Chipmaker Intel Corp has bought Israeli public transit app maker Moovit for about US$900 million to help it develop self-driving"robotaxis" that could take to the streets in early 2022, the company said on Monday.
Moovit will remain independent while its technology and the data it collects from more than 800 million users in 102 countries will be integrated into Intel's Israel-based autonomous car unit Mobileye.The price paid was nearly twice the US$500 million valuation when Moovit last raised money in 2018. The initial goal, he said, was to have a small fleet of driverless taxis in countries like Israel, France and South Korea.
"For a company like Intel, which has a very orderly plan of how the future should unfold, the coronavirus should not be a setback. On the contrary, you should look at the crisis then find opportunities," Shashua said.
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