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Musk is betting on the technology to become cash cow for the world's most valuable automaker. But he has for years failed to achieve the goal of self-driving capability, with the technology under growing regulatory and legal scrutiny
Shares of the Israel-based company, whose customers include Volkswagen and Porsche, tumbled 28.2% to more than a one-year low of USD 28.52. Mobileye forecast preliminary 2024 revenue below estimates showing that the automotive chip industry, which had so far avoided the chip supply glut crisis, will likely face a downturn too.
Pittsburgh, Pennsylvania-based Aurora and California startup Gatik are among companies developing self-driving technology for vehicles that operate on set routes
Tesla's stock experienced a significant stumble, resulting in a notable decrease in the wealth of billionaire CEO, Elon Musk.
Cruise, the autonomous vehicle unit owned by General Motors, is suspending driverless operations nationwide days after regulators in California found that its...