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Item 1. Business

2025-02-13 compared with 2024-02-23 · 239 added, 248 removed, 407 unchanged (54% of the section changed)

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While still nascent, full autonomy - where a human is not actively engaged in driving the vehicle for extended periods of time - requires the autonomous driving solution to be capable of navigating any environment in any condition at any time.

Additionally, developing a technology platform whose decision-making process and resulting actions are verifiable is critical to enabling autonomous driving solutions at scale.

The ability to drive autonomously not only requires a substantial amount of data, but also a robust technology platform that can withstand the validation and audit process of global regulatory bodies.

Finally, the autonomous driving solution needs to be produced at a cost that makes it affordable.

The ability to drive autonomously not only requires a substantial amount of data, but also a robust technology platform that optimizes both precision ( i.e.

, safety) and recall ( i.e.

, availability) without compromise, and can withstand the validation and audit process of global regulatory bodies.

Further, the autonomous driving solution needs to be produced at a cost that makes it affordable.

We are building our technology platform to address these fundamental and significant challenges in order to enable a full spectrum of solutions, from ADAS to autonomous driving, with several incremental steps in between.

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We also believe that the breadth of our solutions, combined with our global customer base, represents a significant market opportunity for us.

Our platform is modular by design, enabling our customers to productize our most advanced solutions today and then leverage those investments to launch even more advanced systems in a modular and incremental manner.

Our solutions are also highly customizable, which allows our customers to benefit from our cutting-edge, verified, and validated core ADAS capabilities while also augmenting and differentiating their offerings.

Our platform is efficient and modular by design, enabling our customers to productize our most advanced solutions today and then leverage those investments to launch even more advanced systems in a modular and incremental manner.

Our solutions are also highly customizable, which allows our customers to benefit from the core technology supporting our advanced solutions while also augmenting and differentiating their offerings.

We have experienced significant growth since our founding.

For 2023, 2022 and 2021, our revenue was $2.1 billion, $1.9 billion and $1.4 billion, respectively, representing year-over-year growth of 11% in 2023 compared to 2022.

For 2024, 2023 and 2022, our revenue was $1.7 billion, $2.1 billion and $1.9 billion, respectively, representing a year-over-year decrease of 20% in 2024 compared to 2023 primarily due to a significant drawdown of excess inventory at our Tier 1 customers and a reduction in volumes shipped to China in 2024.

We currently derive substantially all of our revenue from our commercially deployed ADAS solutions.

We recorded net losses of $27 million, $82 million and $75 million in 2023, 2022 and 2021, respectively.

We recorded net losses of $3,090 million, $27 million and $82 million in 2024, 2023 and 2022, respectively, with the net loss in 2024 primarily being the result of recording a $2,695 million ($2,613 million, net of tax) non-cash impairment of goodwill in the third quarter of 2024.

Our Adjusted Net Income for 2024, 2023 and 2022 was $205 million, $659 million and $605 million, respectively.

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Management’s Discussion and Analysis of Financial Condition and Results of Operations – Non-GAAP Financial Measures” for a reconciliation of Adjusted Net Income to Net Income (Loss).

The adjustments to reconcile Net Income (Loss) with Adjusted Net Income are related to amortization of intangible assets, stock-based compensation expenses and expenses related to the initial public offering of Mobileye in October 2022 (the “Mobileye IPO”).

The adjustments to reconcile Net Income (Loss) with Adjusted Net Income are related to amortization of intangible assets, stock-based compensation expenses, impairment of goodwill, expenses related to the initial public offering of Mobileye in October 2022 (the “Mobileye IPO”) and related income tax effects where applicable.

The amortization of intangible assets consisting of developed technology, customer relationships and brands, is primarily a result of Intel’s acquisition of Mobileye in 2017 and, to a lesser extent, the acquisition of Moovit in 2020.

As of December 30, 2023, our solutions had been installed in approximately 800 vehicle models (including local country, year, and other vehicle model variations), and our System-on-Chips (“SoCs”) had been deployed in approximately 170 million vehicles.

As of December 28, 2024, our solutions have been installed in approximately 1,200 vehicle models (including local country, year, and other vehicle model variations), and our System-on-Chips (“SoCs”) have been deployed in over 200 million vehicles.

We are actively working with more than 50 Original Equipment Manufacturers (“OEMs”) worldwide on the implementation of our ADAS solutions.

For the year ended December 30, 2023, we shipped approximately 37.4 million of our EyeQ™ SoC and SuperVision TM systems, of which the substantial majority were EyeQ™ SoCs.

This represents an increase from approximately 33.7 million systems that we shipped in 2022 and approximately 28.1 million systems that we shipped in 2021.

For the year ended December 28, 2024, we shipped approximately 29.0 million of our EyeQ ™ SoC and SuperVision ™ systems, of which the substantial majority were EyeQ ™ SoCs.

This represents a decrease from approximately 37.4 million systems that we shipped in 2023, and approximately 33.7 million systems that we shipped in 2022, primarily due to a significant drawdown of excess inventory at our Tier 1 customers and a reduction in volumes shipped to China in 2024.

We were founded in Israel in 1999.

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Our Technology Platform is Built to Enable the Full-Stack of Autonomous Solutions

Our technology platform, which includes our software and hardware intellectual property, leverages our decades of experience as a technology leader for sensing and perception solutions for the automotive industry and our focused efforts to build highly scalable and cost-efficient autonomous solutions.

Our technologies are foundational to the development and deployment of our ADAS and AV capabilities.

Our platform is built on five fundamental pillars:

● highly advanced, road-tested, sensing and perception technologies built upon years of technology leadership in computer vision and powered by our mission critical software and purpose-built EyeQ™ family of SoCs;

● a high-precision mapping system, our Road Experience Management™ (“REM™”), that generates AV maps from crowd-sourced data that is uploaded and analyzed in the cloud from REM™-equipped production ADAS solutions that are deployed on vehicles on the road;

● a redundant sensor fusion architecture, which we call True Redundancy™, designed to employ two independent perception subsystems - one based solely on cameras, and the other solely on a radar-lidar subsystem, to enable our goal of building a fully autonomous driving-system that can be validated as safer than human-driven vehicles and deployed in a cost-efficient manner;

● the design of next generation imaging-radars, a solution targeted to reduce the need for multiple lidar sensors, combined with a single front-facing lidar sensor in the redundant sensor configuration of the future, to enable our goal of building a cost-effective fully autonomous driving-system;

● our Responsibility-Sensitive Safety (“RSS”) framework, which has continuously been optimized since it was first published in 2017, is used by international bodies that are currently developing standards with respect to the safety of AV, and forms the backbone of our human-like, computationally efficient, driving policy and decision-making engine.

These five pillars form the core of our platform, which is highly customizable, and we intend to deploy them with increasing functionality to continue to enhance our market-leading ADAS solutions and lead the evolution to autonomous driving solutions.

● Computer Vision Processing .

Mobileye’s history as a cutting-edge deployer of AI-based solutions in the real world starts with our expertise in computer vision processing.

ADAS solutions are responsible for saving lives and must meet very high-performance metrics with extreme levels of efficiency, as well as pass increasing oversight from regulatory bodies.

“Good enough” is simply not acceptable.

The precision requirements for advanced solutions in the Premium ADAS and AV segments are even more exacting.

We are a technology leader for computer vision technology for ADAS, largely through front camera solutions, and we have continuously enhanced our leadership position through our ability to meet the extreme performance, accuracy, and cost metrics of our OEM customers.

In recent years, we have expanded our capability to enable creation of a 360-degree world-view through the processing of multiple cameras placed around the vehicle to support our portfolio of advanced solutions.

Our products primarily use monocular camera processing that works accurately alone, or together with radar and lidar for redundancy.

The software supporting camera processing is diverse, including end-to-end neural network processing (both 2- and 3-dimensional) and model-based techniques, among other approaches, This compound AI system structure leads to internal redundancies within the camera-based perception system that enhances precision through design.

We have been responsible for many “industry first” launches using monocular vision processing, and have enhanced our computer vision capabilities over time to include multiple cameras such as the trifocal camera configuration (three cameras with different fields of view placed side-by-side facing forward), which has been in series production since 2018, and the 11-camera configuration on our Mobileye SuperVision ™ solution, which was launched in late 2021.

● Road Experience Management ™ .

Our Road Experience Management ™ (“REM ™ ”) technology generates high-precision maps to support advanced ADAS and autonomous vehicle systems from crowd-sourced data that is uploaded and analyzed in the cloud from REM ™ -equipped production ADAS solutions deployed on vehicles on the road.

REM ™ is a cloud-based system that leverages the broad installed-base of REM ™ -equipped vehicles to build Mobileye Roadbook ™ , our crowd-sourced, high-precision definition maps of roads from around the world.

Our REM ™ mapping system harvests small packets of Road Segment Data from various vehicle models produced by our partner OEMs that are equipped with special processing software that extracts only the relevant information necessary to support increasing levels of ADAS and autonomous driving.

In 2024 alone, we collected 29.6 billion miles of road data from, based on our estimates, 3 million REM ™ -enabled vehicles worldwide.

The Road Segment Data is uploaded to the cloud where our software automatically creates and updates a detailed and accurate model of the road.

Our REM ™ mapping system seamlessly creates high-precision maps from such Road Segment Data in the cloud at centimeter-level detail, which are then delivered to the edge and integrated with our computer vision engines to provide vehicles with real-time intelligence, including situational awareness, context, and foresight.

Mobileye Roadbook ™ was designed to provide the driving solution with a pre-aggregated representation of relevant static and slowly changing elements of the environment (road geometry, boundaries, and semantics) and temporary events such as construction zones and road debris, at a high refresh rate.

● Compound Artificial Intelligence Systems, including True Redundancy ™ .

Our Compound AI structure supports precision, recall, and overall efficiency by design.

While recent advancements in transformer-based architectures and Generative AI create efficiencies in learning-based systems, which Mobileye makes full use of, it also introduces shortfalls such as lack of abstraction, shortcut-learning problem, alignment issues ( i.e.

, learning from common but incorrect data), and the long-tail problem ( i.e.

, identifying and fixing edge cases one by one).

Inevitably this approach is intended to drive high recall at the expense of precision.

This inherently introduces significant risk when it comes to the complexity of real-world driving scenarios.

Our solution, which aligns with the latest developments in Generative AI even in non safety-critical applications includes insertion of abstractions and an architecture with multiple levels of redundancies that support a quadratic improvement in precision through design.

Insertion of abstractions can successfully convert large sets of out-of-distribution edge cases to in-distribution without the need for iterative network re-training with more and more data.

Additionally, our structure includes redundancies within the computer vision stack, the fusion of mapping with real-time perception, the fusion of decomposable and end-to-end architectures, and True Redundancy ™ - the fusion of independent world-views produced by separate vision and radar/lidar-based subsystems.

When it comes to safety, our multi-faceted high-level fusion structure is governed by a Primary / Guardian / Fallback methodology (“PGF”) which can handle “majority-rule” as well as non-binary discrepancies.

