Home Headline News Intel is a Buy

Intel on Monday said it is supplying self-driving systems to Silicon Valley startup Udelv, which plans to have a fleet of autonomous delivery vehicles in action within two years.

Udelv and the Mobileye unit at Intel aim to produce more than 35,000 driverless “Transporters” by the year 2028, the companies said in a joint release.

“Our deal with Udelv is significant for its size, scope and rapid deployment timeline,” said Mobileye chief Amnon Shashua.

“COVID-19 has accelerated demand for autonomous goods delivery, and we are delighted to partner with Udelv to address this demand in the near term.”

The comprehensive Mobileye Drive system will allow Udelv to ramp up production and deployment of Transporter vehicles, according to the startup’s chief executive, Daniel Laury.

Udelv automated delivery vehicles combine self-driving technology with robotics to assist with unloading cargo, according to its website.

“Early on, we determined that one element is inseparable from the other,” Udelv said in a post.

“Without autonomy, one cannot remove the driver; and without the delivery robotics, an autonomous vehicle remains utterly useless.”

The company said it has made thousands of automated deliveries in the US, carrying payloads of more than 800 pounds (363 kilograms).

Autonomous driving technology is expected to catch on first for deliveries, since they involve carrying products instead of people along typically repetitive routes.

E-commerce colossus Amazon; internet giant Google, and electric car maker Teslas are among companies investing in systems to enable vehicles to safely drive themselves.

Intel recently said it will invest $20 billion in building two new plants in Arizona as part of a plan to ramp up chip production in the United States and Europe.

The move comes as a global chip shortage has countries and companies in those regions looking to reduce reliance on plants in Asia for semiconductors, which are used in a growing array of products such as cars.

You may also like


Your Trusted Source for Capital Markets & Related News

© 2024 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.