FAW Group, Mobileye sign MOU on strategic cooperation to advance intelligent driving

On Sept. 13, FAW Group and Mobileye convened a Memorandum of Understanding (MOU) signing ceremony in Changchun, northeast China’s Jilin Province.

During the ceremony, Liang Guiyou, vice president of FAW Group and Nimrod Nehushtan, executive vice president of Mobileye, completed the signing of the agreement. This collaboration seeks to establish a new partnership wherein both parties will utilize their respective industry advantages in software, hardware and technology products. The ultimate goal is to combine their technology and product offerings, ensuring consumers experience efficient and remarkable travel experiences.

As a pioneer of China’s automotive industry, FAW Group remains steadfast in its mission to enhance user experiences through technological innovation and service upgrades. Mobileye, on the other hand, stands at the forefront of the mobility revolution, championing autonomous driving and driver assistance technologies. This prowess is bolstered by their globally recognized expertise in computer vision, artificial intelligence, mapping, and data analytics. The collaboration will transcend the boundaries of a conventional partnership, driving both companies to delve deeper into the realms of intelligent transportation and driving solutions. With the fusion of cutting-edge innovation, FAW Group is anticipated to set new industry benchmarks.

FAW Group is accelerating its intelligent tech strategy. Building upon the MOU, FAW Group plans to fully integrate its partners' software and algorithm advantages with its own excellent innovation capabilities. The company strives to cultivate more groundbreaking user experiences, shaping the future of advanced and convenient intelligent travel in the new era.

Also in attendance were Qiu Xiandong, chairman of BOD of FAW Group; Lei Ping, vice president of FAW Group; and Amnon Shashua, president and CEO of Mobileye; and Elie Luskin, vice president of Mobileye China.

About FAW Group

CHINA FAW GROUP CO., LTD. (FAW Group), is a state-owned mega automobile enterprise group, which is one of the key construction projects of the national "First Five-Year Plan". In 1953, the foundation was laid, and the company was put into operation in 1956 and manufactured China's first truck (Jiefang). In 1958, it manufactured China's first minivan (Dongfeng brand) and the first high-class sedan (Hongqi brand).

After 70 years of development, FAW Group has established five production bases in Northeast China, North China, East China, South China and Southwest China, with a vehicle production capacity of 5.12 million vehicles per year, constructed a globalized R&D layout, and possessed its own brands such as Hongqi, Jiefang, Bestune and other joint-venture brands such as Volkswagen (Audi), Toyota, and so forth, and has cumulatively produced and sold more than 56 million vehicles (as of the end of August), with its sales volume consistently ranked No. 1 in China's automobile industry. The sales volume has always ranked first in China's automobile industry.

About Mobileye

Mobileye (Nasdaq: MBLY) leads the mobility revolution with its autonomous driving and driver-assistance technologies, harnessing world-renowned expertise in computer vision, artificial intelligence, mapping, and data analysis. Since its founding in 1999, Mobileye has pioneered such groundbreaking technologies as REM™ crowdsourced mapping, True Redundancy™ sensing, and Responsibility Sensitive Safety (RSS). These technologies are driving the ADAS and AV fields towards the future of mobility – enabling self-driving vehicles and mobility solutions, powering industry-leading advanced driver-assistance systems and delivering valuable intelligence to optimize mobility infrastructure. To date, more than 150 million vehicles worldwide have been built with Mobileye technology inside.