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QINGDAO TODAY
在线翻译:
szdaily -> Business -> 
Mobileye leads Israeli charge into China’s car market
    2019-01-10  08:53    Shenzhen Daily

ISRAEL-BASED Mobileye, which makes technology for autonomous driving, said Tuesday it was expanding its business in China with two new partnerships, paving the way for smaller Israeli competitors that could benefit from Sino-U.S. trade tensions.

Mobileye, bought by Intel in 2017 for US$15 billion, has been making inroads in China, the world’s biggest auto market where self-driving projects are being rolled out at pace.

Israeli rivals have also been winning work in China and could get a boost from the trade war that has reduced Chinese investment in U.S. tech-hub Silicon Valley.

Mobileye has signed a memorandum of understanding with Great Wall Motors to integrate advanced driver assistance systems in a range of vehicles over the next three to five years and to develop more advanced autonomous systems for China. A second partnership with Beijing Public Transport Corp. and Beijing Beytai aims to bring autonomy to public transport.

Mobileye did not disclose financial details of the deals.

“There is a strong pull for Israeli technology in China,” said Erez Dagan, the company’s vice president of product and strategy.

Mobileye signed 16 deals in China in 2018, when half of the company’s design wins were Chinese, he said.

Israel and China do more than US$10 billion a year in trade.

Chinese investment in Israeli technology has been on the rise for years. Israeli tech startups raised US$325 million from Chinese investors in the first three quarters of 2018, up 37 percent from a year earlier, according to the Israel Venture Capital Research Center. The third quarter of 2018 was the strongest for Chinese investment in the past five years.

Intel’s deal with Mobileye put a spotlight on Israel’s autonomous driving sector, comprised of more than 500 startups and largely based on technology that has helped the country’s military drive tanks, guide and intercept missiles, and keep its computer systems secure.

Some in the industry say new U.S. regulation aimed at curbing China’s access to American innovation could send more customers and investors their way.

“This is an opportunity for Israeli companies and this is why we are considering going more to China. China will look more to Israel,” said Ronny Cohen, CEO of VayaVision, whose perception technology creates a 3D model of a self-driving car’s surroundings.

VayaVision, which in October raised US$8 million, has one project in China.(SD-Agencies)

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