Mobileye Global Inc. (NASDAQ:MBLY) Q3 2023 Earnings Call Transcript

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Amnon Shashua: So, there have been detailed benchmarks comparing by us, by Chile, by store parties comparing ZR-001 with MCP comparing to Xpento to mio to auto. The difference is striking in terms of measuring the mean time to intervention, all sorts of things, how much time it takes to go to point A to point B. The ZR-001 was by tens of percent faster much, let’s say, intervention rate by order of magnitude, less intervention rate. Now the difference is really striking. Some of those systems, I think all of them are relying on a high-definition map, the conventional high-definition map which they already have mentioned that they cannot scale it, t’s too expensive to the scale where the Mobileye doesn’t queue the conventional high-definition definition map.

And those systems are much more expensive. As you mentioned, the compute sometimes it’s about 10x more compute than what we have many more sensors, more radars, trans facing Lazar and some of them, they have 2 front-facing Lazar. So, I think we are very confident. We have a good value proposition in terms of performance, in terms of cost, in terms of ability, our capabilities allow scalability, geographic scalability that a conventional high-definition maker will find it very difficult to compete. The kind of benchmarks that have been conducted is how the behavior when you approach a construction zone when there is a block plan. So, it was a very detailed benchmark. It’s not just intervention rates. And really, the difference is to IT.

Pierre Ferragu: Thanks. Great. And just a quick follow-up, and I’m sorry to come back to that, but I just want to make sure I get the whole thing complete. You have your 10 OEMs of which like 3 you’ve announced they represent 34% of the market. And what you say that of the 7 that are not confirmed yet, you’re like confidence ratio, I would say, in terms of converting them is between 50% and 99%, depending on which one we’re talking about. And then you had an additional 15% of the market on which confidence is below 50%, I assume. Is that the right way to wrap all that into just one sentence?

Amnon Shashua: Yes. I’ll take the range within 50 to 99, but the 50% is only one of them. The rest is higher than 80% and one of them is 99%.

Pierre Ferragu: Excellent. Thank you for the final clarification on that.

Dan Galves: Thank you, Pierre. Kyle, unfortunately, we’ve run out of time. So, if you could move to close the call, please. Thanks, everyone, for joining us. We’ll talk to you next quarter. I really appreciate the interest.

Operator: Okay. Perfect. This concludes today’s teleconference. You may disconnect your lines at this time. Thank you for your participation and have a great day.

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