This technology approach supports a quadratic improvement in precision through a framework in which the system only fails if two subsystems fail concurrently.

It is a critical enabler of our goal of building a fully autonomous driving-system that can be validated as safer than human-driven vehicles, devoid of unreasonable risks, and deployed in a cost-efficient manner.

This approach separates our system from competitors that utilize a monolithic approach.

● Next Generation Imaging Radars .

A solution targeted to complement the camera-based system with a sensor that has nearly fully-independent failure modes, supports high precision and to reduce the need for multiple expensive lidar sensors, supports cost-efficiency, a major component of recall.

The in-house development of imaging radar is a key enabler of our goal of building a cost-effective fully autonomous driving-system.

Our radar is expected to deliver rich point-cloud models like those customary of lidar, with far higher resolution and significantly more dynamic range than traditional radar.

During 2024, these goals were validated through widespread testing of our B-sample hardware by a number of OEMs.

These radars differ from legacy radar and other imaging radar development as, backed by advanced processing algorithms, they can enable an independent “sensing state” with independent failure modes than the camera-based system which supports a quadratic improvement in mean-time-between failure.

Our choice to focus on the evolution of the radar modality is also related to its cost structure which is significantly below lidar sensors.

We believe our custom designed imaging radars address not only the performance, but also the cost limitations of lidar-centric solutions for mass AV deployment.

We have selected multiple manufacturers for this solution which is approaching start of production.

● Our Family of Purpose-Built EyeQ ™ SoCs .

Our family of purpose-built EyeQ™ SoCs is fundamental to our leadership position in ADAS.

Our EyeQ™ SoCs incorporate a set of proprietary compute-acceleration models, to enhance the accuracy, quality, and functional safety of our perception solutions, while minimizing the power consumption to address the requirements of the automotive market.

The EyeQ™ family design enables a scalable Electronic Control Unit (“ECU”) architecture, thereby supporting a variety of ADAS solution architectures.

These solutions range from base, windshield mounted ECUs to multi-SoC central compute ECUs supported currently by EyeQ™5 and in the future EyeQ™6, which can be deployed in a scalable way to support eyes-on/hands-off SuperVision™ through a variety of eyes-off/hands-off operational design domains (“ODDs”) for autonomous vehicles, both consumer-owned and fleet-deployed.

Our EyeQ™5 SoCs and subsequent generations are increasingly customizable by our OEM customers, supported by our Driving Experience Platform (“DXP”) and EyeQ Kit™.

Fundamental to our leadership position in ADAS and our ambitions to develop the most cost-efficient, high-performing AV solutions, our EyeQ ™ SoCs incorporate a set of proprietary compute-acceleration models to enhance the accuracy, quality, and functional safety of our perception solutions, while minimizing the power consumption to address the requirements of the automotive market.

The EyeQ ™ family design also enables a scalable Electronic Control Unit (“ECU”) architecture, thereby supporting a variety of ADAS and autonomous vehicle solution architectures that meet the functional safety requirements of our customers.

These solutions range from base, windshield mounted ECUs to multi-SoC central compute ECUs supported currently by EyeQ ™ 5 High and in the near future EyeQ ™ 6 High, which can be deployed in a scalable way to support a full suite of Premium ADAS and AV solutions.

Efficiency of our inference silicon design is a core enabler of the overall efficiency of our system, and is critical in applications like automotive which highly value packaging size and power consumption.

Designing an efficient silicon architecture requires optimizing the competing factors of efficiency and flexibility.

We accomplish this through the development a variety of accelerators, each of which are designed to perform specific tasks that either most favor efficiency, flexibility, or a combination of both.

Successful design has led to a 10-times improvement in frames-per-second processing for EyeQ ™ 6 High, as compared to EyeQ ™ 5 High, despite only double the headline processing power ( i.e.

, TOPS) and 25% higher power consumption.

Based on competitive benchmarking, the EyeQ ™ 6 High is significantly more efficient than more general purpose SoC’s that are much higher headline processing power, in terms of frames-per-second, latency, and cost.

We continue to believe that, as AV solutions continue to develop, efficiency of inference silicon will be one of the most significant purchasing criteria and Mobileye has inherent advantages in this area.

Our EyeQ ™ 5 SoCs and subsequent generations are increasingly customizable by our OEM customers, supported by our Driving Experience Platform (“DXP”).

DXP is a software platform that enables automakers to develop and customize the driving experience ( i.e.

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This new application programming interface supports our customers’ desire to create unique products from our technology while also accelerating time-to-market and reducing overall execution risk.

EyeQ Kit™ is an end-to-end software development kit (“SDK”) intended to enable the co-hosting of our partners’ and customers’ workloads alongside our cutting-edge AI technologies in a variety of areas including vehicle control systems, driver monitoring systems, parking functions, and visualization features, at the choice of our customers.

Our end-to-end software model encourages our customers to innovate on top of our platform, augmenting and differentiating their offerings, while benefiting from our cutting-edge, verified, and validated core technologies such as computer vision, true redundancy perception, REM ™ mapping and driving policy.

Importantly, these collaborative additions to our platform offer a mutually beneficial middle ground between open and closed systems which we believe is the optimal path forward.

Road Experience Management™

REM™ is a cloud-based system that leverages the broad installed-base of REM™-equipped vehicles to build Mobileye Roadbook™, our crowd-sourced, high-definition maps of roads from around the world.

Our REM™ mapping system harvests small packets of Road Segment Data from millions of vehicles that have been launched by our partner OEMs since 2018 that are equipped with special processing software that extracts only the relevant information that is necessary to support increasing levels of ADAS and autonomous driving.

The Road Segment Data is uploaded to the cloud where our software automatically creates and updates a detailed and accurate model of the road.

Our REM™ mapping system seamlessly creates high-precision AV maps from such Road Segment Data in the cloud at centimeter detail, which are then delivered to the edge to provide vehicles with real-time intelligence, including situational awareness, context, and foresight.

Mobileye Roadbook™ was designed to provide the driving solution with a pre-aggregated representation of relevant static and slowly changing elements of the environment (road geometry, boundaries, and semantics) and temporary events such as construction zones and road debris, at a high refresh rate.

In 2023, we estimate that the data we have accumulated covers over 90% of the approximately 0.8 million miles of motorway, trunk, and primary road types in each of the United States and Europe, respectively, as well as a large majority of other road types.

This data enables us to create robust high definition maps to support solutions across the product spectrum from cloud-enhanced ADAS to Mobileye SuperVision Lite™ and Mobileye SuperVision™ to Mobileye Drive™ and Mobileye Chauffeur™.

By augmenting our base ADAS with REM™ and Mobileye Roadbook™, we have pioneered the new ADAS category of cloud-enhanced ADAS, which we call Cloud-Enhanced Driver Assist.

Cloud-Enhanced Driver Assist includes an in-path driver assist function capable of:

● Laterally controlling the vehicle to accurately track the driving path even in cases where lane markings are poorly marked, only partially visible, or completely absent (for example, while driving through intersections);

● Longitudinally responding to traffic directives and road conditions, such as adjustment of the speed according to speed limits, road curvature, or upcoming speed bumps/hazards, and yielding/stopping in response to traffic signs, traffic lights and pedestrian crossings.

Cloud-Enhanced Driver Assist also provides foresight of road geometry, and the often-complicated association of semantic indications with the different driving paths ( e.g.

, traffic lights and traffic signs) by relying on data, when such data is available, from prior human driving activity in those locations and situations.

As we continue to rapidly scale our solutions, the benefits of greater data and intelligence not only accrue to our platform, but also to our OEM customers and consumers through greater safety, as well as increased functionality and accuracy across various road conditions.

True Redundancy™:

Our Unique Sensor Fusion Architecture;

Imaging Radar Development

Our unique architecture design, called True Redundancy™, further enhances the robustness and safety of our self-driving system.

Rather than fusing all different sensor modalities prior to creating an “environment model” of the world, we have developed two independent perception subsystems.

One subsystem is powered solely by cameras and the other is powered by active sensors (radars and lidars).

The fusion of the two separate “sensing states” is performed at a high-level with a simple decision mechanism for safety maneuvers and more complex “comfort” maneuvers for human-like driving.

This unique True Redundancy™ architecture is designed to bring the cost structure of a self-driving system to a level relevant for privately-owned vehicles by having the imaging radars replace multiple, expensive lidars around the vehicle and require only a single front-facing lidar, enabling eyes-off/hands-off autonomous solutions with advanced ODDs to be launched at scale.

Our Technology Safety Concept for Deploying AV at Scale

RSS is a formal, explicit, machine interpretable model governing the safety of our autonomous driving solutions’ driving policy.

RSS articulates a set of plausible-worst-case assumptions regarding the behavior of other road-users, thereby enabling assertive, human-like driving while rigorously respecting the boundary between safe driving decisions and dangerous, risk-inducing ones.

By doing so, it provides a deterministic model for safe driving decisions.

As such, RSS further gives regulators and industry participants a framework for standardizing autonomous driving decision-making safety.

RSS is also the key enabler of our lean compute driving policy design, as we distinctly separate comfort driving strategies and tactics from safety-related inhibitions and adjustments.

RSS has inspired a global standardization effort of AV safety including IEEE 2846, an industry working group that we lead.

We first published our RSS model in 2017, setting another example of our industry leadership in addressing one of the key issues to enable regulatory and public acceptance of eyes-off/hands-off autonomous solutions at scale.

Our Roadmap to Enable Mass AV Deployment

We believe autonomous driving requires two further major advancements, each of which we are developing, and includes a regulatory framework for deploying AV at scale and a unique sensor fusion architecture, which enhances the effectiveness of the self-driving system.

A byproduct of our True Redundancy™ architecture is enabling subsystems of our AV development to “scale down” to ADAS, thus creating a seamless and scalable solution portfolio from ADAS to autonomous driving.

For example, our Premium Driver Assist offering, Mobileye SuperVision™ is a productization of the camera-based subsystem of our autonomous driving development offering fully operational point-to-point assisted driving navigation.

Since the ADAS market is extremely cost-sensitive and cameras are considered the most cost-efficient and versatile sensors powering the evolution of ADAS, the True Redundancy™ architecture enables us to considerably enhance the evolution of ADAS from front-facing camera solutions to a full surround multi-camera solution supporting fully operational eyes-on/hands-off functions.

The Mobileye SuperVision™ configuration of sensors and compute can also be transformed into an effective “360 guardian,” helping the driver avoid accidents, as referenced in our Vision Zero paper published on arXiv.org in 2018.

To take substantial steps towards “Vision Zero” or the goal of reducing driving fatalities and serious injuries from roadway accidents to zero, we leverage surround sensing, our RSS framework and REM™ AV maps.

Our AV maps, where map data is available, identify areas of potential dangers (such as lane merges, traffic lights and occluded pedestrians) and adjust the driving accordingly, while RSS provides human-like decisions enabled by surround (360) sensing and the fully-integrated REM™ AV map.

