Intel to Pursue New York Listing for Autonomous Driving Tech Subsidiary Mobileye

[Asia Economy Reporter Yujin Cho] The American semiconductor company Intel is reportedly planning an initial public offering (IPO) for its autonomous driving technology subsidiary Mobileye, according to the Wall Street Journal (WSJ) on the 6th (local time).

Sources said Intel is expected to officially announce Mobileye's listing plan as early as this week. Mobileye is scheduled to be listed on the New York Stock Exchange, but details such as the size and timing of the listing were not disclosed.

If this IPO succeeds, Mobileye's corporate value is expected to exceed $50 billion (approximately 59 trillion KRW).

Headquartered in Israel, Mobileye is regarded as the world's number one company in the advanced driver-assistance systems (ADAS) sector. It possesses core technologies for future autonomous vehicles, such as cameras installed inside vehicles that notify speed limits and collision risks.

Mobileye was acquired by Intel in 2017 for $15.3 billion, and its sales have surged since the acquisition. As of the third quarter of this year, Mobileye's sales reached $326 million, an increase of about 39% compared to the same period last year.