Mobileye Global Inc (MBLY) 2023 Q2 法說會逐字稿

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  • Daniel V. Galves - Chief Communications Officer

    Daniel V. Galves - Chief Communications Officer

  • Hello, everyone, and welcome to Mobileye's Second Quarter 2023 Earnings Conference Call for the period ending July 1, 2023. Please note that today's discussion contains forward-looking statements based on the business environment as we currently see it. Such statements involve risks and uncertainties. Please refer to the accompanying press release, which includes additional information on the specific factors that could cause actual results to differ materially.

    大家好,歡迎參加 Mobileye 於 2023 年 7 月 1 日結束的 2023 年第二季度收益電話會議。請注意,今天的討論包含基於我們當前所看到的商業環境的前瞻性陳述。此類陳述涉及風險和不確定性。請參閱隨附的新聞稿,其中包含有關可能導致實際結果出現重大差異的具體因素的更多信息。

  • Additionally, on this call, we will refer to both GAAP and non-GAAP figures. A reconciliation of GAAP to non-GAAP financial measures is provided in our posted earnings release.

    此外,在這次電話會議上,我們將參考公認會計原則和非公認會計原則數據。我們發布的收益報告中提供了 GAAP 與非 GAAP 財務指標的調節表。

  • Joining us on the call today are Professor Amnon Shashua, Mobileye's CEO and President; and Moran Shemesh Rojansky, Mobileye's acting CFO.

    今天加入我們電話會議的還有 Mobileye 首席執行官兼總裁 Amnon Shashua 教授;以及 Mobileye 代理首席財務官 Moran Shemesh Rojansky。

  • Thanks, and now I'll turn the call over to Amnon.

    謝謝,現在我將把電話轉給 Amnon。

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • Hello, everyone, and thanks for joining our earnings call. On the revenue side, the quarter was in line to better than our expectation. Customers were very cautious in the first half of 2023, which led to below normal growth but we have seen the production schedule solidify for the second half of the year, where we expect to grow 16% year-over-year on much higher volumes than the first half.

    大家好,感謝您參加我們的財報電話會議。在收入方面,該季度的情況好於我們的預期。客戶在 2023 年上半年非常謹慎,導致增長低於正常水平,但我們看到下半年的生產計劃得到鞏固,我們預計同比增長 16%,產量遠高於去年同期上半場。

  • Profitability was better than expected with adjusted operating margin of 31%, up 4 points versus Q1. At the midpoint of our updated guidance, adjusted operating margin for 2023 is 29.5%, nearly 3 points higher than our original guidance back in January. The good news on the cost side is a combination of macro factors, negotiations with customers on engineering reimbursement and result of a continued refinement of our spending plans in order to heighten efficiency and optimize returns.

    盈利能力好於預期,調整後營業利潤率為 31%,較第一季度上升 4 個百分點。在我們更新的指引的中點,2023 年調整後的營業利潤率為 29.5%,比我們 1 月份的原始指引高出近 3 個百分點。成本方面的好消息是宏觀因素、與客戶就工程報銷進行的談判以及我們不斷完善支出計劃以提高效率和優化回報的結果的結合。

  • Importantly, despite the lower base of operating expenses in 2023, we still see OpEx growth rates in future years moderating to more normal levels compared to 2022 and the 30% growth we originally planned for 2023. This should support good operating leverage over time.

    重要的是,儘管2023 年運營支出基數較低,但與2022 年相比,我們仍認為未來幾年的運營支出增長率將放緩至更正常的水平,以及我們最初計劃2023 年增長30% 的水平。隨著時間的推移,這應該會支持良好的運營槓桿。

  • Turning to business development for our advanced product portfolio. We continue to move more and more OEMs towards the design win phase. We can now count 9 large established OEM prospects in what we consider advanced stages for products like SuperVision and Chauffeur. In most cases, we are not competing against anyone. The process is about physical testing to convince the OEM of the performance and the design domain of the system establishing what role the OEM will have in customizing the system and often negotiating the bundling of different products like SuperVision and Chauffeur across various brands, vehicle segments and launch date.

    轉向我們先進產品組合的業務發展。我們繼續推動越來越多的原始設備製造商進入設計獲勝階段。現在,我們可以統計出 9 個大型成熟的 OEM 前景,我們認為這些產品處於 SuperVision 和 Chauffeur 等產品的高級階段。在大多數情況下,我們不與任何人競爭。該過程涉及物理測試,以說服 OEM 相信系統的性能和設計領域,確定 OEM 在定制系統中的角色,並經常就 SuperVision 和 Chauffeur 等不同產品在不同品牌、車輛細分市場的捆綁進行談判。發射日期。

  • Beyond our history of execution and our ability to prove the capability in physical testing across long distances, multiple road types and conditions, what appeals to the OEM is that our product portfolio is scalable, cost-efficient, engineering and design efficient and above all displaying leading and cutting-edge performance.

    除了我們的執行歷史和證明長距離、多種道路類型和條件的物理測試能力的能力之外,對OEM 有吸引力的是,我們的產品組合具有可擴展性、成本效益、工程和設計效率,最重要的是顯示領先和尖端的性能。

  • In terms of scalability, the core technologies of computer vision and extremely efficient EyeQ processing platform, boosted by REM mapping forms the baseline for solutions that are relevant across all vehicle price points and a wide range of feature sets from eyes-on, hands-on, all the way to eyes-off, hands-off and driver-off.

    在可擴展性方面,計算機視覺的核心技術和極其高效的 EyeQ 處理平台,在 REM 映射的推動下,構成了與所有車輛價位相關的解決方案的基準,以及從視覺到實踐的廣泛功能集,一直到放開眼睛、放開雙手、放開駕駛員。

  • Our work with Volkswagen Group is a good example. Since 2018, all new vehicles across the group have used Mobileye provided data, and this relationship exists well into the 2030. Beginning in 2021, REM mapping functionality was added to the MEB platform, leading to a relatively low cost way to provide class-leading, lane centering capability among many other functions and providing an early opportunity for the OEM to generate recurring subscription revenue. The success of this product, which we call cloud-enhanced ADAS, led to a recent design win to cascade REM across most of the entire group over time.

    我們與大眾汽車集團的合作就是一個很好的例子。自2018 年以來,集團所有新車均使用Mobileye 提供的數據,這種關係一直持續到2030 年。從2021 年開始,REM 地圖功能被添加到MEB 平台,從而以相對較低的成本方式提供同級領先的服務、車道居中功能以及許多其他功能,並為 OEM 提供早期產生經常性訂閱收入的機會。該產品(我們稱之為雲增強型 ADAS)的成功導致了最近的一項設計勝利,隨著時間的推移,將 REM 級聯到整個團隊的大部分區域。

  • Next, we have the SuperVision design win with Porsche. Porsche shares common platforms with other premium brands of the Volkswagen Group. While not formalized yet, we expect the provision to be adopted by the other premium brands to increase economies of scale. In fact, Audi and Bentley executives are already on record expressing excitement to bring supervision to their product. An additional benefit of SuperVision to our OEM customers, is that it creates a bridge to our consumer level eyes-off solution called Chauffeur.

    接下來,我們與保時捷一起贏得了 SuperVision 設計。保時捷與大眾汽車集團的其他高端品牌共享共同平台。雖然尚未正式確定,但我們預計其他高端品牌將採用該規定,以提高規模經濟。事實上,奧迪和賓利的高管已經公開表達了對他們的產品進行監管的興奮。 SuperVision 給我們的 OEM 客戶帶來的另一個好處是,它為我們的消費者級“視線轉移”解決方案(稱為 Chauffeur)搭建了一座橋樑。

  • The surround computer vision REM and EyeQ based domain controller on supervision is also the baseline for Chauffeur. The difference in the systems is the addition of secondary perception system made up of LiDAR and RADAR, which results in significant increase in the meantime between failure, which is obviously key to enabling the eyes-off. In other words, full driver disengagement under a broad set of conditions and road type. This also forms the baseline for our Mobileye Drive Mobility as a Service solution.

    基於環繞計算機視覺 REM 和 EyeQ 的監督域控制器也是 Chauffeur 的基線。系統的不同之處在於增加了由激光雷達和雷達組成的二次感知系統,這導致故障間隔時間顯著增加,這顯然是實現視線轉移的關鍵。換句話說,在廣泛的條件和道路類型下,駕駛員完全脫離。這也構成了我們的 Mobileye Drive Mobility as a Service 解決方案的基準。

  • On this front, there has been recent news on our delivery of multiple self-driving systems, which have been integrated into Volkswagen's ID.Buzz for testing by Volkswagen Commercial Vehicles in both the U.S. and Europe. The fact that Volkswagen has recently demonstrated these vehicles with analysts and media after only several months of us working together is a testament to how evolved this technology already is.

    在這方面,最近有消息稱我們交付了多個自動駕駛系統,這些系統已集成到大眾汽車的 ID.Buzz 中,供大眾商用車在美國和歐洲進行測試。事實上,大眾汽車最近與分析師和媒體合作僅幾個月後就向分析師和媒體展示了這些車輛,這一事實證明了這項技術已經取得了多麼大的發展。

  • The ability to provide efficient and high probability products across all vehicle price points from both consumer-owned and Mobility as a Service solutions, all based on the same proven core technology, is a huge selling point to OEMs. As is the increased flexibility of our technology, we provide tools to OEMs to both tune the system and also develop and deploy their own software in order to differentiate and to enable true ownership of their systems. For example, with the Porsche supervision program, our software team is providing about 600 tunable parameters that Porsche engineers can adjust to create a unique customer experience.

    對於原始設備製造商來說,能夠從消費者擁有的解決方案和移動即服務解決方案中提供跨所有車輛價位的高效且高概率的產品,所有這些都基於相同的經過驗證的核心技術,這是一個巨大的賣點。隨著我們技術靈活性的提高,我們為 OEM 提供工具來調整系統,並開發和部署他們自己的軟件,以實現差異化並真正擁有他們的系統。例如,通過保時捷監督計劃,我們的軟件團隊提供了大約 600 個可調參數,保時捷工程師可以調整這些參數以創造獨特的客戶體驗。

  • As an enabler for tuning, we have designed a formal high-level tuning language, which we call Driving Policy Behavior Safety that allows one to describe the desired driving policy as if one writes code on top of our driving policy operating system. Then we have EyeQ kits on top of that, to offer them bespokes called software integration within the Mobileye's stack as well as the potential to deploy nonmobilized functions such as automated parking, on driving monitoring on the EyeQ, saving the cost of additional ECUs.

