Mobileye, a Jerusalem-based developer of advanced vision and driver assistance systems, said it has installed its collision avoidance systems on 4,500 for-hire vehicles in New York City.
Together with insurer Atlas Financial Holdings, Inc., Mobileye said, it has equipped thousands of New York City-based rideshare vehicles, such as those available through popular apps including Uber and Lyft, with advanced collision avoidance systems that aim to prevent accidents.
From this month, 4,500 for-hire vehicles in New York City will feature Mobileye’s vision sensors and technologies to identify potential dangerous scenarios in real time, and alert drivers about impending collisions, giving them time to react, Mobileye said in a statement.
“As the popularity of ridesharing continues to grow in cities across the country, it is imperative that these vehicles take advantage of new technologies designed to enhance the safety of drivers and passengers,” said Moran David, director of business development at Mobileye. The technology will “provide an extra layer of safety and protection to drivers and their passengers” while also improve the behavior of drivers, he said.
The Mobileye system also integrates technology from Pointer Telocation, a developer of software that allows vehicle and fleet owners to review the driving behaviors of its operators, Mobileye said in a statement.
The introduction of Mobileye technology on the for-hire vehicles in New York City follows partnerships the Israeli firm has reached with the US Department of Transportation and other safety pilot programs in the US.
As part of the Smart City Challenge run by the USDOT, Mobileye was chosen to outfit the public bus systems with its a vision sensor technology engineered specifically to avoid pedestrian collisions in public transit systems. The Smart City Challenge was a competition to award one US city with $40 million in grants to support advanced transportation projects.
A consortium of Mobileye with BMW and Intel is among the corporate groups involved in the development of advanced driver assistance systems and self-driving vehicles. Apple, Audi, China’s search giant Baidu are all active in this field, as autonomous cars and ride-sharing apps and companies hold the promise of safer drives and less congestion and pollution.
Funding to ride-hailing companies last year was down from the “record-smashing” $13.4 billion during the 2015, which was characterized by mega-rounds and unicorn development. On an annual basis, deal activity in 2016 fell 19 percent to 56, while total equity funding was also down 19% to $10.8 billion. The decline tracks a broader global slowdown in private markets investment, New York based data company CB Insights said in a report.