Mobileye: Time to take greater control

研报英文原文证据摘录

Mobileye: Time to take greater control

Deutsche Bank

Research

Rating Company Date

Buy Mobileye 22 June 2026

North America Reuters Bloomberg Rating Buy

United States MBLY.OQ MBLY US Price target (USD) 14.00 Price at 18 Jun 26 8.46

52-week range 19.08 – 6.56

Consumer

Autos & Auto Technology Valuation & Risks

Time to take greater control

Edison Yu

Mobileye announced last week it will establish a vertically integrated robotaxi Research Analyst

+1-212-250-7263 business (owner + operator of fleet) starting with 100 vehicles in the US next year,

scaling to 17k in five years. We generally like the move but acknowledge it is a Ross Seymore

somewhat late pivot and think it may reflect impatience with partners not moving Research Analyst

fast enough despite clear consumer demand signals. With the fully integrated +1-415-617-3268

service, we anticipate Mobileye can finally demonstrate its technology

Winnie Dong capabilities in unrestricted ways, paving a path to either being a truly direct Research Analyst

competitor to Waymo or high-volume supplier to Uber/Lyft. Near-term capex will +1-212-250-5121

be minimal but going direct to consumer likely ultimately requires billions of

capital. Mobileye will host a CMD in early December where we expect to hear James Mulholland, CFA

more on specific plans for both robotaxi and Mentee (humanoid). Research Associate

+1-212-250-6026

Expanding value capture in robotaxi ecosystem

Mobileye is expanding its role in the robotaxi value chain by combining its self-

driving system, Mobileye Drive, with its Moovit mobility platform to offer a full

service offering, aiming to deploy an initial fleet of 100 vehicles in a major US

metropolitan market next year, and subsequently scaling to ~17,000 vehicles over

five years.