Categories
Latest News

Intel solidifies robotaxi plans with $900M acquisition of Moovit

Advertisement

Intel i9

Intel i9Source: Intel

What you need to know

  • Intel has acquired public transit app Moovit for $900 million.
  • The move marks a step toward the company's eventual goal of becoming a "complete mobility provider."
  • Moovit boasts, according to Intel, 800 million customers across 3,100 cities.

Autonomous driving is expected to become a multi-billion dollar industry within the next decade, and Intel just planted its flag in the space — a $900M flag, to be precise. That's the price the chipmaker is paying to acquire Israeli public transit app Moovit, which allows users to map out their travel via public transit in 3,100 cities across 102 countries. The app, according to Intel, boasts 800 million users across the globe.

The chipmaker explains its splurge as follows:

The addition of Moovit brings Intel's Mobileye closer to achieving its plan to become a complete mobility provider, including robotaxi services, which is forecast to be an estimated $160 billion opportunity by 2030.

Mobileye, by the way, is another Israeli start-up the chipmaker has acquired in recent years, whose technology relates to the cameras found in self-driving cars and which, given the astronomical price tag of this acquisition, is seemingly spearheading Intel's ambitions in the space.

Best VPN providers 2020: Learn about ExpressVPN, NordVPN & more

"Mobileye's ADAS technology is already improving the safety of millions of cars on the road, and Moovit accelerates their ability to truly revolutionize transportation – reducing congestion and saving lives – as a full-stack mobility provider," said Intel CEO Bob Swan.

"Mobileye's business model encompasses the entire automated driving value chain," Intel says, and while Moovit's technology may not directly relate to autonomous driving itself, what it does bring to the table is the end-user facing part of Intel's mobility-as-a-service puzzle. After all, even a self-driving taxi needs to be told where to go and where the customers are; Moovit is the answer to that question.

Advertisement

Here's everything you need to know about the LG Velvet (aka the LG G9)Here's everything you need to know about the LG Velvet (aka the LG G9)

Here's everything you need to know about the LG Velvet (aka the LG G9)

Ready for a successor to the LG G8? It's coming soon, but it's not your typical upgrade. In place of an LG G9, this year we're getting the LG Velvet. Here's everything you need to know about the phone!

Google now rolling out May 2020 security patch to Pixel phonesGoogle now rolling out May 2020 security patch to Pixel phones

Google now rolling out May 2020 security patch to Pixel phones

While you're celebrating Star Wars Day, Google is using May 4 to roll out the May 2020 security patch to Pixel devices. Here's a look at what's new for this month!

Advertisement

9 Mother's Day Gifts Your Mom Will Actually Use in 20209 Mother's Day Gifts Your Mom Will Actually Use in 2020

9 Mother's Day Gifts Your Mom Will Actually Use in 2020

This is not a normal year, and you should not be buying your mom a normal Mother's Day present for it. Skip the dead flowers and dark chocolates and get Mom something that she can actually use in these bizarre times.

Use one of these cases to protect your Galaxy A21 from when life happensUse one of these cases to protect your Galaxy A21 from when life happens

Use one of these cases to protect your Galaxy A21 from when life happens

Life happens to everyone, and it ends up affecting to our smartphones at some point in time. Drops, scratches, bumps, and bruises all happen, and that’s why you’ll want to get a case for the new Galaxy 21.

Original Article

Advertisement

Leave a Reply

Your email address will not be published. Required fields are marked *