Equity Snap: Mobileye Global Inc (MBLY US): New design win with Stellantis – first take

研报英文原文证据摘录

Equity Snap: Mobileye Global Inc (MBLY US): New design win with Stellantis – first take

21 July 2026

Equity Snap: Mobileye Global Inc Equities Auto Components

(MBLY US)

New design win with Stellantis – first take Israel

◆ Design win for cloud-enhanced ADAS; volumes undisclosed, Pushkar Tendolkar*

ASP likely between EyeQ and Surround ADAS GlobalHSBC SecuritiesAutos Analystand Capital Markets (India) Private

Limited

pushkarnarendratendolkar@hsbc.co.in

Mobileye Global Inc (MBLY US, USD8.95, Hold, TP USD8.50) +91 80 4555 2752

(Priced as of 20 Jul 2026) Michael Tyndall*, CFA

Senior Global Autos Analyst

Design win with Stellantis: Mobileye has announced that its Cloud-Enhanced HSBC Bank plc

Advanced Driver Assist technology will be integrated into select future Stellantis michael.tyndall@hsbc.com

+44 20 3359 6301

vehicles expected in 2027 (starting with the US). The product will support selected

Alice Martin*

safety and convenience features, from intelligent lane keeping on unmarked roads to Global Autos Analyst

hands-free, eyes-on driving in designated areas and conditions (below L3). Volumes, HSBC Bank plc

alice.martin@hsbc.com

model lines, and phasing of the order are not disclosed. Stellantis sold 1.6m vehicles +44 20 7992 0175

in the US and 5.6m globally in 2025a.

* Employed by a non-US affiliate of HSBC Securities (USA) Inc, and is

New orders are coming but from lower ASP products: Mobileye has seen not registered/ qualified pursuant to FINRA regulations

multiple business wins this year, with its order pipeline at USD24.5bn (over 8 years),

c40-45% above the level indicated three years back. However, these business wins

appear to be in the lower ASP products (the ASP for the Stellantis business could be

between that of EyeQ and Surround ADAS, its lower ASP products).