Tesla Motors Inc (NASDAQ:TSLA) Rattled By Mobileye-Lucid Motors Partnership

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Tesla Motors Inc (NASDAQ:TSLA) Rattled By Mobileye-Lucid Motors Partnership

The race for the next big thing in self-driving cars has started, Mobileye having teamed up with Lucid Motors as they look to take the pioneer of electric cars, Tesla Motors Inc. (NASDAQ:TSLA), head on. The two companies are planning to integrate their technologies as they look to advance their self-driving technology.

Self-Driving Features Race

Self-driving features will in the coming years be an expected component in most luxury offerings thus the increased investment on this front by major automakers. Any company that advances its technology on this front should be able to set itself apart from the competition in the race for customers’ dollars.

Mobileye teaming up with Lucid Motors comes on the heels of a bitter split from Tesla, early last year, after the first major autopilot accident that resulted in one fatality. At the time, the Israeli firm was a major supplier of the electric car giant having contributed a great deal on the working of autopilot.

Lucid Motors-Mobileye Plans

The car camera company is now looking to put the past behind it as it looks to make a mark for itself on the back of a partnership with Lucid Motors. As it stands, Mobileye is set to furnish Lucid with its camera technology essential for enhancing autonomous driving. The two are already down to business having confirmed a major roll out in early 2018.

“Lucid will launch its first car, the Lucid Air, with a complete sensor set for autonomous driving from day one, including camera, radar and LiDAR sensors. Mobileye was chosen to provide the primary compute platform, full 8-camera surround view processing, sensor fusion software, Road Experience Management (REM™) crowd-based localization capability, and reinforcement learning algorithms for Driving Policy,” Lucid in a press release.

Lucid says its new car will not be a direct competitor to Tesla’s Model S but instead will look to take on other upper-class luxury vehicles like Mercedes Benz. How true that is, is a point of discussion given that tech companies are looking to taking Tesla head on, in the production of self-driving electric cars.

Tesla stock was down by $0.99 in Monday trading session closing the day at lows of $213.69 a share.