Mobileye has announced it has chosen to end the internal development of next-gen frequency modulated continuous wave (FMCW) LiDAR for use in autonomous and automated driving systems.
It says this decision was based on a variety of factors, including substantial progress on its EyeQ6-based computer vision perception, increased clarity on the performance of our internally developed imaging radar, and continued better-than-expected cost reductions in third-party time-of-flight LiDAR units.
As part of its regular review of long-term technology roadmap, Mobileye says it believes that the availability of next-generation FMCW LiDAR is less essential to its roadmap for eyes-off systems.
This action does not impact any of its customer product programs or product development in general.
The LiDAR R&D unit will be wound down by the end of 2024, affecting about 100 employees.
Operating expenses for the R&D unit are expected to total approximately $60 million in 2024 (including approximately $5 million related to share-based compensation expenses).
While this action is not expected to have a material impact on Mobileye’s results in 2024, it will result in the avoidance of LiDAR development spending in the future.