    作為調優的推動者,我們設計了一種正式的高級調優語言,我們將其稱為“駕駛策略行為安全”,它允許人們描述所需的駕駛策略,就像在我們的駕駛策略操作系統之上編寫代碼一樣。然後,我們在此基礎上提供 EyeQ 套件,為他們提供 Mobileye 堆棧內的定制軟件集成,以及部署非移動功能(例如自動停車、EyeQ 上的駕駛監控)的潛力,從而節省額外 ECU 的成本。

  • Final topic before turning it over to Moran, is the continued rollout of software to Zeekr vehicles on the road. As you all know, the full supervision capability is being delivered to Zeekr vehicles over time through over-the-air updates. Nothing is key to this. The complexities of mapping in China means that data collection must be done through Chinese partners. And as a result, data collection started much later in China than North America and Europe. The map coverage in China is behind those other regions, but it's quickly building.

    在交給 Moran 之前的最後一個主題是繼續向道路上的 Zeekr 車輛推出軟件。眾所周知,隨著時間的推移,Zeekr 車輛將通過無線更新獲得全面的監管能力。這一切都不是關鍵。中國測繪的複雜性意味著數據收集必須通過中國合作夥伴完成。因此,中國的數據收集工作比北美和歐洲晚得多。中國的地圖覆蓋範圍落後於其他地區,但正在迅速擴大。

  • All Zeekr vehicles have had a very sophisticated highway-assist system for many months now. But until recently, the full point-to-point Navigate on Pilot functionality was only available to a fairly small number of beta users. We are very pleased that Zeekr significantly broadened the number of users with highway Navigate on Pilot, and we expect the full rollout to all users within week. Initial feedback has been very good.

    所有 Zeekr 車輛都配備了非常先進的高速公路輔助系統已有好幾個月了。但直到最近,完整的點對點 Navigate on Pilot 功能僅適用於相當少數的測試版用戶。我們非常高興 Zeekr 顯著擴大了高速公路 Navigate on Pilot 的用戶數量,我們預計在一周內向所有用戶全面推出。最初的反饋非常好。

  • Zeekr system is performing much better than other MLP systems in terms of ability to complete maneuvers without takeover in many difficult situations like construction areas, highway merges in heavy traffic and performing lane changes within tight curves. Influencers and media have also heightened -- highlighted the strength of the system versus competitors, focusing on the assertive human-like performance of the car, several calling it the most efficient and capable Navigate on Pilot that ever experienced. Any negative feedback has been around some dead spots in the map, which will be rapidly built out over the following months.

    Zeekr 系統在許多困難情況下(例如建築區域、交通繁忙的高速公路並道以及在急彎內執行車道變換)無需接管即可完成機動操作的能力比其他 MLP 系統要好得多。影響者和媒體也加強了強調該系統相對於競爭對手的優勢,重點關注汽車自信的類人性能,一些人稱其為有史以來最高效、最強大的 Navigate on Pilot。任何負面反饋都圍繞著地圖上的一些死角,這些死角將在接下來的幾個月內迅速建立起來。

  • The eyes-on hands-free market is much more developed in China than other regions, and it's a significant proof point to other OEM customers that Zeekr's system is outperforming. This supports the feedback we have gotten from other OEMs that have performed benchmark tests of their own in a test environment but proof point from actual production vehicles driven by non-engineers is obviously much more powerful.

    中國的注視免提市場比其他地區更加發達,這向其他OEM客戶證明了Zeekr的系統表現出色。這支持了我們從其他原始設備製造商那裡得到的反饋,這些原始設備製造商已經在測試環境中進行了自己的基準測試,但非工程師駕駛的實際生產車輛的證據顯然更加有力。

  • I now turn it over to Moran to go over the technical -- go over the financial results and guidance in more detail.

    我現在將其交給莫蘭,以更詳細地審查技術方面的財務結果和指導。

  • Moran Shemesh Rojansky - Acting CFO

    Moran Shemesh Rojansky - Acting CFO

  • Thank you, Amnon, and thanks for joining the call, everyone. Before I begin, please be aware that all my comments on profitability will refer to non-GAAP measurements. The primary exclusion of Mobileye non-GAAP numbers is amortization of intangible assets which is mainly related to Intel's acquisition of Mobileye in 2017. We also exclude stock-based compensation.

    謝謝阿姆農,也感謝大家加入我們的電話會議。在開始之前,請注意,我對盈利能力的所有評論都將參考非 GAAP 衡量標準。 Mobileye 非 GAAP 數據的主要排除是無形資產攤銷,這主要與英特爾 2017 年收購 Mobileye 有關。我們還排除了基於股票的薪酬。

  • Starting with Q2. Overall revenue was down about 1% year-over-year with core EyeQ revenue also down 1% year-over-year as higher ASPs would not fully offset a modest volume decline. We do believe that destocking of inventory at our Tier 1 customer impacted the growth rate in both Q1 and more sharply in Q2.

    從 Q2 開始。整體收入同比下降約 1%,核心 EyeQ 收入也同比下降 1%,因為較高的 ASP 無法完全抵消銷量的小幅下降。我們確實相信,一級客戶的庫存去庫存對第一季度的增長率產生了影響,並且對第二季度的增長率影響更大。

  • Looking ahead to the second half, our guidance implies that we will be back to meaningfully outperforming industry production volumes. Supervision shipments were 10,000 units in the quarter. This was exactly as expected. As we noted on the April earnings call, Q1 shipments of 25,000 were significantly higher than end market volumes. The intent in Q2 was to fully reduce debt inventory build from Q1. The strong recovery in Zeekr end market volumes and our intentionally low shipments accomplished this goal. Gross margins were in line with our expectations.

    展望下半年,我們的指導意味著我們將恢復明顯優於行業的產量。本季度監管出貨量為 10,000 台。這完全符合預期。正如我們在 4 月份的財報電話會議上指出的那樣,第一季度的出貨量為 25,000 台,明顯高於終端市場銷量。第二季度的目的是全面減少第一季度的債務庫存積累。 Zeekr 終端市場銷量的強勁復甦和我們故意降低的出貨量實現了這一目標。毛利率符合我們的預期。

  • On a sequential basis, EyeQ margin was stable. The approximate 1 point increase in Q2 as compared to Q1 was simply due to SuperVision revenue being a smaller mix of overall revenue. Operating expenses were lower than we expected, and this led to strong adjusted operating margin of 31%, up about 4 points versus Q1. Following 3 areas accounting for the majority of the lower-than-expected costs in the quarter are; #1 on the payroll side, depreciation of the Israeli Scheckel led to payroll savings in U.S. dollar terms. The FX rate was approximately 4% favorable to what we had forecast for the quarter.

    從環比來看,EyeQ 利潤率保持穩定。與第一季度相比,第二季度大約增加了 1 個百分點,這僅僅是因為 SuperVision 收入佔總收入的比例較小。運營費用低於我們的預期,這導致調整後的運營利潤率達到 31%,比第一季度上升約 4 個百分點。以下 3 個領域佔本季度成本低於預期的大部分:在工資方面排名第一的是,以色列謝克爾貶值導致以美元計算的工資節省。外匯匯率比我們對本季度的預測有利約 4%。

  • Number two, the move into our new Jerusalem campus was delayed from May until the fall of 2023. The higher facility expenses from the new companies will now begin later in the year than we expected.

    第二,遷入耶路撒冷新園區的時間從 5 月推遲到 2023 年秋季。新公司的更高設施費用將比我們預期的在今年晚些時候開始。

  • Number three, we also experienced lower costs for our efforts around Mobility as a Service. We are constantly reviewing our activities to ensure that our product rollout is as efficient as possible. In the case of Mobility as a Service, we have the emphasized plan to certify an EyeQ5-based NIO fleet of vehicles for our customers in the near term.

    第三,我們圍繞“移動即服務”所做的努力也降低了成本。我們不斷審查我們的活動,以確保我們的產品推出盡可能高效。就“移動即服務”而言,我們的重點計劃是在短期內為我們的客戶認證基於 EyeQ5 的 NIO 車隊。

  • The costs simply weren't justified relative to the volumes that were possible on the NIO-based platform. The benefit of the NIO-based fleet, however, still exists in terms of continued testing and validation of the software.

    相對於基於 NIO 的平台上可能實現的數量而言,這些成本根本不合理。然而,基於蔚來車隊的優勢仍然存在於軟件的持續測試和驗證方面。

  • In terms of scaling production volumes from the Mobileye Drive self-driving system, our go-to-market strategy is focused on integration of the system into purpose-built vehicles from vehicle builders, including Schaeffler, Holon and Volkswagen Commercial Vehicles. We expect these vehicle platforms to begin serial production in 2025, which also coincides with volume production of EyeQ6-based compute platform and our software-defined imaging radar. It's important for scaling the Mobility as a Service business.

    在擴大 Mobileye Drive 自動駕駛系統的產量方面,我們的上市戰略側重於將該系統集成到舍弗勒、Holon 和大眾商用車等汽車製造商的專用車輛中。我們預計這些車輛平台將於 2025 年開始批量生產,這也與基於 EyeQ6 的計算平台和我們的軟件定義成像雷達的批量生產相一致。這對於擴展移動即服務業務非常重要。

  • In terms of cash flow, we continue to rebuild our strategic inventory of EyeQ chips which had been largely consumed over the course of 2021 and 2022 during the supply chain crisis. Our ability to satisfy demand during recent years, partially by consuming our inventory buffer was a big positive. Rebuilding of the inventory is a very important activity so that we will be prepared in case of any potential disruptions in the future.

    在現金流方面,我們繼續重建 EyeQ 芯片的戰略庫存,這些芯片在 2021 年和 2022 年供應鏈危機期間大量消耗。近年來,我們滿足需求的能力(部分通過消耗我們的庫存緩衝)是一個很大的積極因素。重建庫存是一項非常重要的活動,以便我們為未來可能出現的任何潛在中斷做好準備。

  • Capital expenditure in the quarter were consistent with our view that CapEx should be roughly similar this year versus 2022.

