Mobileye, the Israeli self-driving technology firm, announced on Monday that it will cease the development of its frequency modulated continuous wave (FMCW) lidar technology. This move is part of a broader effort to streamline operations amid uncertain market demand.
The closure of the lidar development unit, which will result in the loss of approximately 100 jobs, will not affect any existing customer product programs or overall product development, according to the company.
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