Israeli company to provide technology for 8 million self-driving cars

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As interest in self-driving cars rises, Intel and Mobileye face stiff competition from players including Uber, Tesla and Mercedes-Benz to get fully autonomous vehicles on the road by 2019.

The terms of the deal and the name of the automaker weren't revealed, a company official told Reuters. Automakers alone have generally lagged behind developing these new technologies.

The advanced driver-assisted systems to be outfitted to the cars will be based on Intel's EyeQ5 chip, due out 2021 and created to be capable of fully autonomous driving.

Some of the automakers that Mobileye will be working with are Audi, BMW, Chrysler, General Motors, Honda, Nissan, and Chinese carmarker Nio. That chip is an upgrade to its EyeQ4 chip that's going to be released in the coming weeks.

Mobileye is estimating that there will be over 100,000 vehicles carrying Level 3 self-driving classification with their chips installed.

Mobileye has claimed there are now about 27 million cars worldwide using some form of driver-assistance technology, and that it has a 70 percent share of the self-driving auto technology market.

The deal will give these vehicles Level 3 capability, which means the vehicle drives itself but the driver has about 10 seconds to resume control of the vehicle is something goes awry.

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The agreement for advanced power steering systems will begin in 2021, when Intel's EyeQ5 chip, which is designed for completely autonomous steering is launched.

The system will be available on a variety of the automaker's vehicle models that will have partial automation - where the auto is automatically driven but the driver must stay alert, i.e.

To date, no level 3 cars are being sold to consumers, but that may change as a result of this new partnership. Amnon Shashua, the co-founder and CEO of Mobileye, said the company has started testing its self-driving cars on highways around Jerusalem in recent months. Alphabet's self-driving arm Waymo plans to begin a commercial self-driving ride-hailing service later this year in Arizona.

"When designing our system we are looking at all what can be used today, in a year, in two years and then the robo-taxi", Shashua said.

In addition to cameras, future autonomous vehicles will rely in AI and machine learning and sensor fusion to navigate.

As such, Shashua said, autonomous cars can not rely on just cameras.