September 10, 2024 /SemiMedia/ — Israeli autonomous driving technology company Mobileye announced on Monday that it will cease the development of a sensor technology used for detecting objects and measuring distances due to an uncertain demand environment. As part of its streamlining efforts, the company has decided to halt the internal development of its next-generation Frequency Modulated Continuous Wave (FMCW) lidar. Mobileye clarified that this decision will not impact any existing customer product plans or development efforts.

Mobileye plans to shut down its lidar research and development division by the end of 2024, affecting around 100 employees. The company currently employs 3,700 people worldwide. Mobileye expects the operating costs of the lidar R&D division to be approximately $60 million in 2024.

The company stated that the decision was influenced by several factors, including significant progress in its EyeQ6-based computer vision technology and improved performance of its internally developed imaging radar. Additionally, the declining costs of third-party time-of-flight lidar units, which have fallen faster than expected, contributed to the decision to end internal FMCW lidar development. Despite these changes, Mobileye anticipates that closing the lidar division will not significantly impact its 2024 financial performance.

Mobileye also plans to continue the development of its internal imaging radar, which is expected to enter production next year.

Previously, Mobileye had announced the closure of its aftermarket solutions division, which provides retrofitted advanced driver-assistance systems, affecting approximately 130 employees. In related news, chipmaker Intel is reportedly considering selling part of its stake in Mobileye.