We believe Mobileye SuperVision™ has the potential to transform ADAS at its core, potentially leading to adoption driven by regulatory requirements and safety ratings of a Mobileye SuperVision™-like solution in its own category, similar to how safety-ratings and regulation have driven the adoption of base ADAS beginning in 2014.

In addition, the autonomous driving-ADAS interplay rooted in our True Redundancy™ architecture is bi-directional:

advanced technologies, which are migrated down from the self-driving systems to ADAS, dramatically enhance our ADAS market proposition, and in turn, also serve as a scalable bridge to AV, as a substantial portion of the technology building blocks of Mobileye’s AV stack is being verified and validated in commercial, mass market ADAS deployments.

Moreover, our scalable architecture provides our OEM partners with operational efficiencies as our stacked solution architecture minimizes the OEMs’ integration and validation burden as our solutions can be seamlessly deployed across multiple vehicle segments.

We have designed and selected multiple manufacturing partners for a “software-defined” imaging radar with a dynamic range and resolution backed by advanced processing algorithms to enable an independent “sensing state.” We have chosen to focus on the evolution of the radar modality, given its cost structure is significantly below lidar-only systems.

We believe our custom designed, imaging radars address not only the performance, but also the cost limitations of a radar-multiple lidar solution for mass AV deployment.

Our radar is expected to deliver rich point-cloud models like those customary of lidar, with far higher resolution and a significantly more dynamic range than traditional radar.

We believe that this will allow us to eliminate the need for multiple high-cost lidars around the vehicle and require only a single front-facing lidar, thereby significantly lowering the overall cost of the required sensors compared to other solutions that use lidar-centric or lidar-only systems.

Importantly, this collaborative addition to our platform offer a mutually beneficial middle ground between open and closed systems which we believe is the optimal path forward.

These five pillars form the core of our highly versatile and customizable platform, which we intend to deploy with progressively increasing functionality to continue to enhance our market-leading ADAS solutions and lead the evolution to autonomous driving solutions.

The Autonomous Vehicle Revolution

Autonomous driving is one of the most difficult technological challenges facing the world today.

Autonomous driving as a technological concept has been at the forefront of human imagination for decades.

Since the early 2000s, a number of automotive and technology companies have invested heavily to try to make this a reality.

Mobileye is leading the evolution from ADAS to autonomous driving.

Vehicle autonomy can be viewed as a spectrum that uses the same technology building blocks to power the full span of driver assist functions, ranging from those available in hundreds of car models today, through full autonomy powering robotaxis and, eventually, personal autonomous vehicles.

The automotive industry breaks down this spectrum into what are known as SAE Levels 1, 2, 3, 4 and 5.

We have developed our own, more user-friendly taxonomy.

Each level of our taxonomy is further defined and supported by the particular operational design domain (“ODD”) for which it was designed.

First, we refer to basic driver assist features, such as automatic emergency braking or lane keeping assist, together with longitudinal control such as adaptive cruise control as “eyes-on/hands-on”.

The driver is still responsible for the overall task of driving, while the system supports the human driver.

Second, “eyes-on/hands-off”.

This refers to premium driver assist functions adding additional safety and comfort functionality.

This functionality allows the driver to experience hands-free driving while requiring the driver’s full attention and eyes on the road.

Third, “eyes-off/hands-off”.

The system controls the driving function within a specified ODD, such as highway driving, without the need for the human driver to monitor driving.

If the ODD is exceeded and the driver does not reassume control, the system is capable of performing a Minimum Risk Maneuver (“MRM”) and safely stop at the roadside.

Fourth, “no driver”.

When no human driver is present, e.g.

, a robotaxi , the system will perform a MRM when needed, including coming to a full stop, and can also contact a teleoperator for decision support, such as re-routing and rules decisions.

We believe that the path to full autonomy at scale will begin with increased proliferation of the middle category - eyes-on/hands-off premium driver assist - enabling hands-free highway driving, for example, and then will gradually extend to other types of roadways, such as rural, urban, and arterial roads.

This will allow continued technological development and public trust and familiarity to grow and pave the way toward full autonomy.

Our ADAS solutions, which have been deployed in over 200 million vehicles, are important building blocks for these more advanced autonomous systems.

We believe the key factors in the growth of autonomous driving will be increased safety, consumer demand, and other economic and social benefits, such as increased mobility for older adults and persons with disabilities, less traffic congestion, and the reduction of land use for parking.

Our Solutions

We are building a robust portfolio of end-to-end ADAS and autonomous driving solutions to provide the capabilities needed for the future of autonomous driving, leveraging a comprehensive suite of purpose-built software and hardware technologies.

We pioneered “base” ADAS features to meet global regulatory requirements and safety ratings with our Driver Assist solution and we have since created a new category of ADAS with our Cloud-Enhanced Driver Assist and Premium Driver Assist offerings.

Additionally, we have designed a full set of hands-off solutions at a wide variety of price points and a spectrum of functionalities and operational design domains.

We have utilized the technology pillars detailed above to build a robust portfolio of end-to-end ADAS and autonomous driving solutions that provide the capabilities needed for the future of autonomous driving, leveraging a comprehensive suite of purpose-built software and hardware technologies.

We pioneered “base” ADAS features to meet global regulatory requirements and safety ratings with our Base ADAS solution and we have since created new categories of ADAS with our Cloud-Enhanced ADAS ™ , Mobileye Surround ADAS ™ , and SuperVision ™ offerings.

Additionally, we have designed a full set of eyes-off/hands-off solutions at a wide variety of price points and a spectrum of functionalities and ODDs.

We believe that our industry-leading technology platform, built upon multiple years of research, development, data collection and validation, gives us the unique ability to not only deliver excellent safety ratings with our ADAS solutions, but also to make the mass deployment of autonomous driving solutions a reality.

We believe that the breadth of our solutions, combined with our global customer base, represents a significant market opportunity for us.

Represents commercially deployed solutions (Driver Assist, Cloud-Enhanced Driver Assist and Mobileye SuperVision™) and solutions that we expect to be commercially deployed in the future (SuperVision-Lite™, Mobileye Chauffeur™, Mobileye Drive™, and AMaaS).

The chart above represents commercially deployed solutions (Base ADAS, Cloud-Enhanced ADAS ™ and Mobileye SuperVision ™ ) and solutions that we expect to be commercially deployed in the future (Mobileye Surround ADAS ™ , Mobileye Chauffeur ™ , and Mobileye Drive ™ ).

Our End-to-End ADAS and AV Solutions

Driver Assist

Base Driver Assist functions are foundational to our spectrum of ADAS and AV solutions and include core safety features such as real-time detection of road users, geometry, semantics, and markings to provide safety alerts and emergency interventions.

Mobileye Base ADAS

Mobileye’s Base ADAS, powered by our purpose built, on-windshield EyeQ ™ SoC devices and our expertise in computer vision, brings our core ADAS solutions to millions of vehicles on the road today and is foundational to our spectrum of ADAS and autonomous vehicle solutions.

Our EyeQ ™ SoC provides drivers with basic safety features covered by front-facing sensing, such as collision warning, lane departure warnings, pedestrian and cyclist collision warning, headway monitoring and warning, speed limit indicator, blind spot detection, and many more.

Our software algorithms and purpose-built hardware are designed to provide the driver with accurate and reliable driver assist solutions, promoting road safety.

Cloud-Enhanced Driver Assist

Cloud-Enhanced Driver Assist provides drivers with high-accuracy interpretations of a scene in real-time utilizing centimeter-level drivable path accuracy, foresight of the path ahead, and other semantic information provided by our crowdsourced REM™ mapping system, subject to the availability of relevant map data.

This additional input to the environmental model enhances speed and quality of the system’s decision-making.

Our Cloud-Enhanced Driver Assist solution is category-defining and, with our REM™ mapping system, offers comprehensive in-path assist functionality through lateral vehicle control to maintain the driving path even when lane markings are partly visible or absent and through longitudinal vehicle control to adjust speed based on traffic signs, road markings, road conditions, and other traffic directions or hazards, independently of the driver.

It additionally provides information of the road ahead, including geometry and driving semantics, and the often-complicated association of semantic indications to the different driving paths ( e.g.

, traffic lights and traffic signs lane association) by relying on data from prior human driving activity on those roads.

Mobileye SuperVision TM Lite

Mobileye SuperVision™ Lite is our recently-introduced highway-only navigation and assisted driving solution with autonomous parking capabilities supported by our cloud-based enhancements such as REM™.

Mobileye SuperVision™ Lite will utilize the SuperVision™ software stack, including our RSS policy model, and will be powered by a Mobileye ECU with one EyeQ™6 SoC, which will process data from the customer’s third party sensor suite featuring six cameras and five radars.

Such cameras are expected to consist of two long-range cameras in the front and rear, while leveraging data from four short-range surround vision cameras that are already equipped on many production vehicles today for parking visualization purposes.

Mobileye’s SuperVision™ Lite will offer eyes-on/hands-off assisted driving on highway road types (while SuperVision™ is expected to operate on a variety of road types), as well as automated lane changes, evasive maneuvering, and red traffic light braking, and will also include our core Driver Assist safety features.

This offering is expected to include DXP and EyeQ™ Kit support, which will enable customers to customize the driving experience and deploy their own internally-developed (or third party-sourced) software components on our EyeQ™ SoCs while benefiting from our industry-leading technology platform.

Mobileye SuperVision TM

Mobileye SuperVision™, our Premium Driver Assist offering, is a point-to-point assisted driving navigation solution and includes cloud-based enhancements such as REM™ and supports OTA updates.

Mobileye SuperVision™ includes our RSS policy model and supports 360-degree surround sensing with 11 third-party cameras powered by a turnkey ECU with two EyeQ™5 or, in the future, two EyeQ™6 SoCs.

Furthermore, in addition to supervised point-to-point assisted driving, Mobileye SuperVision™ is capable of changing lanes, managing priorities, and turning in intersections as well as engaging in automated parking, preventative steering, and braking, and other Driver Assist features.

Cloud-Enhanced ADAS ™

Mobileye’s Cloud-Enhanced ADAS ™ leverages crowdsourced data from millions of REM ™ -equipped vehicles around the globe every day, providing high-level accuracy localization via continuously updated information about the driving scene.

Enhancing the existing single-camera system with crowdsourced data offers comprehensive in-path assist functionality that enables better performance and compliance even in complex or challenging circumstances.

Relying on data from prior human driving activity to anticipate and adapt, our Cloud-Enhanced ADAS ™ solution provides a safer, smoother, and more natural driving experience – marking a software defined leap in ADAS performance with no need for additional hardware.

Mobileye Surround ADAS ™

Building on our ADAS expertise and the core of our single-camera Cloud-Enhanced ADAS ™ system, we offer through our Mobileye Surround ADAS ™ system the ability to meet expanded late-decade active safety requirements through the utilization, analysis, and processing of additional surround perception sensors.

Mobileye Surround ADAS ™ utilizes the SuperVision ™ software stack, including our RSS (defined below) policy model, and is powered by a Mobileye ECU with one EyeQ ™ 6 High SoC, which processes data from the customer’s third party sensor suite featuring up to six cameras and up to five radars.

