye systems fit the Cobra strategy of mitigating risks associated to driving a vehicle and are a welcome addition to the Cobra security product range," said Cobra CEO Carmine Carella.
"Mobileye applauds Cobra's approach to equipping drivers with safety and security. As drivers continue to risk and lose their lives by driving inattentively, a growing statistic due to the flurry of in-car distractions and increasing traffic, Cobra will provide drivers with a variety of driving solutions to suit any budget," said Ziv Aviram, CEO of Mobileye Vision Technologies.
Mobileye has similar contracts with Australian and US-based companies. Its technology has been launched by BMW 5 Series, 6 Series, 7 Series, Volvo S80, XC70 and V70 models, and Buick Lucerne, Cadillac DTS and STS.
