The road to the autonomous-vehicle future, we firmly believe at Mobileye, is through robotaxis. That’s why we’re very excited to welcome Moovit into the fold as the latest acquisition by our parent company Intel and a key addition to our business.
For those unacquainted, Moovit is a comprehensive mobility platform that allows users to plan and execute their travel using a variety of modes of transportation, including public transit, shared bicycles and scooters, ride-hailing, and car-sharing services. Based in Tel Aviv, Moovit has partnered with over 7,500 transit agencies and operators, and serves over 800 million users in 3,100 cities across 102 countries around the world. Those are some pretty impressive numbers considering that Moovit was only founded in 2012, its growth fueled by a seven-fold increase in users in the past two years alone.
“Intel’s purpose is to create world-changing technology that enriches the lives of every person on Earth, and our Mobileye team delivers on that purpose every day,” said Intel CEO Bob Swan. “Mobileye’s ADAS technology is already improving the safety of millions of cars on the road, and Moovit accelerates their ability to truly revolutionize transportation – reducing congestion and saving lives – as a full-stack mobility provider.”
The Moovit acquisition represents a key investment that we anticipate will help us realize enormous potential. The combination of Mobileye’s technology and Moovit’s platform will enable us to grow together into a complete mobility-as-a-service (MaaS) provider and tap into a market projected to be worth $160 billion within the next ten years – or more than $230 billion when combined with the markets for ADAS and data technologies that are among Mobileye’s key areas of expertise.
“Moovit’s massive global user base, proprietary transportation data, global editors community, strong partnerships with key transit and mobility ecosystem partners, and highly skilled team is what makes them a great investment,” noted Professor Amnon Shashua, CEO of Mobileye and Senior Vice President at Intel. “Moovit is a strong brand trusted by hundreds of millions of people globally. Together, with Mobileye’s extensive capabilities in mapping and self-driving technology, we will be able to accelerate our timeline to transform the future of mobility.”
“We are excited to join forces with Mobileye and lead the future revolution of new mobility services,” added Moovit CEO Nir Erez. “Mobility is a basic human right, and as cities become more crowded, urban mobility becomes more difficult. Combining the daily mobility habits and needs of millions of Moovit users with the state-of-the-art, safe, affordable and eco-friendly transportation enabled by self-driving vehicles, we will be able to make cities better places to live in. We share this vision and look forward to making it a reality as part of Mobileye.”
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