Such cameras generally consist of two long-range cameras in the front and rear, while leveraging data from four short-range surround vision cameras that are already equipped on many production vehicles today for parking visualization purposes.

Additionally, Mobileye Surround ADAS ™ offers eyes-on/hands-off functionality for highway ODDs by adding features like automatic lane change, front and rear collision avoidance, traffic jam assist, and a Highway Pilot function up to 130 kilometers per hour with the fidelity of a multi-camera and multi-radar sensor suite.

This system also includes DXP support, which enables customers to customize the driving experience while benefiting from our industry-leading technology platform.

Mobileye SuperVision ™

Mobileye SuperVision ™ , our eyes-on/hands-off Premium Driver Assist offering, is our most advanced driver assist system on the market and the bridge to consumer autonomous vehicles.

It is designed to handle standard driving functions across various road types, offering “hands-off” navigation capabilities under certain ODDs, while still requiring the driver to pay full attention and keep eyes on the road.

Derived from our autonomous vehicle research and development, Mobileye SuperVision ™ leverages cloud-based enhancements such as REM ™ , a number of algorithmic and architectural redundancies, and our RSS policy model.

The system utilizes 360-degree surround sensing with 11 third-party cameras powered (plus optional radar) processes by a turnkey ECU with two EyeQ ™ 5 or, in the future, two EyeQ ™ 6 SoCs.

Furthermore, in addition to supervised point-to-point assisted driving, Mobileye SuperVision ™ is capable of changing lanes, managing priorities, and turning in intersections as well as engaging in automated parking, preventative ( i.e.

, evasive) steering and braking, and other Driver Assist features.

This solution is further supported by OTA updates.

The 11 third-party cameras (seven long range cameras and four short-range surround vision cameras) provide full surround coverage and consist of 120-degree and 28-degree cameras in the front, four 100-degree corner cameras (two front-facing and two rear-facing), a 60-degree rear camera and four wide-view 195-degree short-range cameras mounted on the side mirrors and front and rear bumpers.

The mapping is powered by REM™ to create a 360-degree environmental model (subject to the availability of map data) and RSS constrains the driving decisions to be compliant with an underlying formally proven model for safe driving decisions.

This offering also includes DXP and EyeQ™ Kit support, which will enable customers to control the driving experience and deploy their own internally-developed software on our EyeQ™ SoCs while benefiting from our industry-leading technology platform.

The mapping is powered by REM ™ , and integrated with computer vision perception, to create a 360-degree environmental model (subject to the availability of map data) and RSS constrains the driving decisions to be compliant with an underlying formally proven model for safe driving decisions.

This offering also includes DXP, which will enable customers to control the driving experience while benefiting from our industry-leading technology platform.

Importantly, our SuperVision ™ technology also serves as a bridge, or foundational technology, for Mobileye and its customers to develop a spectrum of “eyes-off/hands-off solutions with expanding ODDs.

In other words, an OEM that adopts and validates SuperVision™ is taking a significant step towards Consumer AV as SuperVision™ serves as a validated baseline which can be leveraged to add eyes-off functionality under an increasing set of operating conditions in a modular way.

In other words, an OEM that adopts and validates SuperVision ™ is taking a significant step towards consumer AV as SuperVision ™ serves as a validated baseline, including a common primary ECU board, which can be leveraged to add eyes-off functionality under an increasing set of operating conditions in a modular way.

The first series production launch of this offering occurred in 2021 as Geely Group launched Mobileye SuperVision ™ in its ZEEKR premium electric vehicle brand.

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Mobileye Chauffeur ™ and Mobileye Drive ™

Our Mobileye Chauffeur™ first generation solution will be based on three EyeQ™6 High SoCs.

It will combine our leading computer vision, camera-based perception subsystem with a radar-lidar subsystem.

Mobileye Chauffeur™ will provide 360-degrees of coverage through two independent and redundant sensing subsystems offering True Redundancy™ to reduce the validation burden and, along with REM™ AV maps and RSS, to increase scalability and safety.

Mobileye Chauffeur™ is expected to be capable of eyes-off/hands-off driving with a human driver still in the driver’s seat, in a gradually expanding ODD that can range from a limited ODD ( e.g., highway only) to the much more advanced ODDs that we are pursuing through this solution.

By using Mobileye SuperVision™ eyes-on/hands-off “full ODD” system as a basis for Mobileye Chauffeur™, we allow for an incremental and modular transition from one ODD to the next.

Mobileye Chauffeur ™ is our geographically scalable eyes-off/hands-off solution for consumer vehicles in a gradually expanding ODD, combining computer vision technology with surround imaging radars and front lidar.

The first generation solution will be based on three EyeQ ™ 6 High SoCs, deployed with a primary board including two EyeQ6 High SoCs supporting full surround computer vision perception and mapping and a secondary board with an additional EyeQ6 High SoC supporting radar / lidar perception and our Compound AI fusion architecture.

The primary board is common to our SuperVision ™ solution which reduces the OEM’s validation burden and the dual-board setup provides functional safety redundancy.

The system will provide 360-degrees of coverage through two independent and redundant sensing subsystems, along with REM ™ maps, RSS, and our PGF architecture, to support optimized scalability and safety.

Mobileye Chauffeur ™ is expected to be capable of eyes-off/hands-off driving with a human driver still in the driver’s seat, in a gradually expanding ODD that can range from a limited ODD ( e.g., highway only, up to 130kph), an ODD that we believe covers the majority of most consumers’ driving, to the more advanced ODDs that we are pursuing through this solution in subsequent generations.

By using Mobileye SuperVision ™ eyes-on/hands-off system as a basis for Mobileye Chauffeur ™ , we allow for an incremental and modular eyes-off transition from one ODD to the next.

This can be done by adding more active sensors for redundancy and more compute power to the already validated and road-tested Mobileye SuperVision ™ .

This approach gives our customers a viable, modular, and incremental path toward useful and safe consumer AV solutions.

Mobileye Drive™, our eyes-off/hands-off solution, will build upon our core autonomous driving technologies found in Mobileye Chauffeur™ (360-degrees of coverage, REM™, True Redundancy™, and RSS) and will deliver the driving functions without the need for any in-vehicle human intervention by adding teleoperability and by minimizing cases where human input would be required.

The overall solution will provide a turnkey self-driving system with a more advanced ODD for movement of people and goods that is applicable to various vehicle configurations (such as passenger vehicles, special purpose pods/vehicles, shuttles, and buses) and will be relevant across the range of potential networks (including AMaaS, last-mile delivery and commercial delivery fleets).

Mobileye Drive ™ is our fleet-focused end-to-end self-driving system that enables automakers, public transportation companies, and transportation network operators to offer a no-driver solution for robotaxis, ride-pooling, public transport, and goods delivery.

This eyes-off/hands-off/no driver solution will build upon our core autonomous driving technologies found in Mobileye Chauffeur ™ and will deliver driving functions without the need for any in-vehicle human intervention by adding teleoperability and by minimizing cases where human input would be required.

Our overall turnkey self-driving solution offers an advanced ODD that can turn various vehicle configurations and solutions autonomous.

Mobileye Drive ™ is already being integrated, and is in the development, testing and validation stages in autonomous public transit, autonomous goods delivery and autonomous mobility-as-a-service (“AMaaS”) across industries and around the globe.

We believe that both Mobileye Chauffeur ™ and Mobileye Drive ™ have sustainable competitive advantages as a result of the cost efficiency, scalability, and regulatory validation of our technology platform:

● Cost Efficiency - cost-efficient, low-energy, purpose-built central compute processors;

imaging radars targeted to reduce the need for multiple lidar units and require only a single front-facing lidar;

● Geographic Scalability - REM™-based AV maps that eliminate the need for dedicated high-definition mapping efforts;

imaging radars targeted to reduce the need for multiple lidar units;

● Geographic Scalability - REM ™ -based maps that eliminate the need for dedicated high-definition mapping efforts;

RSS-based driving policy designed for global deployment by not relying on driving culture or local rules;

sensing technologies built on a foundation of a massive data training set from over 40 countries;

● Regulatory Validation - True Redundancy™, with independent, separate perception subsystems that increases robustness and ease of validation, RSS used by international bodies that are currently developing standards with respect to the safety of AV.

● Regulatory Validation - True Redundancy ™ , with multiple independent, separate perception subsystems feeding our Compound AI architecture that increases robustness and ease of validation, and RSS used by international bodies that are currently developing standards with respect to the safety of AV.

● Self-Driving System & Vehicles.

We expect to deploy our Mobileye Drive ™ eyes-off/hands-off self-driving system inside purpose-built vehicle platforms that are engineered to integrate our technology stack.

Announced supply-side vehicle development partners are Volkswagen Commercial Vehicles, Schaeffler, and Holon.

We and our vehicle development partners will then market these vehicles and systems through business-to-business channels into a range of transportation network operators, with announced demand-side customers including Sixt, Deutsche Bahn, Beep, Holo/Ruter, and others.

Announced supply-side vehicle development partners are Volkswagen Commercial Vehicles, Schaeffler, Verne and Holon.

Overall, we believe our proprietary set of software and hardware technology solutions results in significant competitive advantages and a wider range of potential offerings compared to other approaches by industry participants attempting to commercialize network - deployed autonomous vehicles.

Aftermarket Product Portfolio

We develop and sell aftermarket products meant for vehicles that do not come pre-equipped with ADAS technology.

These products use Mobileye’s core computer vision processing and purpose-built EyeQ™ chips to provide collision avoidance systems.

We provide a complete system that can be retrofit and integrated into most vehicles, including EyeQ™, camera, and relevant electronics.

These systems are sold primarily to entities that own a medium-to-large size fleet of vehicles.

Our current products include Mobileye 8 Connect and Mobileye Shield+.

Mobileye 8 is designed for light and medium-duty vehicles to provide forward collision avoidance warnings, as well as enhanced ADAS features, connectivity, and actionable data insights.

Mobileye Shield+ is a system specifically designed for large vehicles that have significant blind spots, such as city buses.

These EyeQ™4 based products also have the capability to harvest REM™ data.

Despite our history of success with the aftermarket product portfolio, we believe that as automakers and other vehicle manufacturers have steadily increased the rate at which integrated ADAS solutions are installed on new vehicles, the demand and future addressable market for retrofitted ADAS solutions has moderated and will continue to do so.

As a result, we regularly evaluate the current and future growth profile of this market relative to the continued investment required.

The Autonomous Vehicle Revolution

Autonomous driving is one of the most difficult technological challenges facing the world today.

Autonomous driving as a technological concept has been at the forefront of human imagination for decades.

Since the early 2000s, a number of automotive and technology companies have invested heavily to try to make this a reality.

The automotive industry breaks down this spectrum into what are known as SAE Levels 1, 2, 3, 4 and 5.

We have developed our own, more user-friendly taxonomy.

Each level of our taxonomy is further defined and supported by the particular ODD for which it was designed.

We refer to basic driver assist features, such as automatic emergency braking or lane keeping assist, together with longitudinal control such as adaptive cruise control as “eyes-on/hands-on”.

