Reported about 1 month ago
Mobileye has announced it will discontinue its lidar development unit due to uncertain demand, impacting approximately 100 employees. The closure, expected by the end of 2024, will not affect existing customer products or overall product development. Despite this, Mobileye aims to continue progressing its in-house imaging radar technology and has adjusted its revenue forecasts in light of declining demand for its chips in China.
Source: YAHOO