Ford (F) and Intel’s (INTC) Mobileye have announced that they are expanding their relationship to offer better camera-based detection capabilities for driver-assist systems. This includes improved forward collision warning, vehicle, pedestrian and cyclist detection, plus lane-keeping features.
Mobileye will provide its EyeQ family of devices, together with vision-processing software to support Level 1 and Level 2 driver-assistance systems in Ford vehicles globally.
Level 1 systems are defined as automating a single part of the driving experience, such as steering or acceleration/deceleration, while Level 2 systems provide both steering and acceleration/braking support. Both require drivers to supervise performance of the vehicle.
As part of the agreement, new production vehicles will use Mobileye’s EyeQ computer chips and software to support features under the Ford Co-Pilot360 Technology.
Used to help precisely identify what the windshield camera in a vehicle can see – including lane markings, traffic signs, pedestrians and other vehicles – Mobileye’s technology will support features such as Lane-Keeping System, Auto High-Beam headlamps, Pre-Collision Assist with Automatic Emergency Braking and Intelligent Adaptive Cruise Control, as well as Active Drive Assist hands-free driving coming to the all-new Mustang Mach-E and all-new F-150.
Ford will also use Mobileye’s technology throughout the life of its next-generation production vehicles, including F-150 and Mustang Mach-E, as well as future products that offer advanced driver-assistance systems features.
While Ford and Mobileye have worked together for years, this marks the first time Ford has committed to use Mobileye’ technology for the entire lifecycle of its next-generation vehicles. Both parties will work with designated Ford Tier 1 providers to supply the technology for vehicle integration.
“Providing people with extra confidence while driving is invaluable, and it’s exactly what our available Ford Co-Pilot360 features are designed to do,” said Lisa Drake of Ford. “By customizing Mobileye’s excellent software and sensing technology, Ford’s great driver-assist features will continue to evolve and provide customers with confidence on the road throughout the life of their vehicles.”
Shares in Ford are currently trading down 27% year-to-date, and analysts have a cautious Hold consensus on the stock. That’s with an average analyst price target of $6.41, indicating that shares could pullback a further 6% from current levels. (See F stock analysis on TipRanks).
“Ford’s strong product pipeline narrative continued with the well-received Bronco/Bronco Sport reveal (following new F-150 reveal). We expect production of the Bronco Sport to begin late 3Q20 and Bronco 1Q21” commented RBC Capital analyst Joseph Spak on July 19.
He estimates that the Bronco/Bronco Sport could add >$1bn incremental revenue (maybe close to $2bn absolute) when the run-rate is achieved. “But, we caution against playing product cycle too early (we’ve seen it before) as Ford is likely not to hit their stride on F-150/Bronco product cycle until mid-2021” the analyst warned investors. Spak has a hold rating on F and $6.50 price target.
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