Mobileye forecasts downbeat annual revenue as China weakness persists

Shipments for the company's technology to China have been pressured by competition from domestic firms developing similar self-driving software at lower costs. In December, Mobileye said its major automotive customers were losing market share in the country as domestic manufacturers are now offering less-expensive battery vehicles in the region. Shipment volumes of Mobileye's chips in China are improving compared with 2024 but still remain sluggish, company executives said on a post-earnings call on Thursday.