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Mobileye shares plunge after self-driving tech company cuts guidance amid Tesla's EV price war

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Several Chinese EV makers are key early customers for Mobileye's newest and most advanced driver-assist system.

But things should look up later in the year as Polestar and others begin shipping new cars with Mobileye's tech, the CEO said.

Mobileye signage during the company's IPO at the Nasdaq MarketSite in New York, US, on Wednesday, Oct. 26, 2022. Mobileye Global Inc., the self-driving technology company owned by Intel Corp., priced one of the biggest US initial public offerings of the year above its marketed range to raise $861 million.

 

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