Tesla’s MobilEye partner is going public

Tesla-Mobileye
Tesla Motors Inc (NASDAQ:TSLA), the electric car company founded by Elon Musk, will be releasings its earnings statement next week and call it kismet or good planning, but Tesla has more good news: its partner Mobileye (NYSE:MBLY), the company that will be giving it driverless technology, said it will open on the New York Stock Exchange this week, with shares ranging between $17 and $19 each.

Want to buy into Tesla’s technology through the back door? The Israeli company is offering 27.8 million shares in a deal valued around $499.5 million. A Tesla spokesperson reportedly revealed nothing about the partnership other than it is “a business relationship.”

Mobileye makes technology that alerts people of an incoming accident. Its software around since 1999 is in use widely in Israel by taxi drivers there, and according to Silicon Beat, Mobileye expects its technology will be available in 160 different kinds of cars from 18 different global automakers by the end of this year.

Mobileye’s technology detects pedestrians and lets drivers know if they have left their lanes or about to collide with something.

Green lovers the world over are rooting for Tesla, about to reveal its earnings report – covering its gigafactory and busiess in China.

Tesla wants to have driverless tech in its cars by 2016 and some say that the Israeli tech will be the secret weapon.

Driverless cars are gaining publicity since Google Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) started working on them. These kinds of cars are the future – in a world with less emissions and accidents. We are rooting for Tesla.

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