The eyes-on/hands-on designation indicates the driver remains responsible for all driving functions while the system supports the driver.

The next level up is “eyes-on/hands-off” and refers to premium driver assist functions adding additional safety and comfort functionality.

This functionality allows the driver to experience hands-free driving while the driver must still monitor the vehicle.

The next level of autonomous functionality enables the driver to relinquish control under certain ODDs such as highway driving, which we call “eyes-off/hands-off”.

Vehicles equipped with eyes-off/hands-off functionality but that also incorporate a broader set of ODDs can be deployed into the consumer market or the mobility-as-a-service market and operate with no human intervention.

We refer to autonomy that does not require human driver intervention in any situation also as “eyes-off/hands-off”.

For consumer-owned vehicles, the expectation is that a human “operator” of the car will always be present.

For Mobility-as-a-Service deployed vehicles there will be no human “operator” present which drives the need for teleoperators.

We refer to this as “eyes-off/hands-off/no driver”.

This will allow continued technological development and public trust and familiarity to grow and pave the way toward full autonomy.

Our ADAS solutions, which have been deployed in approximately 170 million vehicles, are important building blocks for these more advanced autonomous systems.

Models for AV Adoption

We believe that the availability of AVs will cause a significant transformation in mobility, including vehicle ownership and utilization.

We expect that AV technology will eventually be accessed by consumers through shared-vehicle AMaaS networks, as well as in consumer-owned and operated AVs.

We believe that the availability of autonomous vehicles will cause a significant transformation in mobility, including vehicle ownership and utilization.

We expect that autonomous vehicle technology will eventually be accessed by consumers through shared-vehicle AMaaS networks, as well as in consumer-owned and operated autonomous vehicles.

It is our view that, to reach the full potential of autonomous driving over the long-term, the technology solutions that enable these separate markets should converge over time, and that is reflected in our strategy.

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Challenges to Making Autonomous Vehicles Ubiquitous

To make autonomous vehicles at scale a reality, we believe that there are three core challenges that must be addressed:

To make autonomous vehicles at scale a reality, we believe that there are three core challenges that must be addressed beyond optimization of safety and performance:

● Regulatory Endorsement - Autonomous driving solutions must be architected, by design, to be verifiably safe, in a manner that fosters broad societal and regulatory endorsement.

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For driving policy, however, being “safer” does not always mean being better.

As a society, we balance safety and practicality by determining what the “reasonable risk” we are willing to take is, and this is the type of question regulators will be required to address when licensing AV to navigate our roads.

● Geographic Scale - Geographic scale refers to the challenge of creating high-definition maps with great detail and accuracy, and keeping those maps continuously updated, which is crucial for series production AVs.

AMaaS vehicles can be confined to geofenced areas, which allows AVs to reach prominence through the robotaxi industry before expanding the operational driving domain to outside of those areas.

● Geographic Scale - Geographic scale refers to the challenge of creating high-definition maps with great detail and accuracy through our REM ™ technology, and keeping those maps continuously updated, which is crucial for series production AVs.

AMaaS vehicles can be confined to geofenced areas, which allows AVs to reach prominence through the robotaxi industry before expanding the ODD to outside of those areas.

While robotaxi operators may be successful providing their services in limited geofenced areas, broad-based consumer AV adoption requires the ability to drive safely anywhere, and in diverse environments, rather than only in geofenced areas.

● Cost - The cost of a self-driving system commonly employed by robotaxis, with its cameras, radars, lidars, and high-performance computing is currently in the tens of thousands of dollars.

In 2024 alone, we collected 29.6 billion miles of road data from, based on our estimates 3 million REM ™ -enabled vehicles worldwide, and analyzed up to 62.4 million miles of road data per day, with the size of the REM ™ -enabled fleet increasing daily.

Since we deployed REM ™ in 2018, we have harvested a total of 56.6 billion miles of road data.

As of December 28, 2024, we estimate that the data we have accumulated covers over 95% of the approximately 0.8 million miles of motorway, trunk, and primary road types in each of the United States and Europe, respectively, as well as a large majority of other road types.

This data enables us to create robust high definition maps to support solutions across the product spectrum from Cloud-Enhanced ADAS ™ to Mobileye Surround ADAS ™ and Mobileye SuperVision ™ to Mobileye Chauffeur ™ and Mobileye Drive ™ .

● Cost - The cost of a self-driving system commonly employed by robotaxis, with its cameras, radars, specialized lidars, and high-performance computing is currently in the tens of thousands of dollars.

This cost level is acceptable for the monetization model of a driverless ride-hailing service, but is far too expensive for series-production passenger cars.

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This results in an optimized cost/performance paradigm, allowing for a range of products that can be produced at high volume.

We continue to innovate in this area;

for example, our latest SoC, the EyeQ ™ 6 High, achieves a ten-fold increase in frames-per-second processing as compared to our EyeQ ™ 5 High SoC, with only a two-times increase in overall processing power and 25% increase in power consumption.

Our coupled software and hardware architecture is highly differentiated from general purpose SoCs and software stacks that are not optimized for a specific use case.

Our approach results in low power consumption and lean compute, yet is able to support a very powerful range of solutions for the ADAS and AV markets.

The principle of efficiency permeates the overall solution design, including our True Redundancy™ approach, with separate subsystems to increase robustness and simplify validation efforts, and RSS, which separates the perception system’s validation from the driving policy system, and allows for a compute-efficient driving policy.

Both of these are critical contributors to achieving efficient solutions.

● Scalable EyeQ TM SoC design addresses the entire spectrum of ADAS and autonomous driving - Our proprietary accelerator cores are optimized for a wide variety of computer vision, signal processing, and machine learning tasks, including deep neural networks.

Our EyeQ TM architecture is highly scalable, powers our solutions, ranging from our base ADAS to highly advanced autonomous driving solutions, and is designed to support the increasingly computationally intensive demands of ADAS and autonomous driving solutions on the same architecture.

The principle of efficiency permeates the overall solution design, including our Compound AI system architecture, which includes our True Redundancy ™ approach, with multiple separate subsystems to increase robustness and simplify validation efforts, and RSS, which separates the perception system’s validation from the driving policy system, and allows for a compute-efficient driving policy.

Each of these are critical contributors to achieving efficient solutions.

● Scalable EyeQ ™ SoC design addresses the entire spectrum of ADAS and autonomous driving - Our proprietary accelerator cores are optimized for a wide variety of computer vision, signal processing, and machine learning tasks, including deep neural networks.

Our EyeQ ™ architecture is highly scalable, powers our solutions, ranging from our base ADAS to highly advanced autonomous driving solutions, and is designed to support the increasingly computationally intensive demands of ADAS and autonomous driving solutions on the same architecture.

● Industry leading computer vision capabilities - ADAS solutions are responsible for saving lives and must meet very high-performance metrics with extreme levels of efficiency, and pass increasing oversight from regulatory bodies - “good enough” is simply not acceptable.

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● We offer solutions for developing and deploying differentiated features on top of EyeQ ™ SoC - Our platform is modular by design, enabling our customers to productize our most advanced solutions today and then leverage those investments to launch even more advanced systems in a modular and incremental manner.

Our systems are also highly customizable, which allows our customers to benefit from our cutting-edge, verified, and validated core technologies such as computer vision, true redundancy perception, REM™ mapping and driving policy, while enabling our customers to augment and differentiate their offerings.

Our most recent solution is Mobileye DXP, which is a software platform that enables automakers to build from Mobileye’s proven autonomous technology framework to create differentiated products and customized automated driving experiences while supporting faster time-to-market and reducing overall execution risk.

Our systems are also highly customizable, which allows our customers to benefit from our cutting-edge, verified, and validated core technologies such as computer vision, radar, and lidar processing, Compound AI system architecture (including True Redundancy ™ ), REM ™ mapping, and driving policy, while enabling our customers to augment and differentiate their offerings.

Customization on top of these core technologies comes primarily through Mobileye DXP, which is a software platform that enables automakers to build from Mobileye’s proven autonomous technology framework to create differentiated products and customized automated driving experiences while supporting faster time-to-market and reducing overall execution risk.

Mobileye DXP was designed by separating the universal aspects of driving policy, such as integration with perception, providing safe decision-making actions, and predicting intentions of other road users, from the unique aspects of the driving experience, or “how” the vehicle executes specific scenarios.

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DXP supports efficient, successive software updates based on automaker roadmaps, as the safety critical elements, like sensing, environmental perception, and driving policy, remain static.

Mobileye has also developed our own SDK, called EyeQ Kit TM , which provides access to all EyeQ™ accelerators for programming and is enabled by a broad ecosystem of standard and proprietary software.

EyeQ Kit™ brings together a team of compilers, simulators, profilers, and debuggers who have been working together for many years to develop a single software platform optimized for common workloads and industry standards.

We believe these solutions provide strategic go-to-market flexibility for our customers and enable Mobileye to tailor solutions to OEM targets, where needed, while also accelerating solution execution and reducing development costs.

● “Scale by design” approach - Our technology platform is built to deliver autonomous driving solutions at scale by leveraging our REM TM mapping technology, which will allow our solutions to be driven without the limitations of geofencing;

● “Scale by design” approach - Our technology platform is built to deliver autonomous driving solutions at scale by leveraging our REM ™ mapping technology, which allows our solutions to be driven without the limitations of geofencing;

our True Redundancy ™ approach, which allows for cost-efficient validation;

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and, our active sensor architecture based on our imaging radars, which we expect will help support cost-efficient consumer AV production at scale in the future.

● Autonomous driving-ADAS synergies - The autonomous driving-ADAS interplay, which is borne out of our True Redundancy™ architecture, is bi-directional:

● Autonomous driving-ADAS synergies - The autonomous driving-ADAS interplay, which is borne out of our Compound AI architecture (including True Redundancy ™ ), is bi-directional:

advanced technologies transfer from autonomous driving to ADAS and significantly enhance our market proposition, and in turn, these advanced autonomous driving technologies are validated in commercial, mass market ADAS deployments and contribute to the process of verifying and validating the various elements of our autonomous driving solution stack.

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● Road Experience Management ™ creates a powerful network effect and long-term competitive advantage - Our REM ™ system is a crucial ingredient that we believe allows for:

(1) defining a new category of cloud-enhanced ADAS that we call Cloud-Enhanced Driver Assist, where information in Mobileye Roadbook™ enhances existing ADAS functions such as lane keeping assist and lane-centering and allows for new functions such as the analysis of behavior patterns in intersections and near traffic signs and lights;

(2) evolving ADAS to an eyes-on/hands-off point-to-point assisted driving navigation;

(1) defining a new category of cloud-enhanced ADAS that we call Cloud-Enhanced ADAS ™ , where information in Mobileye Roadbook ™ enhances existing ADAS functions such as lane keeping assist and lane-centering and allows for new functions such as the analysis of behavior patterns in intersections and near traffic signs and lights;

(2) evolving ADAS to an eyes-on/hands-off point-to-point assisted driving navigation system;

and (3) the scale deployment of AV.