    本季度的資本支出與我們的觀點一致,即今年的資本支出應與 2022 年大致相似。

  • Turning to the guidance. Revenue is strictly in line with our prior guidance, which we are reaffirming today, both for the core EyeQ business and SuperVision. On EyeQ, schedules have become more solid over the last couple of months and customer requests to move volume around have largely seized. Customer orders support a steep ramp of expected volume in the second half, with Q3 up over 10% versus Q2 and Q4, up more than 20% versus Q3 levels.

    轉向指導。核心 EyeQ 業務和 SuperVision 的收入嚴格符合我們之前的指導,我們今天重申了這一指導。在 EyeQ 上,過去幾個月的時間表變得更加固定,並且客戶要求調整數量的要求已基本得到滿足。客戶訂單支撐了下半年預期銷量的大幅增長,第三季度較第二季度和第四季度增長超過 10%,較第三季度增長超過 20%。

  • On SuperVision, Zeekr end market volumes recovered strongly in Q2, which both reduced the inventory built in Q1 and solidified the volume trajectory for the second half. We continue to expect full year shipments consistent with our prior guidance. Q4 will be higher than Q3 given the new vehicle launches and the Zeekr 001 entry into Europe. Gross margin for individual product lines are stable. We expect SuperVision revenue mix to be higher in Q3 and Q4 versus Q2, which will drive some reduction in overall gross margin versus Q2 levels.

    在 SuperVision 方面,Zeekr 終端市場銷量在第二季度強勁復甦,這既減少了第一季度建立的庫存,又鞏固了下半年的銷量軌跡。我們繼續預計全年出貨量與我們之前的指導一致。鑑於新車的推出以及 Zeekr 001 進入歐洲,第四季度的銷量將高於第三季度。個別產品線的毛利率穩定。我們預計 SuperVision 第三季度和第四季度的收入組合將高於第二季度,這將導致整體毛利率較第二季度有所下降。

  • On the adjusted operating income side, the positive update to our guidance is related to lower-than-expected operating expenses. Year-over-year growth of OpEx is now expected to be around 22% to 23% versus our prior indication of 30% growth. Nearly half of the reduction already occurred in Q2. The rest of the reduction is primarily coming from the following 2 areas.

    在調整後的營業收入方面,我們對指導的積極更新與低於預期的營業費用有關。目前,運營支出預計同比增長 22% 至 23% 左右,而我們之前預計增長 30%。近一半的減少已經發生在第二季度。其餘的減少主要來自以下兩個領域。

  • Number one, to varying degree, the areas of lower cost in Q2, like payroll, facilities and Mobility as a Service are generating some savings in the second half of the year as well.

    第一,在不同程度上,第二季度成本較低的領域,如工資、設施和移動即服務,也在今年下半年產生了一些節省。

  • Number two, nonrecurring engineering reimbursements in the second half of the year are now expected to be higher than we had originally forecasted. In terms of tax rate, we continue to expect an effective tax rate in between the 12% and 13% range for the year.

    第二,下半年的非經常性工程報銷預計將高於我們最初的預測。稅率方面,我們繼續預計今年有效稅率在12%至13%之間。

  • Before we start the Q&A session, I'd like to thank Anat Heller for being an amazing mentor to me and for her continued support as an adviser to the finance team and management. I'd also like to thank our entire finance team for the professional and tireless work since we become a public company.

    在我們開始問答環節之前,我要感謝阿納特·海勒(Anat Heller),她是我的一位出色的導師,並感謝她作為財務團隊和管理層顧問的持續支持。我還要感謝我們整個財務團隊自我們成為上市公司以來所做的專業和不懈的工作。

  • Thank you, and we will now take your questions.

    謝謝您,我們現在將回答您的問題。

  • Daniel V. Galves - Chief Communications Officer

    Daniel V. Galves - Chief Communications Officer

  • Priscilla, we're ready to start the Q&A session.

    Priscilla,我們準備開始問答環節了。

  • Operator

    Operator

  • We will now be conducting question-and-answer session. (Operator Instructions)

    我們現在將進行問答環節。 (操作員說明)

  • Daniel V. Galves - Chief Communications Officer

    Daniel V. Galves - Chief Communications Officer

  • It's Dan. And just in the interest of time, please limit yourself to one question and one follow-up, please.

    是丹.為了節省時間,請只回答一個問題和一項後續行動。

  • Operator

    Operator

  • And our first question comes from Aaron Rakers with Wells Fargo.

    我們的第一個問題來自富國銀行的 Aaron Rakers。

  • Aaron Christopher Rakers - MD of IT Hardware & Networking Equipment and Senior Equity Analyst

    Aaron Christopher Rakers - MD of IT Hardware & Networking Equipment and Senior Equity Analyst

  • I do have one question and one quick follow-up. So I think in the prepared remarks, you had started with a comment that you now have 9 estimated OEMs engaged in terms of Chauffeur and SuperVision. I think last quarter, you talked about having 6 large OEMs kind of deployed looking out in the 2024 time frame. So I'm just curious, can you walk us through how -- is that a change, how things have changed in terms of your pipeline of design wins from SuperVision?

    我確實有一個問題和一個快速跟進。因此,我認為在準備好的發言中,您一開始就評論說,現在估計有 9 家 OEM 參與了 Chauffeur 和 SuperVision 領域。我認為上個季度,您談到了在 2024 年的時間範圍內部署 6 家大型 OEM。所以我很好奇,您能否向我們介紹一下,這是一種變化嗎?從 SuperVision 獲得設計勝利的流程來看,事情發生了怎樣的變化?

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • I'll take this question. We noted in the press release that our serious engagements on SuperVision and Chauffeur have expanded versus the beginning of the year in terms of the number of OEMs. I'm defining serious engagement where OEM engineers are fully aligned with Mobileye, that Mobileye is the right path forward in terms of technology, performance and cost where we already are in production, executing an official product program or in a funded physical concept phase.

    我來回答這個問題。我們在新聞稿中指出,就 OEM 數量而言,我們對 SuperVision 和 Chauffeur 的認真參與比年初有所擴大。我定義的是 OEM 工程師與 Mobileye 完全一致的認真參與,即在我們已經投入生產、執行官方產品計劃或處於資助的物理概念階段的技術、性能和成本方面,Mobileye 是正確的前進道路。

  • Currently, this list of OEMs represents about 30% of global volume. This is very encouraging because the vast majority of the rest of the industry remains very open to us. So for these OEM engagements, we are not competing with another company or technology. But there are other complexities in the decision-making process that have nothing to do with competitive landscape, things like go-to-market and consumer pricing strategies, how to best align the product into the portfolio launch plan, defining roles within the program, what to do with the internal development assets. So will Level 2+, what we call eyes-on, hands-off and the path to eyes-off as well, is a new potentially gigantic automotive term?

    目前,該 OEM 廠商數量約佔全球總量的 30%。這是非常令人鼓舞的,因為該行業的絕大多數其他公司仍然對我們非常開放。因此,對於這些 OEM 業務,我們不會與其他公司或技術競爭。但決策過程中還存在與競爭格局無關的其他復雜性,例如上市和消費者定價策略、如何最好地將產品與產品組合發布計劃結合起來、定義項目中的角色、如何處理內部開發資產。那麼,我們所說的“2+級”(我們所說的“注目”、“放手”以及通向“不注目”的途徑)會是一個潛在的巨大汽車新術語嗎?

  • With strategic implications and complexities that make the decision-making process more complex than a simple ADAS program. So working in our favor is increase in competitive pressure as Tesla and the China startups, including Zeekr, push the envelope on hands-free technology. We have noted an increase in seriousness within the OEMs over the past 1, 2 years and have seen some OEMs that appear to be far away from us on advanced technology, move rapidly to align behind our approach. This is all very positive for us as a technology and cost leader. We still see high likelihood of significant design wins announcements in the second half.

    其戰略意義和復雜性使得決策過程比簡單的 ADAS 程序更加複雜。因此,隨著特斯拉和包括 Zeekr 在內的中國初創公司不斷挑戰免提技術的極限,競爭壓力的增加對我們有利。我們注意到,在過去的一兩年裡,原始設備製造商內部的嚴肅性有所增加,並且看到一些在先進技術方面似乎與我們相距甚遠的原始設備製造商迅速採取行動,支持我們的方法。這對於我們作為技術和成本領導者來說都是非常積極的。我們仍然認為下半年宣布重大設計獲勝的可能性很大。

  • Aaron Christopher Rakers - MD of IT Hardware & Networking Equipment and Senior Equity Analyst

    Aaron Christopher Rakers - MD of IT Hardware & Networking Equipment and Senior Equity Analyst

  • That's very helpful and very interesting. And then I guess on the other front, I'm just curious, as we think about Zeekr 001, 009, you've got Polestar 4, I guess it sounds like the inventory dynamic and the issues that Zeekr kind of normalize themselves out. So as we look forward, I guess, I'm trying to understand what are you embedding as far as the Zeekr volumes for the full year, reiterating the full year guide? Or what I'm trying to get is just how do we think about the potential upside if these volumes continue to improve. Just updated views on just Zeekr and what you've seen as the setup into the back half of the year?

    這非常有幫助而且非常有趣。然後我想在另一方面,我只是好奇,當我們想到 Zeekr 001、009 時,你已經有了 Polestar 4,我想這聽起來像是庫存動態以及 Zeekr 自行標準化的問題。因此,當我們展望未來時,我想,我想了解您在 Zeekr 全年卷中嵌入了什麼內容,重申了全年指南?或者我想知道的是,如果這些交易量繼續改善,我們如何看待潛在的上行空間。剛剛更新了對 Zeekr 的看法以及您對下半年的安排有何看法?

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • I think 2023 is very solid in terms of our corrected guidance that we did the last quarter. Regarding 2024, look, we provided a long-term outlook for SuperVision volumes at CES early January. And we'll make annual updates, but we're not going to update this on an ad hoc basis. In order to provide some more color, everything is on track with new SuperVision customers, that we talked about in January. We closed the Porsche design win and the expansion of the SuperVision platform to other Volkswagen Group brand, and that's proceeding as planned.

