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Could It Soon Be Illegal To Drive Your Car?

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Could It Soon Be Illegal To Drive Your Car?

It is no doubt that autonomous cars are the future. But, Ziv Aviram, co-founder, president and CEO of Mobileye NV (NYSE: MBLY), went a step ahead and told CNBC that driving will be illegal in another 20 years.

Jerusalem, Israel-based Mobileye creates chips, apps and software algorithms, with its flagship EyeQ chip deployed in 3.3 million vehicles.

Aviram said his company will provide the first fully autonomous cars on the road by 2021 and they are supplying parts for Tesla Motors Inc (NASDAQ: TSLA)'s autopilot driving system.

Related Link: Piper Jaffray Initiates Coverage On Mobileye At Overweight, Announces $50.00 PT

"I believe the wave that was created around the autonomous driving is so big that is already a fact. We work among all customers and half of them are preparing semi auto or fully autonomous cars that is going be presented in the next couple of years. It is very exciting in our arena these days," Aviram told CNBC.

Aviram also said, "We are in the middle of a biggest revolution in the automotive industry in the last 100 years. The way we are going to use the cars is going to change completely."

Aviram, who highlighted that the future belongs to driverless cars and share mobility driving, expects people to reduce their numbers of cars in the future, cutting down the numbers of cars around the world.

Commenting on the company's prospects in China, the executive said China is the fastest growing automotive market, "But they are lagging one step behind U.S., U.K., Koreans and Japanese."

Although he believes the first automotive vehicles will be from one the above markets, Aviram said the Chinese are very close to close the gaps and believes they will be a major player in the future in this market.

Shares of Mobileye closed Thursday's trading session at $37.38.

 

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