Mentioned:
One of the leading publicly traded companies in North America focused on autonomous driving technology is placing a bet on something new: humanoid robots.
What’s happening:
- Mobileye (NASDAQ: MBLY) has entered into a new deal to acquire Mentee Robotics for $900M USD in cash and stock
By the numbers:
- Mobileye will pay $612M USD to Mentee Robotics in cash and up to 26.2M common shares as part of the new purchase
Why it matters:
- This is the first time ever that Mobileye has made an acquisition to venture into humanoid robotics
Going deeper:
- Mentee Robotics is a vertically integrated humanoid robot company that designs nearly all of its own core parts including motors, hands and swappable battery packs
- Mentee Robotics’ flagship humanoid robot MenteeBot can walk, run, carry significant weight and is capable of doing fully autonomous tasks inside of warehouses
- Mobileye has publicly stated that they believe that autonomous vehicles and humanoid robotics will share many of the same technological breakthroughs and plan to collaborate closely with the founding team of Mentee Robotics to develop new artificial intelligence software and models
