ALEDY Allied Group Limited (PK)

By Michael Dabaie

Volkswagen (VOW.XE), Intel Corp.'s (INTC) Mobileye and vehicle importer and distributor Champion Motors unveiled plans Monday to deploy a self-driving ride hailing service in Israel.

The companies are planning to establish a joint venture, subject to approval by authorities. Operating as "New Mobility in Israel," the group's proposal was formally accepted by the Israeli government, the companies said.

Volkswagen Group will provide the electric vehicles and knowledge about the design and deployment of mobility services. Intel's Mobileye will provide a hardware and software self-driving system validated for level-4, driverless capability, while Champion Motors will run the fleet operations and control center.

The Israeli government committed to support the project in furnishing legal and regulatory support, sharing required infrastructure and traffic data and providing access to infrastructure as needed.

Development will begin in early 2019 and roll out in phases reaching full commercialization in 2022, the companies said. New Mobility in Israel will roll out in phases and grow from several dozen to hundreds of self-driving electric vehicles.

The companies said New Mobility in Israel will serve as a global beta site for testing the mobility-as-a-service model using autonomous electric vehicles.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

October 29, 2018 14:49 ET (18:49 GMT)

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