    我認為,就我們上個季度的修正指引而言,2023 年是非常可靠的。關於 2024 年,我們在一月初的 CES 上提供了 SuperVision 銷量的長期展望。我們將進行年度更新,但我們不會臨時更新。為了提供更多的色彩,我們在一月份談到的新 SuperVision 客戶的一切都步入正軌。我們完成了保時捷設計的勝利,並將 SuperVision 平台擴展到大眾汽車集團的其他品牌,目前正在按計劃進行。

  • The pipeline of OEMs in advanced discussions with SuperVision, it has grown versus where it was in January. And in terms of 2024, the number of vehicle models with SuperVision systems, that has not changed. We expect to have 5 vehicles in production by Q1 of 2024 compared to 1 at the beginning of this year. Two of those vehicles are sold outside of China.

    OEM 廠商正在與 SuperVision 進行深入討論,與 1 月份相比有所增長。到 2024 年,配備 SuperVision 系統的車型數量沒有變化。我們預計到 2024 年第一季度將有 5 輛汽車投入生產,而今年年初只有 1 輛。其中兩輛汽車在中國境外銷售。

  • The one thing that has changed is that our 300,000 unit outlook for next year assumes that Zeekr 001 would sustain its Q4 2022 demand space in China. That was the best data point available in January. The pace in Q2 of this year for that specific vehicle was about 60,000 units lower than the Q4 2022 pace on an annualized basis. So that's consistent with what we assumed in our guidance update last quarter, but that gap is a risk to the 2024 forecast we provided in January.

    發生變化的一件事是,我們對明年 30 萬輛的展望假設 Zeekr 001 將維持其 2022 年第四季度在中國的需求空間。這是一月份可用的最佳數據點。按年化計算,該特定車輛今年第二季度的銷量比 2022 年第四季度的銷量低約 60,000 輛。因此,這與我們在上季度指導更新中的假設一致,但這一差距對我們 1 月份提供的 2024 年預測構成風險。

  • I'd point out that there has already been a significant adjustment and expectations for about half of our covering analysts who are projecting volume in 220,000 range for 2024.

    我想指出的是,我們大約一半的分析師已經進行了重大調整和預期,他們預計 2024 年銷量將在 220,000 左右。

  • Operator

    Operator

  • Our next question comes from Chris McNally with Evercore.

    我們的下一個問題來自 Evercore 的 Chris McNally。

  • Christopher Patrick McNally - Senior MD

    Christopher Patrick McNally - Senior MD

  • Two road map questions, if I may. So first on the SuperVision rollout, and Amnon, I appreciate the '24 update, I think that's been clear. My question is really around maybe as we think about '25 and it's more not asking about a target, but more, are you starting to get the visibility on some of these larger, more consequential programs on whether they could launch in '25 or '26 or is it just too early at this point, the OEMs themselves are still trying to determine launch timing mode. When is that sort of typical go -- no-go where you would sort of have an idea whether '25 programs would be significant?

    如果可以的話,有兩個路線圖問題。首先,關於 SuperVision 的推出,Amnon,我很欣賞 24 日的更新,我認為這一點已經很明確了。我的問題實際上是在我們考慮“25 年”時,更多地不是詢問目標,而是更重要的是,您是否開始了解其中一些更大、更重要的項目是否可以在“25 年”或“25 年”啟動26 號還是現在還為時過早,原始設備製造商本身仍在嘗試確定發佈時間模式。什麼時候是那種典型的“走-不走”,你會知道“25”計劃是否重要?

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • We are probably more confident in the 2026 forecast than 2024. The business will be much more diverse in 2026 with Porsche and likely several other automakers being added as well as significant volume outside China with Zeekr and other Geely-related brands like Polestar. This will reduce the reliance on just a few vehicles and one region like we have now and would lead to less fluctuation in volumes.

    我們對2026 年的預測可能比2024 年更有信心。到2026 年,業務將更加多元化,保時捷和其他幾家汽車製造商的加入,以及Zeekr 和Polestar 等其他吉利相關品牌在中國以外的銷量也將大幅增加。這將減少對像我們現在這樣的少數車輛和一個地區的依賴,並減少數量的波動。

  • Now, on the high probability potential wins that we included in our 2026 forecast, still look very good in terms of booking design wins and launching over the course of 2025 and early 2026. But we feel very confident in the overall trajectory of the SuperVision business line in terms of big inflection point in volumes around the 2026 time frame. We also see the potential for SuperVision platform to spread to more models within OEM customers as automakers get more bullish on the potential of profit-making opportunities. Now, this could positively impact our midterm projections. So I think we're very confident on 2026. Things look brighter than they looked back in January.

    現在,就我們在 2026 年預測中包含的高概率潛在勝利而言,就預訂設計勝利以及 2025 年和 2026 年初的推出而言,看起來仍然非常好。但我們對 SuperVision 業務的整體軌跡非常有信心2026 年左右的交易量將出現大拐點。我們還看到,隨著汽車製造商更加看好盈利機會的潛力,SuperVision 平台有可能擴展到 OEM 客戶中的更多車型。現在,這可能會對我們的中期預測產生積極影響。所以我認為我們對 2026 年非常有信心。事情看起來比 1 月份看起來更加光明。

  • Christopher Patrick McNally - Senior MD

    Christopher Patrick McNally - Senior MD

  • And then a quick follow-up, always sort of a delicate one. But regarding the more aggressive talk of full self-driving licensing over the last 6 months and maybe just even very generally, you could talk about the recent tone of your customer conversations with respect to full self-driving specifically, either good or bad. I mean, it could honestly make some OEMs move faster to compete with their offering or maybe some OEM discussions could slow down if they just want to take a free look and engage Tesla. So any -- it's just such a relevant topic, anything that you can add on that tone, if it's had any effect on the conversations that you're having directly.

    然後是快速跟進,總是有點微妙。但是,考慮到過去 6 個月里關於全自動駕駛許可的更積極的討論,甚至可能只是非常籠統的討論,您可以具體談談客戶最近關於全自動駕駛的對話基調,無論好壞。我的意思是,老實說,這可能會讓一些原始設備製造商更快地與他們的產品競爭,或者如果他們只是想免費看看並與特斯拉合作,一些原始設備製造商的討論可能會放慢。所以,任何——這都是一個相關的話題,你可以在這種語氣上添加任何內容,如果它對你直接進行的對話有任何影響的話。

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • I think that Tesla has mentioned several times in the past about licensing their FSD. So it's not really a new concept. It's not new to have competitive noise in the market. No. And I would say that we have a lot of respect to what Tesla has accomplished with FSD. In fact, we see the rapid development as a significant positive for us as that pushes the market to move faster to implement advanced solutions like supervision.

    我認為特斯拉過去曾多次提到過授權其 FSD。所以這並不是一個新概念。市場上出現競爭噪音並不新鮮。不。我想說的是,我們非常尊重特斯拉通過 FSD 取得的成就。事實上,我們認為快速發展對我們來說是一個重大的積極因素,因為它推動市場更快地實施監管等先進解決方案。

  • Now, specific question of Tesla working with OEMs, I think there's one argument that really clarifies the matter. I would put it as performance versus cost of the system. If you look at SuperVision, it's an FSD light category, 11 cameras and the radar, a few radars. SuperVision has also REM, the high-definition mapping in addition to what FSD can offer. Today, we have 120,000 SuperVision enabled vehicles in China, more than 1,000 beta testers and the response in terms of comparative analysis is very, very good. It's on par or superior to FSD that's measured by the rate of intervention and ability to handle complex maneuvers. REM is a stronger differentiation.

    現在,關於特斯拉與原始設備製造商合作的具體問題,我認為有一個論點真正澄清了這一問題。我將其視為系統的性能與成本。如果你看一下 SuperVision,它是一個 FSD 燈光類別,有 11 個攝像頭和雷達,一些雷達。除了 FSD 提供的功能外,SuperVision 還具有 REM,即高清繪圖功能。如今,我們在中國擁有 120,000 輛啟用 SuperVision 的車輛,1,000 多名 Beta 測試人員,並且在比較分析方面的反應非常非常好。從乾預率和處理複雜操作的能力來衡量,它與 FSD 相當或優於 FSD。 REM 是一個更強的差異化。

  • But now let's look at the cost. The price of a SuperVision subsystem, including the cameras and radars, the ECU, software, REM, is approximately somewhere in the $2,500 range. Now if Tesla matches that system price, then OEMs will be able to offer SuperVision or FSD at less than half the price that FSD is offered to Tesla car owners. Now this would immediately cannibalize Tesla whose strategy appears to be to reduce gross margins on the vehicle and rely almost solidly on the value of the FSD for creating growth.

    但現在讓我們看看成本。 SuperVision 子系統(包括攝像頭和雷達、ECU、軟件、REM)的價格大約在 2,500 美元左右。現在,如果特斯拉匹配該系統價格,那麼原始設備製造商將能夠以不到向特斯拉車主提供 FSD 價格一半的價格提供 SuperVision 或 FSD。現在,這將立即蠶食特斯拉,該公司的戰略似乎是降低汽車的毛利率,並幾乎完全依賴 FSD 的價值來創造增長。

  • Now I would also mention, and this bodes well with our OEM customers. Now there are 400,000 FSDs on the road since 2019, and Mobileye has already 120,000 and in approximately 2 years will surpass the 1 million bar and from there, we'll grow much faster. There are also important differences with respect to access of data, something that Tesla very often highlights as an advantage. And that's another key advantage that OEMs recognize.

    現在我還要提一下,這對我們的 OEM 客戶來說是個好兆頭。自 2019 年以來,目前已有 400,000 輛 FSD 上路行駛,Mobileye 已經有 120,000 輛,大約 2 年後將超過 100 萬輛,從那時起,我們的增長速度將會更快。在數據訪問方面也存在重要差異,特斯拉經常強調這一點作為優勢。這是原始設備製造商認識到的另一個關鍵優勢。

  • So for example, at their March Investor Day, Tesla noted they had a video cache of 30 petabytes and we're intending to grow to 200 petabytes. Our video database is 400 petabytes, not to mention all the data that we collect for REM, the high-definition mapping. We collected almost 9 billion miles of this type of data in 2022 alone. Tesla talks about 300 million miles of driven to date.