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We believe this network effect creates a powerful competitive advantage, particularly given our leadership position in ADAS, as we are able to efficiently collect large amounts of data from our consumer solutions already deployed on roads globally through their regular use.

Our AV maps are a critical component that supports our SuperVision TM product’s ability to operate across a wide ODD and, therefore, the modular process of expanding this technology to eyes-off/hands-off Chauffeur TM products for a defined ODD.

Further, our AV maps support our ability to deploy our AMaaS technology in new cities and geographies quickly.

Our REM ™ maps are a critical component that supports our SuperVision ™ product’s ability to operate across a wide ODD and, therefore, the modular process of expanding this technology to eyes-off/hands-off Chauffeur products for a defined ODD.

Further, our REM ™ maps support our ability to deploy our AMaaS technology in new cities and geographies quickly.

● Data and technology advantage - Developing effective ADAS technology is technologically complex, and requires the development of large validation datasets in order to train the required software algorithms effectively, a long-term commitment to validation and qualification with an OEM before series production can even begin, and significant financial resources.

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In addition, our advanced data labeling infrastructure and data mining tools can unlock significant data-driven insights.

In parallel, we have created a rich dataset of roads driven from over three million REM™-enabled vehicles worldwide that we estimate covers over 90% of the approximately 0.8 million miles of motorway, trunk, and primary road types in each of the United States and Europe, respectively, as well as a large majority of all other road types.

In parallel, we have created a rich dataset of roads driven from over 3 million REM ™ -enabled vehicles worldwide that we estimate covers over 95% of the approximately 0.8 million miles of motorway, trunk, and primary road types in each of the United States and Europe, respectively, as well as a large majority of all other road types.

We apply a series of on-cloud algorithms to build this crowd-sourced data into a high-definition, rapidly updating map that contains a rich variety of information, including road geometry, drivable paths, common speeds, right-of-way, and traffic light-to-lane associations.

Our REM ™ -enabled solutions continuously harvest high-precision data that is analyzed in the cloud, creating a large repository of real-world data from the analysis of tens of millions of miles of road data per day, varying by road types and geography.

This data enables us to create robust high definition maps to support solutions across the product spectrum from cloud-enhanced ADAS and Mobileye SuperVision Lite™ to Mobileye SuperVision™ to Mobileye Drive™ and Mobileye Chauffeur™.

This data enables us to create robust high definition maps to support solutions across the product spectrum from Cloud-Enhanced ADAS ™ and Mobileye Surround ADAS ™ to Mobileye SuperVision ™ to Mobileye Chauffeur ™ and Mobileye Drive ™ .

These two datasets create powerful network effects as we seek to continually improve our solutions as more vehicles are deployed with our technology.

● RSS and driving policy are designed for global deployment - We published our RSS model in 2017, to address the regulatory and public debate regarding, and enable the acceptance of, eyes-off/hands-off autonomous solutions.

Our Technology Safety Concept for Deploying AV at Scale - Responsibility Sensitive Safety (“RSS”), published in 2017, is a key component of our safety model, intended to specifically address the regulatory and public debate regarding, and enable the acceptance of, eyes-off/hands-off autonomous solutions.

It is a formal, explicit, machine interpretable model governing the safety of our autonomous driving solutions’ driving policy.

By doing so, it provides a deterministic model for safe driving decisions.

As such, RSS further gives regulators and industry participants a framework for standardizing autonomous driving decision-making safety.

RSS is also the key enabler of our lean compute driving policy design, as we distinctly separate comfort driving strategies and tactics from safety-related inhibitions and adjustments.

RSS has inspired a global standardization effort of AV safety including IEEE 2846, an industry working group that we lead.

● RSS is the key enabler of our lean compute driving policy design, where we distinctly separate driving comfort features from safety-related inhibitions and adjustments.

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Our RSS-based driving policy is designed for global deployment, as it does not need to be tailored to specific driving cultures.

● Purpose-built imaging-radar unlocks consumer AV at scale - We are developing software-defined imaging-radar with cutting-edge dynamic range and resolution.

● Purpose-built imaging-radar unlocks consumer AV at scale - We have developed software-defined imaging-radar with cutting-edge dynamic range and resolution.

Our differentiated True Redundancy ™ architecture, which is adaptable to different lidar architectures, will leverage our imaging-radar, which we believe will give us the ability to significantly reduce the cost of the overall sensor suite by replacing multiple, expensive lidars around the vehicle, with only a single front-facing lidar sensor, which we believe will support consumer AV production at scale.

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We believe that our comprehensive stack of solutions and proven success at scale will enable us to further solidify our industry leadership.

● Capitalize on Cloud-Enhanced Driver Assist features - We have pioneered a cloud-enhanced ADAS solution, which offers customers using advanced EyeQ TM versions (EyeQ TM 4 and above) a significant value through our REM™ technology.

Our Cloud-Enhanced Driver Assist solution is capable of utilizing our EyeQ TM SoCs and entry level camera technologies to deliver feature enhancements over time.

Our Cloud-Enhanced Premium ADAS features range in complexity from all road-type lane keeping assist and lane centering, to Cross-Junction Assist, to Traffic Jam Assist.

We will continue to grow the depth and breadth of our AV maps in order to deliver leading ADAS capabilities.

In the future, we plan to create revenue streams from our OTA capabilities and AV maps through solution upgrades.

● Capitalize on Cloud-Enhanced ADAS ™ features - We have pioneered a cloud-enhanced ADAS solution, which offers customers using advanced EyeQ ™ versions (EyeQ ™ 4 and above) a significant value through our REM ™ technology.

Our Cloud-Enhanced ADAS ™ solution is capable of utilizing our EyeQ ™ SoCs and entry level camera technologies to deliver feature enhancements over time.

Our premium Cloud-Enhanced ADAS ™ features range in complexity from all road-type lane keeping assist and lane centering, to Cross-Junction Assist, to Traffic Jam Assist.

We will continue to grow the depth and breadth of our REM ™ maps in order to deliver leading ADAS capabilities.

In the future, we plan to create revenue streams from our OTA capabilities and REM ™ maps through solution upgrades.

● Further enhance and drive adoption of our Premium Driver Assist solutions - Our Mobileye SuperVision ™ solution represents a comprehensive eyes-on/hands-off ADAS solution.

After the initial launch by the Geely Group’s premium electric vehicle brand, ZEEKR, we have successfully executed a series of software updates and also achieved a series of production program awards with other OEMs that increased substantially the number of vehicle models in our future launch pipeline.

During 2023, shipments were slightly above 100,000 units.

On the execution side, we delivered to Zeekr consumers full SuperVision™ features for highway and arterial roads in August 2023 and expanded to 22 cities by year-end as compared to 2 cities at launch.

Additionally, we generated substantial new business for this product.

We now have 4 vehicle models in production and a total of approximately 30 models in the future launch pipeline as compared to 1 vehicle in production and 5 models in the future launch pipeline at the start of 2023.

This expansion was supported by design wins with Porsche, FAW, Mahindra, and a large global western OEM over the course of last year.

We believe that the high value-add, our continuous efforts to add capabilities, as well as the competitive price point of Mobileye SuperVision™ will allow it to gain strong market traction in the coming years.

After the initial launch by the Geely Group’s premium electric vehicle brand, ZEEKR, we have successfully executed a series of software updates and also achieved a series of production program awards with Volkswagen Group that increased substantially the number of vehicle models in our future launch pipeline.

During 2024, we made significant progress towards additional design wins for SuperVision throughout our top OEM customers.

Our validated SuperVision ™ technology can serve as the foundation to enable eyes-off/hands-off capabilities in a modular way.

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We believe that Mobileye SuperVision ™ has the potential to transform ADAS at its core, potentially leading to adoption driven by regulatory requirements and safety ratings of a Mobileye SuperVision ™ -like solution in its own category, similar to how safety-ratings and regulation have driven the adoption of base ADAS beginning in 2014.

Additionally, we recently added a new innovative Premium ADAS solution, SuperVision™ Lite, which will utilize the SuperVision™ software stack with a down-scaled sensor suite and an ECU that will include one EyeQ TM 6 High SoC in the future.

The solution will enable eyes-on/hands-off driving on highway road types (as compared to SuperVision™ which is expected to operate on various road types), and next-generation automated parking functions.

Mobileye SuperVision™ Lite will provide OEMs with higher levels of autonomy than Cloud-Enhanced Driver Assist, which we believe will expand the application and adoption of our products.

Our Premium Driver Assist offerings are expected to be available with DXP and EyeQ TM Kit support, which will enable OEM customers to deploy their own internally-developed software on our EyeQ TM SoCs while benefiting from our industry-leading technology platform.

● Innovate and commercialize our next-generation autonomous driving solutions - Propelled by our next generation EyeQ™ SoC, our surround computer vision Mobileye SuperVision™ solution, productization of software-defined imaging radars and our True Redundancy™ architecture, we believe that we will be positioned to deliver an autonomous driving solution that can enable the mass adoption of AV.

Additionally, we added a new innovative Premium ADAS solution, Mobileye Surround ADAS ™ , which utilizes the SuperVision ™ software stack with a down-scaled sensor suite and an ECU that includes one EyeQ ™ 6 High SoC.

The solution will enable eyes-on/hands-off driving on highway road types (as compared to SuperVision ™ which is expected to operate on various ODDs).

Mobileye Surround ADAS ™ will provide OEMs with higher levels of autonomy than Cloud-Enhanced Driver Assist ™ , which we believe will expand the application and adoption of our products.

Our Premium Driver Assist offerings are expected to be available with DXP, which will enable OEM customers to deploy their own internally-developed software on our EyeQ ™ SoCs while benefiting from our industry-leading technology platform.

● Innovate and commercialize our next-generation autonomous driving solutions - Propelled by our next generation EyeQ ™ SoC, our surround computer vision Mobileye SuperVision ™ solution, productization of software-defined imaging radars and our Compound AI system architecture including True Redundancy ™ , we believe that we will be positioned to deliver an autonomous driving solution that can enable the mass adoption of AV.

We plan to continue to develop innovative and cost-optimized solutions to deliver comprehensive capabilities for mass market adoption to our customers.

We believe the introduction of our premium ADAS capabilities with our launched Mobileye SuperVision™ solution, which can be scaled to a variety of Mobileye Chauffeur™ Consumer AV solutions, and our eyes-off/hands-off capabilities with Mobileye Drive™ will help us continue to provide our customers with innovative solutions and enable further growth for us.

In fact, our business pipeline also took a leap forward in 2023, as we achieved our first set of design wins with Polestar, FAW, and a major global western OEM for Chauffeur™.

We believe the introduction of our Premium ADAS capabilities with our launched Mobileye SuperVision ™ solution, which can be scaled to a variety of Mobileye Chauffeur ™ consumer AV solutions, and our eyes-off/hands-off/no driver capabilities with Mobileye Drive ™ will help us continue to provide our customers with innovative solutions and enable further growth for us.

