In 2007, following eight years of research and development, Mobileye’s system-on-chip product went into production with global automakers for the first time. Over the next five years, Mobileye produced one million chips. Today, over 40 million cars have Mobileye technology installed, and our products have been selected for implementation in serial production of 313 car models from our 27 OEM partners by 2017 (compared to 36 car models across seven OEMs in 2010). From Mobileye’s perspective, the best proof of how well our technology works and how much impact we are having on vehicle safety is in the number of partners we have, and how many of our programs are currently and soon-to-be on the road.

We credit our success with OEMS to the accuracy of our machine vision algorithms, our ability to demonstrate future advancements in safety technology years ahead of planned deployments, and our proven ability to bring these advancements into production on time. Mobileye’s software demonstrates extremely high accuracy in a safety-critical area of the vehicle, where false negatives can cost lives and false positives can drive costly recalls. Our focus on safety is the core reason why Mobileye’s EyeQ® chip volume grew from 182,000 units in 2010 to 4.4 million in 2015.

Mobileye also offers its collision avoidance technology as an aftermarket product to be retro-fitted on vehicles that do not come pre-equipped. Our aftermarket customers include commercial and governmental fleets, vehicle dealers, and auto accessory distributors. Our Aftermarket Mobileye 6-Series product, which incorporates the Mobileye EyeQ® system-on-chip and related algorithms and software on a windshield-mounted vision sensor unit, has seen significant success as road safety organizations and interest groups adopt ADAS to reduce road traffic injuries and damage from collisions.

We expect substantial future growth from further adoption of ADAS technologies, as well as early volumes of higher-level autonomous systems which carry higher Average Selling Prices for Mobileye chips.