    例如,在 3 月份的投資者日,特斯拉指出他們擁有 30 PB 的視頻緩存,我們打算增加到 200 PB。我們的視頻數據庫有 400 PB,更不用說我們為 REM(高清地圖)收集的所有數據了。僅 2022 年,我們就收集了近 90 億英里的此類數據。特斯拉表示,迄今為止已行駛了 3 億英里。

  • So I think overall, when you look at what Tesla has accomplished, it's a very, very big positive for us. We believe that SuperVision is a much more optimal solution for our customers both in terms of cost and performance and customization basis. And all of Tesla's accomplishments actually creates a very positive momentum to have other OEMs wanting to have this type of -- this category of solution in their own cars.

    所以我認為總的來說,當你看看特斯拉所取得的成就時,這對我們來說是一個非常非常大的積極因素。我們相信,無論是在成本、性能還是定制基礎上,SuperVision 對於我們的客戶來說都是一個更加優化的解決方案。特斯拉的所有成就實際上創造了非常積極的勢頭,讓其他原始設備製造商希望在自己的汽車中擁有此類解決方案。

  • Operator

    Operator

  • Our next question comes from Joshua Buchalter with TD Cowen.

    我們的下一個問題來自 TD Cowen 的 Joshua Buchalter。

  • Joshua Louis Buchalter - VP

    Joshua Louis Buchalter - VP

  • I appreciate the color that you gave on the -- how you're thinking about SuperVision in 2024, in particular on the lowered 001 production numbers. I was curious compared to the original expectations, how you're thinking about, I guess, the other 4 that should be meaningfully in the '24 numbers. Has there been any more, I guess, incremental handicapping to how you're thinking about those vehicles given those are new vehicles that haven't really launched yet with the new technology? Or are your expectations for those similar to what they were 6 to 9 months ago?

    我很欣賞你對 2024 年 SuperVision 的看法,特別是 001 生產數量的降低。與最初的期望相比,我很好奇,我猜你是如何考慮 24 個數字中應該有意義的其他 4 個數字的。我想,考慮到這些車輛是尚未真正採用新技術推出的新車,您對這些車輛的看法是否還有更多障礙?或者您對這些的期望與 6 至 9 個月前相似嗎?

  • Daniel V. Galves - Chief Communications Officer

    Daniel V. Galves - Chief Communications Officer

  • It's Dan. I'll take this one. So we feel good about the other models, right? The Zeekr 009, for example, is performing exactly to the expectations that Zeekr provided to us and that we baked into the forecast. There's another vehicle launching right now and then Polestar4 looks to be on track to launch. So yes, we're feeling good about the expectations and in 2023 as well, like relative to the revisions that we made last quarter, the Zeekr 001, Zeekr 009 are performing exactly as we expected. And with some minimal volumes from the additional launches in the back half, we should be able to comfortably get into our guidance for that product.

    是丹.我要這個。所以我們對其他模型感覺良好,對嗎?例如,Zeekr 009 的表現完全符合 Zeekr 向我們提供的預期以及我們納入預測的預期。目前還有另一款車型正在推出,Polestar4 看起來也將如期推出。所以,是的,我們對預期感到滿意,並且在 2023 年,與我們上季度所做的修訂一樣,Zeekr 001、Zeekr 009 的表現完全符合我們的預期。通過後半部分額外發布的一些最小銷量,我們應該能夠輕鬆地進入該產品的指導。

  • So we feel good about kind of how the performance is going in 2023. And everything looks solid for 2024, except for that gap that we identified versus where we originally expected back in January.

    因此,我們對 2023 年的表現感到滿意。2024 年的一切看起來都很穩健,除了我們在 1 月份發現的與最初預期的差距之外。

  • Joshua Louis Buchalter - VP

    Joshua Louis Buchalter - VP

  • And then congrats on the VW win for the more fully autonomous vehicle. I was hoping you could help us understand any guardrails you can give on timing and scope of this project? When should we expect this to contribute to initial EV revenues? Is this planned for -- the press release had read like commercial vehicles, but is this planned and you see a road map for the Chauffeur type technology moving into more consumer types of vehicles?

    然後祝賀大眾贏得了更全自動的汽車。我希望您能幫助我們了解您可以就該項目的時間安排和範圍提供的任何保護措施嗎?我們什麼時候應該預計這會對初始電動汽車收入做出貢獻?這是計劃中的嗎?新聞稿讀起來就像商用車,但是這是計劃中的嗎?您看到了 Chauffeur 類型技術進入更多消費類型車輛的路線圖嗎?

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • The only reason that we mentioned the ID.Buzz is because Volkswagen and their own TR as they mentioned, the Austin -- vehicles they shipped to Austin with our technology, for test and also in Germany. It's still ongoing all the formalities of actual design wins for this, but there are already more than 30 vehicles already in testing phase at VW and hopefully, this would mature into an official design win hopefully this year.

    我們提到 ID.Buzz 的唯一原因是因為大眾汽車和他們自己的 TR,正如他們提到的,奧斯汀——他們用我們的技術將車輛運到奧斯汀進行測試,同時也在德國進行測試。實際設計獲勝的所有手續仍在進行中,但大眾汽車已經有 30 多輛汽車處於測試階段,希望今年能夠成熟為正式設計獲勝。

  • Operator

    Operator

  • Our next question comes from Mark Delaney with Goldman Sachs.

    我們的下一個問題來自高盛的馬克·德萊尼。

  • Mark Trevor Delaney - Equity Analyst

    Mark Trevor Delaney - Equity Analyst

  • So maybe you could provide more details on your latest outlook on the EV opportunity with Mobileye Drive. I think you mentioned in the prepared remarks, now putting less emphasis on updating NIO vehicles and it making more sense to ramp on purpose-built vehicles in the 2025 time frame. Could you share a bit more on what changed that led you to have that view and your confidence on purpose-built platforms being ready in 2025?

    因此,也許您可​​以提供更多關於您對 Mobileye Drive 電動汽車機會的最新展望的詳細信息。我想你在準備好的發言中提到,現在不太重視更新蔚來汽車,而在 2025 年的時間範圍內增加專用汽車更有意義。您能否更多地分享一下是什麼讓您產生了這樣的觀點,以及您對 2025 年準備就緒的專用平台的信心?

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • Sorry, Mark, you broke up a little bit. Can you just repeat the question?

    抱歉,馬克,你們分手了一點。你能重複一下這個問題嗎?

  • Daniel V. Galves - Chief Communications Officer

    Daniel V. Galves - Chief Communications Officer

  • Mark, sorry. Can you repeat the question? You broke up a little bit.

    馬克,對不起。你能重複一下這個問題嗎?你們分手了一點點。

  • Mark Trevor Delaney - Equity Analyst

    Mark Trevor Delaney - Equity Analyst

  • Yes, of course, yes. Sorry about that. So hopefully, you can hear me a little bit better now. I was hoping for some updated and added details on your EV plan with Mobileye drive. I believe if I heard correctly, you're now putting less emphasis on upfitting NIO vehicles. And you mentioned making more sense to ramp AVs and purpose-built vehicles in the 2025 time frame. So I was hoping for a bit more color on what's changed and led you to have that new strategy and what your confidence is in having those purpose-built vehicles already in the 2025 time frame?

    是的,當然,是的。對於那個很抱歉。希望您現在能更好地聽到我的聲音。我希望獲得有關您使用 Mobileye 驅動器的電動汽車計劃的一些更新和添加的詳細信息。我相信,如果我沒聽錯的話,你們現在不太重視蔚來汽車的改裝了。您提到在 2025 年的時間範圍內增加自動駕駛汽車和專用車輛更有意義。因此,我希望能對發生的變化以及引導您制定新戰略的內容有更多的了解,以及您對在 2025 年時間範圍內擁有這些專用車輛的信心有多大?

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • I'll take that. So back at the CES, we mentioned that we are working with the platform builders. We mentioned Schaeffler. We mentioned Benteler -- with their daughter company, Benteler -- with their daughter company, Holon, and we mentioned also a third company who by now, they made their own press releases, which is Volkswagen Commercial Vehicles on the ID.Buzz.

    我會接受的。回到 CES,我們提到我們正在與平台構建者合作。我們提到了舍弗勒。我們提到了本特勒及其子公司 Benteler 及其子公司 Holon,我們還提到了第三家公司,他們現在已經製作了自己的新聞稿,即 ID.Buzz 上的大眾商用車公司。

  • We are working also with another personal carmaker called P3. I think we announced that a while ago with the Mobileye Drive 64. So the focus is on collaborating with or partnering with platform builders rather than having our own vehicle and homologating our own vehicles and then performing the entire chain of owning vehicles, operating vehicles, customer-facing applications. We do that through partnerships.

    我們還與另一家名為 P3 的個人汽車製造商合作。我認為我們不久前通過 Mobileye Drive 64 宣布了這一點。因此,重點是與平台構建商合作或合作,而不是擁有自己的車輛並認證我們自己的車輛,然後執行擁有車輛、運營車輛的整個鏈條,面向客戶的應用程序。我們通過合作夥伴關係來做到這一點。

  • So that is the new focus that we announced back at the CES and then everything is on track, including what you saw in the press a few weeks ago by Volkswagen on actual testing of ID.Buzz is equipped with our technology.

    這就是我們在 CES 上宣布的新焦點,然後一切都步入正軌,包括您在幾週前在媒體上看到的大眾汽車對 ID.Buzz 的實際測試配備了我們的技術。

  • Mark Trevor Delaney - Equity Analyst

    Mark Trevor Delaney - Equity Analyst

  • And I was hoping you could also share a little bit more of an update on the progress you're making in developing your own RADAR and Lidar sensors as I believe they could be helpful in supporting your opportunity with both the Chauffeur offering as well as Mobileye Drive.

    我希望您也能分享更多關於您在開發自己的雷達和激光雷達傳感器方面取得的進展的最新信息,因為我相信它們可以幫助您通過 Chauffeur 產品和 Mobileye 獲得機會駕駛。

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • So the imaging radars, we are on track for end of 2024 SOP. We have already been interacting and engaging with a Tier 1 partner to work together on offering the radar to the market and it's on track for end of 2024. The FMCW where LiDAR is on track for second-generation LiDARs around 2027, 2028 time frame, where we feel that first-generation autonomous vehicles would be served with final flight LiDARs and second generation with FMCW.