The favorable view of Chauffeur eyes-off technology by automakers is based on two key factors:

1) Chauffeur adds “buying your time back” as an additional value proposition on top of the safety and convenience benefits of SuperVision ™ ;

2) The sharing of tech building blocks between SuperVision™ and Chauffeur™ creates a scalable bridge from one to the other, significantly lowering the investment needs and raising the probability of success for a consumer AV product.

and 2) the sharing of tech building blocks between SuperVision ™ and Chauffeur creates a scalable bridge from one to the other, significantly lowering the investment needs and raising the probability of success for a consumer AV product.

We plan to continue to build and enhance our full-stack technology platform in order to offer an affordable, time-saving and much safer driving experience, which we believe will propel the mass-market adoption of autonomous driving solutions.

● Utilize our flexible platform to expand our collaboration with our OEM customers - We have designed our EyeQ™5 SoCs and subsequent generations to be increasingly customizable by our OEM customers, supported by DXP and EyeQ Kit™.

DXP enables automakers to develop and customize the driving experience while utiliziing Mobileye’s proven core technology perception and driving software - allowing our customers to create unique products from our technology while accelerating time-to-market and reducing overall execution risk.

EyeQ Kit™, on the other hand, enables co-hosting of third-party software and customer workloads on vehicles equipped with our solutions, including vehicle control systems, driver monitoring systems, parking functions, and visualization features, at the choice of our customers.

● Utilize our flexible platform to expand our collaboration with our OEM customers - We have designed our EyeQ ™ 5 SoCs and subsequent generations to be increasingly customizable by our OEM customers, supported by DXP.

DXP enables automakers to develop and customize the driving experience while utilizing Mobileye’s proven core technology perception and driving software - allowing our customers to create unique products from our technology while accelerating time-to-market and reducing overall execution risk.

We plan to continue to develop our platform to offer our customers the ability to seamlessly address the additional capabilities and features that they demand by customizing their offerings on top of our solutions.

These collaborative additions to our platform offer a mutually beneficial middle ground between open and closed systems, which will allow OEMs to innovate on top of our platform, augmenting and differentiating their offerings, while benefiting from our cutting-edge, verified and validated core technologies such as computer vision, true redundancy perception, REM TM mapping and driving policy.

This collaborative addition to our platform offer a mutually beneficial middle ground between open and closed systems, which will allow OEMs to innovate on top of our platform, augmenting and differentiating their offerings, while benefiting from our cutting-edge, verified and validated core technologies such as computer vision, true redundancy perception, REM ™ mapping and driving policy.

● Capitalize on our active sensor technology - We intend to continue to develop and commercialize next-generation active sensors such as software-defined imaging radars, which leverage our AI capabilities.

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We believe enhancing our sensing and perception technology leadership will further strengthen our competitive position and allow us to offer additional differentiated and cost-effective solutions to our customers.

● Accelerate our roadmap of next generation proprietary EyeQ TM SoCs - We believe that we have created the standard for processors focused on computer vision.

Our EyeQ TM SoCs are purpose-built for sensing and perception technologies and optimized for high throughput and power efficiency.

● Accelerate our roadmap of next generation proprietary EyeQ ™ SoCs - We believe that we have created the standard for processors focused on Compound AI systems that control perception, including computer vision.

Our EyeQ ™ SoCs are purpose-built for sensing and perception technologies and optimized for high throughput and power efficiency.

We intend to continue to accelerate our technology leadership with a focus on silicon, packaging, and systems level needs to deliver cost-efficient processing at the edge.

EyeQ TM 6 High be built to address the needs of eyes-on/hands-off and eyes-off/hands-off solutions in a scalable way.

EyeQ ™ 6 High will be built to address the needs of eyes-on/hands-off and eyes-off/hands-off solutions in a scalable way.

Our architecture is highly scalable and is designed to support the increasing and computationally intensive demands of future autonomous driving applications.

● Utilize our substantial and growing dataset to continuously improve the intelligence and robustness of our solutions - We will continue to grow the depth and breadth of our substantial dataset.

We believe that our ability to use this data to create, maintain, and improve our high-precision AV maps through our REM™ mapping system will enable us to further improve our ADAS offerings and position us well for autonomous driving.

We believe that our ability to use this data to create, maintain, and improve our Compound AI systems and high-precision REM ™ maps through our REM ™ mapping system will enable us to further improve our ADAS offerings and position us well for autonomous driving.

● Establish our Eyes-Off/Hands-Off autonomous and AMaaS solutions - We believe that Mobileye Chauffeur ™ and Mobileye Drive ™ will unlock new use cases and end-consumers for our OEM and fleet-owner customers, which will be applicable for both the AMaaS and consumer AV markets.

We expect to add additional cities to our AMaaS offerings to showcase our industry-leading technology and to help accelerate the pace of AV adoption.

We expect, in collaboration with our customers, to add additional cities to our AMaaS offerings to showcase our industry-leading technology and to help accelerate the pace of AV adoption.

We also expect to continue to invest in our ecosystem partnerships with OEMs and transportation network companies in order to foster close collaboration and further commercialize our autonomous technologies.

● Benefit from opportunities in large emerging markets - We intend to continue to invest in customer relationships in China and India, among other emerging markets, to accelerate ADAS and autonomous driving adoption.

In India, Mahindra & Mahindra, one of the country’s largest automakers, has launched the first vehicle made locally to offer ADAS capabilities, which is powered by our EyeQ TM SoC.

● Benefit from opportunities in large emerging markets - We intend to continue to invest in customer relationships in emerging markets to accelerate ADAS and autonomous driving adoption, particularly in India.

Mahindra & Mahindra, one of India’s largest automakers, has launched the first vehicle made locally to offer ADAS capabilities, which is powered by our EyeQ ™ SoC.

Its accessible price point compared to imported alternatives expands the ADAS reach to a broader range of consumers in one of the most populous countries in the world.

We believe our long-term partnerships with large Chinese OEMs such as Geely, Great Wall Motors, and SAIC, and Indian OEMs such as Mahindra & Mahindra position our solutions at the forefront of continued innovation and market growth.

We believe our long-term partnerships with emerging market OEMs position our solutions at the forefront of continued innovation and market growth.

Our Customers

Our customers include leading OEMs, which we sell to through Tier 1 automotive suppliers that implement our product into automotive vehicles, as well as fleet owners and operators.

Our customers include leading OEMs, which we primarily sell to through Tier 1 automotive suppliers that implement our product into automotive vehicles, as well as fleet owners and operators.

Our market position has remained strong across a broad set of customer relationships for many years.

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Tier 1 Automotive Suppliers

We supply certain OEMs with the EyeQ TM platform through our arrangements with automotive system integrators, known as Tier 1 automotive suppliers, which are direct suppliers to OEMs.

We supply certain OEMs with the EyeQ ™ platform through our arrangements with automotive system integrators, known as Tier 1 automotive suppliers, which are direct suppliers to OEMs.

Our Tier 1 customers include Aptiv, Magna, Valeo, ZF, Imotion and others.

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Our partnership includes close collaboration in product development, design, and manufacturing.

For example, we have co-developed the six EyeQ TM generations, including the launched EyeQ TM 6.

For example, we have co-developed six EyeQ ™ generations, including the EyeQ ™ 6.

We also benefit from STMicroelectronics’ advanced packaging and testing capabilities and automotive expertise.

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Our close partnership with Intel exists on multiple fronts.

As a result of our relationship with Intel, we have access to unique and differentiating technologies such as proprietary silicon photonics fabrication technologies, which we may leverage for the early development of our frequency-modulated continuous wave (“FMCW”) lidar, which has the potential to replace alternative third-party lidar sensors to further enhance the performance of our sensor suite.

We may also license certain technologies from Intel that support design and development of our software-defined radar, including Intel’s mmWave technologies.

As a result of our relationship with Intel, we have access to certain technologies that support design and development of our software-defined radar, including Intel’s mmWave technologies.

Additionally, we intend to explore a collaboration with Intel on a technology platform to integrate our EyeQ ™ SoC with Intel’s market-leading central compute capability, with plans to utilize Intel Foundry Services’ advanced packaging capabilities.

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We partner with STMicroelectronics, a leading supplier and innovator of semiconductor devices for automotive applications, in manufacturing, design and research and development.

We have co-developed six generations of our automotive grade SoC, EyeQ TM , with STMicroelectronics including EyeQ TM 5 and EyeQ TM 6.

We have co-developed six generations of our automotive grade SoC, EyeQ ™ , with STMicroelectronics including EyeQ ™ 5 and EyeQ ™ 6.

We design the front-end and STMicroelectronics designs the back-end package and also includes testing, quality assurance, customer care, failure analysis and manufacturing standards.

All of our EyeQ TM integrated circuits are manufactured by or outsourced to a partner foundry by STMicroelectronics.

We have also established a relationship with Quanta Computer and other suppliers to develop and assemble our ECUs including our reference design for our Mobileye SuperVision™ solution, which includes our EyeQ TM 5 SoCs from STMicroelectronics.

As a result of our relationship with Intel, we have access to unique and differentiating technologies such as proprietary silicon photonics fabrication technologies, capable of putting active and passive optical elements on a chip together, including lasers and optical amplifiers, loaded onto a photonic integrated circuit.

We may leverage this technology, which has the ability to put an active laser in a package, for the early development of our FMCW lidar, which has the potential to replace alternative third-party lidar sensors to further enhance the performance of our sensor suite.

All of our EyeQ ™ integrated circuits are manufactured by or outsourced to a partner foundry by STMicroelectronics.

We have also established a relationship with Quanta Computer and other suppliers to develop and assemble our ECUs including our reference design for our Mobileye SuperVision ™ solution, which includes our EyeQ ™ 5 SoCs from STMicroelectronics.

Regulation and Ratings

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On October 7, 2022, the U.S.

Department of Commerce, Bureau of Industry and Security (“BIS”) announced new restrictions on the export of advanced computing integrated circuits and related items to China and certain other jurisdictions.

Based on our existing customer base and the export classifications for our existing chip products, we do not believe that these new U.S.

Department of Commerce’s Bureau of Industry and Security (“BIS”) announced restrictions on the export of advanced computing integrated circuits and related items to China and certain other jurisdictions.

Based on our existing customer base and the export classifications for our existing chip products, we do not believe that these U.S.

export controls will have a material impact on our sales of these products to our existing customers in China.

Export control regulations adopted by the United States and other jurisdictions are subject to change and interpretation, and it is possible that future regulatory actions by BIS impacting U.S.

exports of integrated circuits and related items to China could have a material impact on our business operations in China.

In 2023, BIS added to these restrictions and the U.S.

also worked with Japan and the Netherlands to align on additional restrictions on semiconductor manufacturing equipment.

In 2024, BIS further expanded export controls to limit the global distribution of high-performance integrated circuits by restricting sales through customer allocations and imposing per-country caps.

Further, on January 14, 2025, BIS announced the adoption of a final rule prohibiting certain transactions involving the sale or import of (i) connected vehicles integrating “Vehicle Connectivity System” hardware, and (ii) connected vehicles integrating “Automated Driving System” or “Vehicle Connectivity System” software, or those components sold separately, in each case with a sufficient nexus to the People’s Republic of China or Russia.

