Mobileye exceeds revenue expectations for the quarter.

(Reuters) – Autonomous driving tech ⁣firm Mobileye Global exceeded expectations with its quarterly revenue, showcasing the strong demand for its driver-assistance technology from leading automakers.

The company, with esteemed customers such as BMW, ‍Nissan, and Volkswagen, experienced⁣ robust demand for its technology in North ⁢America and Europe, effectively offsetting ⁣any weaknesses in the Chinese market.

Industry analysts predict that while ⁤Geely-owned Zeekr will drive shipments in ⁢2023-2024, Mobileye’s expanding pipeline could serve as ‍a positive catalyst.

Based in Israel, ⁢Mobileye reported second-quarter revenue of $454.0 million, surpassing analysts’ estimates of $450.6 million, according to data from Refinitiv.

Mobileye’s U.S.-listed shares saw a 2% increase in premarket trading.

(Reporting by​ Samrhitha Arunasalam ‍in Bengaluru; Editing by Shounak Dasgupta)

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