With a 28-percent jump in its stock price due to Intel’s (INTC) offer to buy it for $15 billion, Mobileye (MBLY) led the Driverless Transportation Weekly Stock Index (D20) to its first ever closing value over 190.
With 15 stock price gainers and only five losers, the D20 jumped 4.3 percent, or 7.84 points, to close at 191.33, a record high.
With the Mobileye purchase offer, Intel seems to be playing catch-up in the driverless space, countering Qualcomm’s purchase of NXP Semiconductors.
In Mobileye, Intel is buying a software business that, according to software industry analyst IHS, currently owns about 70 percent of the world market for driver-assistance systems, including automatic braking, pedestrian detection and lane centering. Mobileye has commercial relationships with 23 automakers, including BMW and Ford.
After the Board of Directors of both companies approve the transaction and Mobileye disappears as a separate entity, we at Driverless Transportation will have to select a publically-traded replacement company for the D20. We need your suggestions in the comments!
Visit the Driverless Transportation D20 Stock Index page to learn more about it and its component stocks.
Lucid Motors has announced a price for its Lucid Air entry-level model that debuted in December of 2016. Although they have not set an availability date, they are taking deposits for the $60,000 entry-level version, which doesn’t include an estimated $7,500 federal rebate for electric vehicles. The entry-level version will include standard options like a 240-mile range, 400 horsepower, and all the hardware necessary for autonomous driving.