Intel's Mobileye to supply 8 million cars equipped with self-driving technologies

This partnership is a big deal, not only for Intel, but for its competitors as well.

The report does not identify which European automaker signed the contract.

Reuters first reported the news. The name of the auto manufacturer and financial details were not disclosed.

Intel is all-in on autonomous cars.

Mobileye provides technology in the area of software algorithms that could enable autonomous cars.

Mobileye has claimed there are now about 27 million cars worldwide using some form of driver-assistance technology, and that it has a 70 percent share of the self-driving vehicle technology market.

The new system will be made available for a variety of the automaker's auto models that will have only partial automation - where the vehicle is self-driving, but needs the vigilance of a driver - as well as models integrating a more advanced system of conditional automation, the Reuters report said. The model will be a new version of EyeQ4, which will be implemented in the coming weeks, said Erez Dagan, Mobileye's senior vice president for advanced development and strategy.

Intel (NASDAQ:INTC) and its Mobileye subsidiary have started testing self-driving vehicles in Jerusalem.

The first of the IntelMobileye 100 vehicle fleet hits the road in Jerusalem in May 2018.

Earlier this month, Prof.

The contract is one of the largest so far signed by Mobileye and a signal on how automakers and suppliers are accelerating the introduction of features that automate certain tasks - such as road driving and emergency brakes. The cars drive completely autonomously and are driving every day, he said.

Mobileye, bought by Intel previous year for $15.3 billion, says there are some 27 million cars on the road from 25 automakers that use some sort of driver assistance system and Mobileye has a market share of more than 70 percent.

Among the companies now working with Mobileye to include its technology in their vehicles are General Motors, Honda, Audi and Fiat Chrysler.

While consumer-owned self-driving cars are a ways off, Mobileye CEO Amnon Shashua says "robo-taxis" could arrive on public streets by around 2021.