    因此,成像雷達方面,我們有望在 2024 年底 SOP 實現。我們已經與一級合作夥伴進行了互動和接觸,共同致力於向市場提供雷達,預計將於 2024 年底推出。FMCW(其中 LiDAR)有望在 2027 年、2028 年左右推出第二代 LiDAR,我們認為第一代自動駕駛汽車將配備最終飛行激光雷達,第二代自動駕駛汽車將配備FMCW。

  • Operator

    Operator

  • Our next question comes from Shreyas Patil with Wolfe Research.

    我們的下一個問題來自 Wolfe Research 的 Shreyas Patil。

  • Shreyas Patil - Research Analyst

    Shreyas Patil - Research Analyst

  • Maybe just first, just thinking about the -- how to think about the revenue or potential margin upside that you could see from Zeekr as they're now unlocking some of these more advanced features. And is that something that we would be seeing more into 2024 potentially? Or could we see some of that even in the back half of this year?

    也許首先,只是想一想——如何考慮您可以從 Zeekr 看到的收入或潛在利潤上升空間,因為他們現在正在解鎖其中一些更高級的功能。這是否是我們在 2024 年可能會看到的更多情況?或者我們能在今年下半年看到其中的一些嗎?

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • I think that potential, we'll see in 2024 because the NOP features powered by REM is -- for the first 6 months is going to be offered for free to all the Zeekr customers, and then we'll start seeing revenue based on a certain traction, we will see revenue. And so that should kick in 2024. So we're talking about hundreds of dollars per vehicle potential in 2024.

    我認為我們將在 2024 年看到這種潛力,因為由 REM 支持的 NOP 功能將在前 6 個月免費提供給所有 Zeekr 客戶,然後我們將開始看到基於有一定的牽引力,我們就會看到收入。因此,這應該會在 2024 年開始。所以我們正在談論 2024 年每輛車的潛力為數百美元。

  • Shreyas Patil - Research Analyst

    Shreyas Patil - Research Analyst

  • Okay, understood. And then I'm not sure if this is relevant, so feel free to discuss -- dismiss it if I'm off base on this. But -- does the current political situation in Israel have any implications for you from a business perspective?

    好的,明白了。然後我不確定這是否相關,所以請隨意討論——如果我對此不以為然,請忽略它。但是——從商業角度來看,以色列當前的政治局勢對您有什麼影響嗎?

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • Well, it's creating distress. It's creating a personal distress, and I think also most of Mobileye's, not all of Mobileye employees are kind of experiencing this kind of distress. But when you look at the Mobileye employees, they're are all professionals. We haven't seen any effect on efficiency and productivity in the past few months. We're not manufacturing anything in Israel. Israel is not a source of revenue for Mobileye. So we don't see any material impact of the political upheaval that is going on in Israel.

    嗯,它正在製造痛苦。這給個人帶來了困擾,我認為大多數 Mobileye 員工(並非所有 Mobileye)都在經歷這種困擾。但當你看看 Mobileye 的員工時,你會發現他們都是專業人士。在過去的幾個月裡,我們沒有看到效率和生產力受到任何影響。我們不在以色列生產任何東西。以色列不是 Mobileye 的收入來源。因此,我們認為以色列正在發生的政治動盪不會產生任何實質性影響。

  • Shreyas Patil - Research Analyst

    Shreyas Patil - Research Analyst

  • And just maybe just a quick modeling one. Just how do you think about the benefit of the engineering reimbursements that you mentioned in the second half? And what's driving that increase? Is it from the Drive business? Or is it also from SuperVision or the base ADAS?

    也許只是一個快速建模。請問您如何看待下半年提到的工程報銷的好處?是什麼推動了這一增長?是來自 Drive 業務嗎?或者它也來自 SuperVision 或基礎 ADAS?

  • Moran Shemesh Rojansky - Acting CFO

    Moran Shemesh Rojansky - Acting CFO

  • Yes, so it's basically coming from base ADAS. So we have -- in our programs, we have NRE reimbursement for most of our programs. And sometimes we don't think we cannot expect at the beginning of the year. So we might get additional benefits on these reimbursements, but it mainly relates to ADAS, ADAS reimbursement for this year for 2023.

    是的,所以它基本上來自基礎 ADAS。因此,在我們的計劃中,我們的大部分計劃都有 NRE 報銷。有時我們認為年初時我們不能期待。所以我們可能會在這些報銷上得到額外的好處,但主要是和 ADAS 相關,今年 2023 年的 ADAS 報銷。

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • And I think that there was one smaller item related to Mobileye Drive that we're expecting now as well.

    我認為我們現在也期待著一項與 Mobileye Drive 相關的較小項目。

  • Operator

    Operator

  • Our next question comes from George Gianarikas with Canaccord Genuity.

    我們的下一個問題來自 Canaccord Genuity 的 George Gianarikas。

  • George Gianarikas - Analyst

    George Gianarikas - Analyst

  • So you characterized a couple of times in the script about not seeing competition in many of the discussions you're having with OEMs. So I am wondering if you could just kind of take a step back and help us understand your view of the competitive landscape, not relative to Tesla FSD, but more to some of the other internal OEM efforts and some of the point solutions in the marketplace and how you see the market evolving over the next 12, 24, 36 months?

    因此,您在腳本中多次提到在與 OEM 進行的許多討論中沒有看到競爭。因此,我想知道您是否可以退後一步,幫助我們了解您對競爭格局的看法,不是相對於 Tesla FSD,而是更多地相對於其他一些內部 OEM 工作和市場上的一些單點解決方案您如何看待未來12、24、36 個月的市場發展?

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • Talking about the competitive landscape of the category of the SuperVision and going upwards to eyes-off, the competition comes from -- the majority of the competition comes from in-house development of the OEMs. And we have seen in the past kind of year or so, some form of awakening of OEMs that went through this process of building an in-house solution for a SuperVision like type of product or even trying to do an eyes-off product.

    說到SuperVision這個類別的競爭格局,往上看,競爭來自於——大部分競爭來自於主機廠的內部開發。在過去一年左右的時間裡,我們看到 OEM 廠商以某種形式覺醒,他們經歷了為 SuperVision 之類的產品構建內部解決方案的過程,甚至嘗試做一種不加關注的產品。

  • They tend to be somewhere between 4x to 6x more expensive than our solution and performance-wise, we don't see advantage. And they also come to the conclusion that it will -- it may satisfy a very, very slim piece of their business in terms of very high-end models and keep a big gap in terms of the medium segment vehicles, and this brings OEMs back to us to talk about the SuperVision.

    它們往往比我們的解決方案貴 4 倍到 6 倍,而且在性能方面,我們看不到任何優勢。他們還得出的結論是,這可能會滿足他們在高端車型方面非常非常小的業務,並在中型汽車方面保持很大的差距,這會讓原始設備製造商回來給我們談談SuperVision。

  • We have a large number of serious engagements with OEMs that in the past were very bullish on talking only about in-house development. And we are now around the table talking with them about the SuperVision products and beyond the SuperVision. So that's the majority of the competitive landscape. It's not the likes of NVIDIA and Qualcomm. They are offering the tools for in-house development of OEMs. So the competitors are the OEMs themselves. And as I said before, we see a certain wave of awakening from that attempt.

    我們與原始設備製造商進行了大量認真的合作,這些原始設備製造商過去非常看好只談論內部開發。現在我們圍坐在桌子旁與他們討論 SuperVision 產品以及 SuperVision 之外的產品。這就是大部分競爭格局。它不是像 NVIDIA 和 Qualcomm 這樣的公司。他們為 OEM 的內部開發提供工具。所以競爭對手就是原始設備製造商本身。正如我之前所說,我們從這一嚐試中看到了一定的覺醒浪潮。

  • Daniel V. Galves - Chief Communications Officer

    Daniel V. Galves - Chief Communications Officer

  • And George, just to follow up with one point. What we said specifically was that OEMs that represent about 30% of global volume. We're in these serious engagements where essentially, these OEMs have aligned behind our approach and are telling us there's not -- that we have no competition there. The rest of the industry is still in the -- so I don't want to make the comment that we don't have any competition. Like Amnon said it's mostly coming from internal efforts. But with these 30%, that was what the comment was really reflecting.

    喬治,只是跟進一分。我們具體說的是佔全球銷量約 30% 的 OEM 廠商。我們正在進行這些認真的合作,從本質上講,這些原始設備製造商都支持我們的方法,並告訴我們沒有——我們在那裡沒有競爭對手。該行業的其餘部分仍然處於 - 所以我不想發表評論說我們沒有任何競爭。正如阿姆農所說,這主要來自內部努力。但對於這 30%,這才是評論真正反映的內容。

  • George Gianarikas - Analyst

    George Gianarikas - Analyst

  • And just as a follow-up, you talked about this awakening. Is there one particular element of what you bring to the table that's causing that? Is it the REM mapping, RSS? Is there anything that you can point to that's more important than the other component pieces?

    作為後續行動,你談到了這種覺醒。您提出的問題中是否存在某個特定因素導致了這種情況?是 REM 映射、RSS 嗎?您可以指出有什麼比其他組成部分更重要嗎?

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • I'll point you to kind of the competitive landscape in China, for example. You have XPeng, you have Lee Auto, you have the NIO, they have products on the road. And we look at their products, they have many more sensors than a SuperVision. All of them have the front-facing LiDARs. Some of them have multiple front-facing LiDARs. They have much more compute, sometimes somewhere between 10x to 20x more compute than we have -- very, very expensive products.

    例如,我將向您介紹中國的競爭格局。你有小鵬汽車,你有利奧汽車,你有蔚來汽車,他們都有產品在路上。我們看看他們的產品,他們擁有比 SuperVision 更多的傳感器。它們都配備了前置激光雷達。其中一些擁有多個前置激光雷達。他們擁有更多的計算能力,有時比我們多 10 倍到 20 倍——非常非常昂貴的產品。

  • And when we start doing benchmarking, we are superior in terms of performance in almost every aspect and this gets exposed to other OEMs. Once we started putting vehicles on the road with our technology, where people can test, OEMs can test, now also the public can start testing. The difference is becoming visible and it's all about cost versus performance, right? Even if they have the same performance as the SuperVision, but they cost 4x more than it's not competitive. So I think this is becoming visible now that things are really in production.

