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Volkswagen is partnering with Valeo and Mobileye to enhance its driver assistance systems to Level 2+ in upcoming models built on the MQB platform.
Mobileye Global, Inc. (MBLY) shares ended over 8% higher on Tuesday and climbed marginally in after-hours trading after the autonomous driving technology firm revealed a partnership with a European auto giant.
Volkswagen (VWAGY) is partnering with Valeo and Mobileye to enhance its driver assistance systems to Level 2+ in upcoming models built on the MQB platform.
The upgrade, which will be rolled out in the next few years, aims to improve safety and driving comfort while meeting regulatory standards.
The system will enable hands-free driving on approved highways and include features like traffic jam assist, hazard detection, parking assist, driver monitoring, and 360-degree emergency assist.
Future updates may also incorporate augmented reality displays.
That announcement sent message volume for Mobileye on Stocktwits soaring by 4,900% over the last 24 hours, with sentiment remaining ‘bullish’.
One watcher on the platform was encouraged by the broad prospects presented by Mobileye’s autonomous driving technology.
Another wondered if it was a good time to enter the stock.
Mobileye got a major boost last month after BofA Securities upgraded the stock, saying that it sees the company’s 2025 guidance as offering stability despite cautious views on growth and profitability.
The bullish call from the Wall Street brokerage came close on the heels of a report about ride-hailing company Lyft planning to introduce fully autonomous robotaxis, powered by Mobileye, on its platform in Dallas as soon as 2026.
Shares of Mobileye are trading at an about 21% discount to analysts’ average price target of $20.13, according to Koyfin data.
Of the 28 analysts covering the stock on Wall Street, 12 recommend ‘buy’, four ‘strong buy’, 10 ‘hold’ and two ‘strong sell.’
Mobileye stock is down more than 17% year-to-date.
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