Mobileye, Intel To Build Fully Autonomous BMW Cars

Mobileye NV , Intel Corp. and BMW Group announced a partnership on Friday to bring fully autonomous cars to streets by 2021. The companies said the driverless cars will be able to go on highways as well as be used in clustered urban areas for ridesharing services. Their goal is to make cars completely autonomous, meaning a driver would not only be able to take their eyes off the road, but also focus their attention elsewhere and let the system take over complete control. This announcement comes despite recent criticism that some people have become too reliant on the functionality of semi-autonomous cars, which led to the fatal crash of a Florida man in a Tesla Motors Inc. Model S last month. Shares of Mobileye, which provides technologies that enable autonomous driving, fell 1.4% in premarket trade, though they soared 10% on Thursday when the companies announced the press conference. Shares of Intel ticked 0.3% lower in premarket trade after closing up 3% on Thursday.

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