    當我們開始進行基準測試時,我們幾乎在每個方面都表現出色,這會暴露給其他原始設備製造商。一旦我們開始使用我們的技術將車輛上路,人們可以測試,原始設備製造商可以測試,現在公眾也可以開始測試。差異正在變得明顯,這一切都與成本與性能有關,對嗎?即使它們具有與 SuperVision 相同的性能,但它們的成本卻比 SuperVision 高 4 倍,沒有競爭力。所以我認為現在事情已經真正投入生產,這一點已經變得顯而易見。

  • Daniel V. Galves - Chief Communications Officer

    Daniel V. Galves - Chief Communications Officer

  • I think that's exactly right. It's that fact of being in production, being able to demo the systems over thousands of miles because the REM maps are now existing across U.S. and Europe. It's the actual cost of the system. Because it's in production, it's no longer a projected cost. It's really an actual cost and then it's this pressure from other automakers moving fast, like Tesla and some of the Chinese OEMs that Amnon has referred to as well. These are all kind of areas where we think is driving this awakening.

    我認為這是完全正確的。事實上,由於 REM 地圖現已遍布美國和歐洲,因此能夠在生產中演示系統,能夠在數千英里之外進行演示。這是系統的實際成本。由於它已投入生產,因此不再是預計成本。這確實是一個實際成本,然後是來自其他快速行動的汽車製造商的壓力,例如特斯拉和阿姆農也提到的一些中國原始設備製造商。我們認為這些都是推動這種覺醒的領域。

  • Operator

    Operator

  • Our next question comes from Itay Michaeli with Citi.

    我們的下一個問題來自花旗銀行的 Itay Michaeli。

  • Itay Michaeli - Director & Global Head of Autos Sector

    Itay Michaeli - Director & Global Head of Autos Sector

  • Just a first question going back to the engagement with the 9 large automakers. One, can you talk about just the reception thus far in the EyeQ kit as well as driving policy behavior model. And then secondly, roughly, when do you expect these automakers to make their sourcing decisions? Is it partially this year or next year or maybe mostly this year?

    第一個問題回到與 9 家大型汽車製造商的合作。第一,您能談談 EyeQ 套件迄今為止的接收情況以及驅動策略行為模型嗎?其次,粗略地說,您預計這些汽車製造商什麼時候做出採購決定?是今年或明年部分還是今年大部分?

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • We believe that the sourcing decisions will take a number of months. So somewhere this year, beginning of next year, first quarter next year, this is kind of the time frame that we are seeing. In terms of working together, EyeQ kits and the behavior shaping language that we have built, as we move forward, we're adding more and more capabilities for allowing OEMs to really have hands-on onto our system.

    我們相信採購決策將需要幾個月的時間。所以今年的某個時候,明年年初,明年第一季度,這就是我們看到的時間框架。在協同工作、EyeQ 套件和我們構建的行為塑造語言方面,隨著我們的前進,我們正在添加越來越多的功能,讓 OEM 能夠真正親身體驗我們的系統。

  • We're gradually creating this as a platform. Now the behavior shaping language, it's really something very powerful. It allows the OEM to write actual code kind of XML files, that describe in great details lots of aspects of the driving policy that they wish to have, and it's all running on top of our driving policy.

    我們正在逐步將其創建為一個平台。現在的行為塑造語言,確實是非常強大的東西。它允許 OEM 編寫 XML 文件的實際代碼類型,這些文件詳細描述了他們希望擁有的駕駛策略的許多方面,並且所有這些都在我們的駕駛策略之上運行。

  • So you can't -- so you have a very powerful driving policy that when you test, you are simply amazed how good it is. And now you can shape it to your own needs. It's like writing code on top of an operating system. So we don't need to write the operating system in order to innovate and write code on top of it. So this is -- as we move forward, we are adding more and more innovation that allow OEMs to have serious hands on top of our platform. And this has a very, very good reception.

    所以你不能——所以你有一個非常強大的駕駛策略,當你測試時,你會驚訝它有多麼好。現在您可以根據自己的需要塑造它。這就像在操作系統之上編寫代碼。因此,我們不需要編寫操作系統來進行創新並在其之上編寫代碼。所以,隨著我們的前進,我們正在增加越來越多的創新,讓原始設備製造商能夠認真地利用我們的平台。這得到了非常非常好的反響。

  • Itay Michaeli - Director & Global Head of Autos Sector

    Itay Michaeli - Director & Global Head of Autos Sector

  • As a quick follow-up, I was hoping you could touch upon the second generation of the REM maps. I think you're developing or maybe launching in terms of what that does to the journey from eyes-on to eyes-off and maybe when you expect that to roll out?

    作為快速跟進,我希望您能談談第二代 REM 地圖。我認為你們正在開發或可能推出這對從關注到不關注的旅程有何影響,也許您預計什麼時候推出?

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • REM maps is a continuous development. It's not that there is a first generation or second generation. Our focus now is expansion in China. And also activating the REM maps in Europe and in the U.S., but China is the first priority because this is where the production vehicles are now being deployed. And we are adding more and more automation to the REM maps. This is necessary in China because in order to comply the Chinese regulations, the foreign entity cannot even view the data. So it makes us more efficient and much, much better in order to comply with those regulations. So this is our first priority.

    REM 地圖是一個持續發展的過程。並不是說有一代或者二代。我們現在的重點是在中國的擴張。我們還啟動了歐洲和美國的 REM 地圖,但中國是首要任務,因為這是量產車輛目前部署的地方。我們正在為 REM 地圖添加越來越多的自動化功能。這在中國是必要的,因為為了遵守中國法規,外國實體甚至無法查看數據。因此,它使我們更加高效、更好地遵守這些法規。所以這是我們的首要任務。

  • And as we move forward to the Porsche program and additional programs that will come in the 25, 26, also Polestar coming out outside of China later in 2024, the priority will start shifting towards Europe and the U.S. to make the REM maps there productized for deployment.

    隨著我們推進保時捷計劃以及 25 款、26 款以及 2024 年晚些時候在中國境外推出的 Polestar 計劃,優先事項將開始轉向歐洲和美國,以將 REM 地圖產品化部署。

  • Operator

    Operator

  • Our next question comes from Ananda Baruah with Loop Capital Markets.

    我們的下一個問題來自 Loop Capital Markets 的 Ananda Baruah。

  • Ananda Prosad Baruah - MD

    Ananda Prosad Baruah - MD

  • Two quick ones. Is there any way to provide context about how we should anticipate the interplay between the mix that you talked about kind of heading into 2024 and the various OpEx dynamics you mentioned some cost savings. You also mentioned some costs coming on. How those things play together in the gross margin OpEx dynamic as we head into 2024? And then I have a quick follow-up after that.

    兩個快的。有沒有什麼方法可以提供背景信息,說明我們應該如何預測您談到的 2024 年混合動力與您提到的一些成本節約的各種運營支出動態之間的相互作用。您還提到了一些即將發生的費用。進入 2024 年,這些因素如何在毛利率運營支出動態中發揮作用?之後我會進行快速跟進。

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • So I'll pass the cost savings and all of that to Moran, our acting CFO.

    因此,我會將節省的成本和所有這些轉嫁給我們的代理首席財務官莫蘭。

  • Moran Shemesh Rojansky - Acting CFO

    Moran Shemesh Rojansky - Acting CFO

  • So yes, as for the OpEx growth. So what we've said in the past, that 2022 and 2023 will be higher than our historical levels. So in terms of percentage rolled out of operating expenses, and we believe that in 2024, we will be returning to our historical levels of between 15% and 20%. So 2022 was almost 35% growth and our regional expectation for 2023 was around 30%. Despite the good news on 2023 OpEx, we still believe that 2024 will be close to 20% growth than 30%. So the OpEx growth would be -- the fact that we are -- the base is decreasing, we're still not going to increase the expectation for 2024.

    所以,對於運營支出增長而言,是的。所以我們過去說過,2022 年和 2023 年將高於我們的歷史水平。因此,就運營支出的百分比而言,我們相信到 2024 年,我們將恢復到 15% 至 20% 的歷史水平。因此,2022 年的增長接近 35%,我們對 2023 年的區域預期約為 30%。儘管 2023 年運營支出有好消息,但我們仍然認為 2024 年將實現接近 20% 的增長,而不是 30%。因此,運營支出的增長——事實上,我們的基數正在下降,我們仍然不會提高 2024 年的預期。

  • Ananda Prosad Baruah - MD

    Ananda Prosad Baruah - MD

  • And then the quick follow-up is you had actually mentioned, I believe, this might be more of a clarification. The Tier 1 OEM inventory destocking has had some impact in demand. And you had talked about a time frame over which it will normalize. Can you just clarify the time frame that you expect that to normalize?

    然後快速跟進是你實際上提到的,我相信,這可能更多是一個澄清。一級OEM庫存去庫存對需求產生了一定影響。您曾談到過一個恢復正常化的時間框架。您能否澄清一下您預計這種情況正常化的時間範圍?

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • Are you talking about SuperVision inventory or EyeQ?

    您是在談論 SuperVision 庫存還是 EyeQ?

  • Daniel V. Galves - Chief Communications Officer

    Daniel V. Galves - Chief Communications Officer

  • No, I think the EyeQ.

    不,我認為是 EyeQ。

  • Ananda Prosad Baruah - MD

    Ananda Prosad Baruah - MD

  • Yes, the EyeQ. That's right.

    是的,EyeQ。這是正確的。

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • Yes, you're talking about the SuperVision inventory, got it. Okay, sorry.

    是的,你說的是 SuperVision 庫存,明白了。哦抱歉。

  • Moran Shemesh Rojansky - Acting CFO

    Moran Shemesh Rojansky - Acting CFO

  • So yes, actually, we've seen that for the second quarter and also the first quarter, the fluctuation between the quarters was pretty big, and we see the second half is much more robust than the first half. So this is -- we think, it's a result, of our customers coming into the beginning of the year with higher levels of inventory, maybe resulting from increasing -- the price increase at the beginning of 2023.