The software provisions of the final rule and the prohibition on sales of connected vehicles will take effect for model 2027 and the hardware-related prohibitions will take effect model year 2030, or January 1, 2029 for units without a model year.

We are developing compliance processes for these new rules and expect to be compliant when these restrictions are effective.

Import and Export control regulations adopted by the United States and other jurisdictions are subject to change and interpretation, and it is possible that future regulatory actions by BIS impacting U.S.

imports and exports of integrated circuits as well as certain software and hardware components used in our systems and related items could have a material impact on our business operations.

Privacy is fundamental to Mobileye.

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Our data-collection processes implement strict methodologies to comply with data protection and privacy laws, including the EU General Data Protection Regulation (the “GDPR”), the UK General Data Protection Regulation, and U.S.

federal and state law, including the California Consumer Privacy Act of 2018 (the “CCPA”), as amended by the California Privacy Rights Act of 2020 (the “CPRA”).

federal and state laws, including the California Consumer Privacy Act of 2018 (the “CCPA”), as amended by the California Privacy Rights Act of 2020 (the “CPRA”).

We leverage systems and applications that are spread over the countries in which we do business, requiring us to regularly move data across national borders.

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Additionally, U.S.

state governments have enacted new data protection and privacy laws and regulations since 2018, including California, Colorado, Connecticut, Utah and Virginia.

state governments have enacted new data protection and privacy laws and regulations since 2018, including California, Colorado, Connecticut, Delaware, Iowa, Texas, Utah and Virginia.

These new state laws and regulations may impact our business practices, including limiting our ability to use clips for internal development and validation purposes.

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Consumer AV competitors include Sony and Tesla, who are developing self-driving vehicles for consumers.

We also face competition from companies that offer “software-only” autonomous vehicle solutions, including StradVision, Autobrains and Wayve.

Developing effective ADAS technology is technologically complex, requires the development of large validation datasets in order to train the required software algorithms effectively, requires a long-term commitment to validation and qualification with an OEM before series production can even begin, and requires significant financial resources.

In addition, our tightly coupled software and hardware solutions, which are based on highly advanced, road-tested, sensing and perception technologies from decades of leadership in computer vision and powered by our mission critical software and purpose-built EyeQ TM family of SoCs are extremely hard to replicate.

In addition, our tightly coupled software and hardware solutions, which are based on highly advanced, road-tested, sensing and perception technologies from decades of leadership in artificial intelligence (“AI”), including computer vision, and powered by our mission critical software and purpose-built EyeQ ™ family of SoCs are extremely hard to replicate.

Moovit competes against urban mobility applications and MaaS solutions which provide transportation services and navigation data to consumers.

Moovit’s free and subscription-based application competition includes Alphabet, Apple, Citymapper, and Transit.

Moovit’s application also competes with on-demand service providers that provide multi-modal ride services and route planning through their own services including Lyft, TransLoc, Trapeze, Uber, and Via.

Moovit’s application also competes with local urban and inter-city ticketing service providers that provide purchase and ticketing of public transit and mobility services on their own platform.

The principal competitive factors impacting the market for our solutions include:

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Distribution and Marketing

Our products are sold directly to customers throughout the world, or through distribution channels for our aftermarket products meant for vehicles that do not come pre-equipped with ADAS technology.

Our products are sold directly to customers throughout the world, or through distribution channels for our remaining inventory of aftermarket products meant for vehicles that do not come pre-equipped with ADAS technology.

We actively promote our brand and technologies to increase awareness and generate demand through direct marketing as well as co-marketing programs.

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Our research and development activities are predominantly conducted in Israel.

We have more than 85% of our full time-equivalent employees engaged in research and development, many of whom have been with the company for significant tenures.

We have approximately 85% of our full time-equivalent employees engaged in research and development, many of whom have been with the company for significant tenures.

Our research and development efforts focus on algorithms, including visual processing, camera control, vehicle control, camera/radar fusion, autonomous driving sensing technologies, REM ™ technology, driving policy and related engineering tasks as well as application software, silicon design and hardware electronics design.

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we will cooperate with Intel, at its request, to accomplish a distribution by Intel of our common stock to Intel stockholders which is intended to qualify as a distribution under Section 355 of the Code, or any corresponding provision of any successor statute, and we have agreed to promptly take any and all actions reasonably necessary or desirable to effect any such distribution, in which Intel will determine, in its sole and absolute discretion, whether to proceed with all or part of the distribution, the date of the distribution and the form, structure and all other terms of any transaction to effect the distribution;

so long as Intel beneficially owns at least 20% of our common stock, we will sell Intel our commercially available products, including EyeQ TM SoCs, for internal use, but not for resale on a standalone or bundled basis;

so long as Intel beneficially owns at least 20% of our common stock, we will sell Intel our commercially available products, including EyeQ ™ SoCs, for internal use, but not for resale on a standalone or bundled basis;

we and Intel agree to hold the other in most favored status with respect to products purchased or sold for internal use, meaning that the product prices, terms, warranties and benefits provided between us and Intel shall be comparable to or better than the equivalent terms being offered by the party providing the products to any single, present customer of such party;

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In connection with the Mobileye IPO, we entered into a LiDAR Product Collaboration Agreement with Intel and a Technology and Services Agreement with Intel pursuant to which Intel granted us a limited license to sensitive core technology relating to lidar and radar, respectively.

Pursuant to the LiDAR Product Collaboration Agreement, the license is limited to a particular lidar sensor system for ADAS and AV systems in automobiles and to certain types of customers (Tier 1s, OEMs and MaaS), and the development by us of any future products based on Intel technology will depend on future agreements.

Further, we are not licensed to manufacture products based on Intel technology with anyone other than Intel.

In 2023, Mobileye opted to pursue a different lidar technology, and as a result, Mobileye and Intel are no longer actively working on developing the LiDAR Project under the LiDAR Product Collaboration Agreement.

Mobileye and Intel have begun negotiation of an amendment to the LiDAR Product Collaboration Agreement which contemplates the parties’ cessation of lidar development work and Mobileye’s potential, continued use of certain licenses granted by Intel under the LiDAR Product Collaboration Agreement.

In connection with the foregoing, Mobileye would no longer be obligated to share its profits associated with the LiDAR Project with Intel, and Intel would no longer be obligated to provide development services for the LiDAR Project and fund Mobileye’s lidar investments beyond the $40 million per year threshold set forth in the LiDAR Product Collaboration Agreement.

Final commercial terms for this amendment remain subject to further negotiation by Mobileye and Intel.

Pursuant to the LiDAR Product Collaboration Agreement, the license was limited to a particular lidar sensor system for ADAS and AV systems in automobiles and to certain types of customers (Tier 1s, OEMs and MaaS), and we were not licensed to manufacture products based on Intel technology with anyone other than Intel.

On September 9, 2024, we announced the cessation of further internal development of FMCW lidar and the wind down of our Lidar R&D Unit.

In connection with our decision, Mobileye and Intel terminated the LiDAR Product Collaboration Agreement as of October 2, 2024.

Pursuant to the Technology and Services Agreement, the license is limited to the development of a specific type of radar for specific applications, and any radar products that do not fall under the scope of the agreement will require a separate license from Intel, at Intel’s discretion.

As a result, we will not own most new lidar and radar intellectual property, even if developed solely by us.

If we are not able to continue to use or license sensitive core technology related to lidar and radar from Intel, we may not be able to secure alternatives in a timely manner or at all, and our ability to remain competitive would be harmed and that could adversely affect our business, results of operations and financial condition.

As a result, we will not own most new radar intellectual property, even if developed solely by us.

If we are not able to continue to use or license sensitive core technology related to radar from Intel, we may not be able to secure alternatives in a timely manner or at all, and our ability to remain competitive would be harmed and that could adversely affect our business, results of operations and financial condition.

See “Item 1A.

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Several of our directors also serve as officers, directors and/or other positions at Intel.

Gelsinger, the Chair of our Board of Directors, is the Chief Executive Officer and a director of Intel.

Yeboah-Amankwah, the Chair of our Board of Directors, is a Senior Vice President and the Chief Strategy Officer of Intel.

Schell, our director, is an Executive Vice President and the Chief Commercial Officer of Intel.

Pambianchi, our director, is an Executive Vice President and the Chief People Officer of Intel.

Huntsman, our director, is the co-chair of the Government Affairs Advisory Committee of Intel.

Yeary, our director, is a director of Intel.

Bombach, our director, is a Corporate Vice President, Assistant Secretary and Head of Corporate Legal at Intel.

Yeary, our director, is the Interim Executive Chair and a director of Intel.

See the information under the heading “Item 13.

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Chief Financial Officer

Gavriel Hayon

Executive Vice President, Research and Development

Executive Vice President, EPG Software

Shai Shalev-Shwartz

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in accounting and law from Tel Aviv University in Israel and is a licensed certified public accountant.

Gavriel Hayon has been serving as our Executive Vice President, Research and Development since 2018.

Hayon joined Mobileye in 1999 as an algorithm developer and since then led teams responsible for computer vision algorithms and led the algorithms department.

Hayon became the Vice President of Research and Development, leading the development of and bringing to production multiple ADAS products.

From 2017 to 2022, following our acquisition by Intel, Dr.

Hayon served as a Vice President of Intel.

Prior to his work at Mobileye, Dr.

Hayon was an algorithms developer at Applied Materials (Nasdaq:

Hayon received his Ph.D.

in AI from the Hebrew University, his M.Sc.

in physics from the Weitzman Institute and his B.Sc.

degree in physics from the Technion Israel Institute of Technology.

Boaz Ouriel has been serving as our Executive Vice President, EPG Software since 2023.

From December 2017 to April 2022, following our acquisition by Intel, Mr.

Ouriel was an Intel employee assigned to work for Mobileye.

Ouriel joined Mobileye as an employee in April 2022 as Senior Director Software Development Manager.

Ouriel has over 20 years’ experience at Intel and Mobileye leading the development of middleware and low-level software, with a focus on performance optimization and a specialty in building robust compilers and unique compute-oriented programmable accelerators.

Ouriel received a BSc in applied mathematics and computer science from the Technion, where he graduated with honors, and an executive MBA from the Recanati Graduate School of Business Administration.

He is an OpenCL veteran, contributing to the definition of the OpenCL standard, is the former editor of the SPIR-V 1.0 specification, and the recipient of numerous patents and awards in his field.

Shai Shalev-Shwartz has been serving as our Chief Technology Officer since 2018.

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from the Hebrew University of Jerusalem.

Nimrod Nehushtan has been serving as our Executive Vice President of Business Development & Strategy and Co-Manager of REM TM since 2023.

Nimrod Nehushtan has been serving as our Executive Vice President of Business Development & Strategy and Co-Manager of REM since 2023.

Prior to his current position, Mr.

Nehushtan served as Senior Vice President of Business Development & Strategy and Co-Manager of REM TM .

Nehushtan served as Senior Vice President of Business Development & Strategy and Co-Manager of REM.

Prior to that, Mr.

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business