Intel States No Plan to Divest Majority Stake of Mobileye

TapTechNews September 19th news, Intel released a statement today, stating that there is no plan to divest the majority stake of Mobileye.

Intel said:

As the major shareholder of Mobileye, Intel has always been focused on creating value and is full of expectations for the future of its business. We currently have no plan to divest the majority stake of Mobileye. By giving Mobileye independence and autonomy, we have enhanced its ability to seize growth opportunities and accelerated its pace of creating greater value. We believe in the future of self-driving technology and believe that Mobileye has a unique role as a leader in developing and deploying advanced driver assistance systems (ADAS).

Intel acquired Mobileye in 2017 for $15.3 billion (TapTechNews note: currently about 108.469 billion yuan) and then promoted this Israeli company to go public in the US in 2022. Intel sold some of the Mobileye shares last year, recycling $1.48 billion (currently about 10.492 billion yuan) of funds.

Due to reasons such as the slowdown of the electric vehicle market and the continuous high level of customer inventory, Mobileye's operating conditions have deteriorated in recent years, with losses for two consecutive years, and Mobileye's stock price has dropped by about 72% since this year.