    所以,是的,實際上,我們已經看到第二季度和第一季度,季度之間的波動相當大,而且我們看到下半年比上半年強勁得多。因此,我們認為,這是我們的客戶在年初庫存水平較高的結果,這可能是由於 2023 年初價格上漲所致。

  • Now, we see schedules stabilizing in terms of EyeQ. So if at the beginning of the year, we had requests for shift of volumes from Q2 to Q3 or Q3 to Q4. We are no longer saying that. So it's pretty stabilized. We think that the last 2 years have been very bumpy in terms of the supply chain prices and production volumes. But of course, it's not the same situation as we enter this year. And that's why we see the volume increase and inventory issue we think, played a role more in the first half of the year.

    現在,我們看到 EyeQ 的時間表趨於穩定。因此,如果在年初,我們要求將銷量從第二季度轉移到第三季度或從第三季度轉移到第四季度。我們不再這麼說了。所以說還是比較穩定的。我們認為過去兩年在供應鏈價格和產量方面非常坎坷。但當然,情況與我們今年進入的情況不同。這就是為什麼我們認為銷量增加和庫存問題在今年上半年發揮了更大的作用。

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • I think I'll add a bit. In terms of -- there are 2 types of inventory, right? Inventory that our customers have piled up in terms of EyeQs and that is being -- and that as Moran said, has stabilized. We don't see any requests to push volumes from quarter to quarter. Then there's our own inventory that we built 6 months ahead of EyeQ chips just to make sure that if another crisis knocks on our door, we will be prepared and that inventory has been completed. And that affected kind of cost because we had to buy more EyeQ chips than we normally have in order to protect our inventory. And that I think, we have completed or it's going to be completed until the end of the year.

    我想我會補充一點。就庫存而言,有兩種類型,對嗎?我們的客戶在 EyeQ 方面積累的庫存正在——正如莫蘭所說,已經穩定下來。我們沒有看到任何逐季度增加銷量的要求。然後是我們自己的庫存,我們比 EyeQ 芯片提前 6 個月建立,只是為了確保如果另一場危機來襲,我們會做好準備,並且庫存已經完成。這影響了成本,因為為了保護我們的庫存,我們必須購買比平時更多的 EyeQ 芯片。我認為,我們已經完成或將在年底前完成。

  • Moran Shemesh Rojansky - Acting CFO

    Moran Shemesh Rojansky - Acting CFO

  • Yes, it's at the end of the year.

    是的,現在是年底了。

  • Operator

    Operator

  • Our next question comes from Dan Levy with Barclays.

    我們的下一個問題來自巴克萊銀行的丹·利維。

  • Dan Meir Levy - Senior Analyst

    Dan Meir Levy - Senior Analyst

  • First, a clarification on some of the volume commentary that you received as far as it relates to sequential improvements. Maybe you could just clarify again just what the cadence of volume should be over the next couple of quarters as far as it relates to SuperVision.

    首先,對您收到的一些與後續改進相關的捲評論進行澄清。也許您可以再次澄清一下與 SuperVision 相關的未來幾個季度的銷量節奏。

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • Yes, just to clarify what we said in the prepared remarks, we were referring to EyeQ volumes being up more than 10% versus Q2 levels and then Q4 levels being more than 25% above Q3. We should also see some average selling price increases because of SuperVision becoming a bigger part of the mix, and that was really not part of the comment about the volumes. Just really wanted to kind of support that volume expectations, volume orders from our customers have been very solid and point to much higher volumes in the second half of the year.

    是的,只是為了澄清我們在準備好的評論中所說的內容,我們指的是EyeQ 交易量比第二季度的水平增長了10% 以上,然後第四季度的水平比第三季度增長了25 % 以上。我們還應該看到平均售價有所上漲,因為 SuperVision 成為了產品組合中更重要的一部分,而這實際上並不是銷量評論的一部分。只是真的想支持銷量預期,我們客戶的批量訂單非常穩定,預計下半年銷量會更高。

  • Dan Meir Levy - Senior Analyst

    Dan Meir Levy - Senior Analyst

  • And then I wanted to just follow up on the conversation specifically on Chauffeur. So it sounds like (inaudible) maybe more of a focus on dedicated platforms, less retrofitting, more partnership, et cetera. Chauffeur, maybe you can give us some sense. I know that was part of the engagement conversation that you mentioned. But how significant is your spend on Chauffeur right now? What is the interest in Chauffeur. Are your customers seeing this as sort of an evolution of SuperVision? So it's very aligned with the SuperVision spend? Or is this a separate stream and it's something that maybe the timing is getting pushed out a bit more and that's playing into the OpEx commentary.

    然後我想跟進特別是關於 Chauffeur 的對話。所以聽起來(聽不清)可能更多地關注專用平台,更少的改造,更多的合作夥伴關係等等。司機,也許你能給我們一些啟發。我知道這是你提到的訂婚談話的一部分。但您現在在 Chauffeur 上的花費有多大?對司機有什麼興趣。您的客戶是否認為這是 SuperVision 的一種演變?那麼它與 SuperVision 的支出非常一致嗎?或者這是一個單獨的流,它的時間可能會被推遲一點,這會影響到運營支出的評論。

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • It's very aligned with SuperVision. You can think of it as kind of an incremental addition to SuperVision. SuperVision is mostly camera-based. There are some radars as an option. For example, in the Zeekr 001, there is a front-facing radar. In the Porsche program, there's also a surround radar. And when you go to eyes-off, the Chauffeur, you're adding some LiDAR as well, not to create more redundancy and a bit more compute. Instead of two EyeQ 6 that we have in the -- in the Porsche program, it's three EyeQ 6.

    它與 SuperVision 非常一致。您可以將其視為對 SuperVision 的增量添加。 SuperVision 主要基於攝像頭。有一些雷達作為選項。例如,在Zeekr 001中,有一個前置雷達。在保時捷的計劃中,還有環繞雷達。當你離開眼睛時,司機,你也會添加一些激光雷達,而不是創造更多的冗餘和更多的計算。我們在保時捷計劃中使用的是三台 EyeQ 6,而不是兩台 EyeQ 6。

  • So it's really -- it's really incremental. The heavy lifting is not so much on the development, it's on the validation because you need to prove that you are multifold times better than human statistics -- crash statistics -- and that creates an effort of validation. This is something that we're working together with the OEMs. We are creating hardware in the loop farms of thousands of ECUs for each program. For example, for the SV62, for the CH63, for the DR64, each one has the Hardware-in-the-Loop farm of many, many thousands of ECUs in order run through thousands of hours of data per night.

    所以這確實是增量的。繁重的工作並不在於開發,而在於驗證,因為你需要證明你比人類統計數據(崩潰統計數據)好幾倍,這會產生驗證工作。這是我們正在與原始設備製造商合作的事情。我們正在為每個程序在數千個 ECU 的循環場中創建硬件。例如,對於 SV62、CH63、DR64,每個都具有由成千上萬個 ECU 組成的硬件在環場,以便每晚運行數千小時的數據。

  • And this is ongoing and part of our budget, part of our OpEx growth. It's not something that we did not anticipate or would come as a surprise. In terms of the OEM traction, we are in serious engagements with a number of OEMs. I believe that at least 2 of them we will be able to close this year.

    這是持續進行的,是我們預算的一部分,也是我們運營支出增長的一部分。這並不是我們沒有預料到或感到驚訝的事情。就原始設備製造商的吸引力而言,我們正在與許多原始設備製造商進行認真的合作。我相信今年我們至少能夠關閉其中兩個。

  • Daniel V. Galves - Chief Communications Officer

    Daniel V. Galves - Chief Communications Officer

  • Priscilla, we can only take one more question.

    普里西拉,我們只能再問一個問題。

  • Operator

    Operator

  • Our next question comes from Adam Jonas with Morgan Stanley.

    我們的下一個問題來自摩根士丹利的亞當·喬納斯。

  • Adam Michael Jonas - MD

    Adam Michael Jonas - MD

  • Amnon, what are your thoughts on the advantages or disadvantages of using custom silicon versus GPU such as an NVIDIA A100 for vision neural net training. Curious what Mobileye's strategy is regarding custom versus GPU? And is there any effort to move towards a custom system in a vertically integrated way, the way some of your competitors are?

    Amnon,您對使用定制芯片與 GPU(例如 NVIDIA A100)進行視覺神經網絡訓練的優缺點有何看法。好奇 Mobileye 在定制與 GPU 方面的策略是什麼?是否有任何努力以垂直整合的方式轉向定制系統,就像您的一些競爭對手那樣?

  • Amnon Shashua - Co-Founder, CEO, President & Director

    Amnon Shashua - Co-Founder, CEO, President & Director

  • Our system is perfectly integrated. We have an EyeQ chip. But instead of GPUs, we have our own accelerator families. We have 5 different families of accelerators and that's what makes our chip very efficient. If you look at the SuperVision, the two EyeQ5 chips now on Zeekr 001, on paper, the total TOPS is the 30-something compared to that one-tenth of the TOPS on paper of the competing solution and you don't see any advantage in terms of performance for the competing systems.

    我們的系統完美集成。我們有 EyeQ 芯片。但我們沒有 GPU,而是擁有自己的加速器系列。我們有 5 個不同系列的加速器,這使得我們的芯片非常高效。如果您查看 SuperVision(Zeekr 001 上現在的兩個 EyeQ5 芯片),紙面上的總 TOPS 約為 30 左右,而競爭解決方案紙面上 TOPS 的十分之一,您看不到任何優勢就競爭系統的性能而言。

  • So we have highly efficient solution. And the advantage of a highly efficient solution is of course, power consumption. Size of the ECU, whether you need to -- how you need cool it. Power is very important when you're talking about an electric vehicle. So our approach, which is not a general-purpose chip like the A100, it's really customized to the type of workloads that we need in order to power both computer vision and driving policy has great advantages of efficiency.

    所以我們有高效的解決方案。高效解決方案的優勢當然是功耗。 ECU 的尺寸,您是否需要 - 您需要如何冷卻它。當您談論電動汽車時,動力非常重要。因此,我們的方法不是像 A100 這樣的通用芯片,它實際上是根據我們為計算機視覺和駕駛策略提供支持所需的工作負載類型進行定制的,具有巨大的效率優勢。

  • Daniel V. Galves - Chief Communications Officer

    Daniel V. Galves - Chief Communications Officer

  • Thanks, everyone, for joining the earnings call. We will talk to you next quarter. Thank you.

    感謝大家參加財報電話會議。我們將在下個季度與您交談。謝謝。