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Polestar (NASDAQ:PSNY) stock is getting a boost on Friday after the electric vehicle (EV) company announced a new partnership with Mobileye (NASDAQ:MBLY).
According to a press release from the company, it’s teaming up with Mobileye to add its autonomous driving solutions to Polestar EVs. That will see the Mobileye Chauffeur platform added to the Polestar 4.
The Polestar 4 is the newest EV from Polestar, and it goes on sale in China today. The company intends to expand its release of the EV globally in 2024. Self-driving features of the EV include “hands-off and eyes-off, point-to-point autonomous driving on highways” and “eyes-on automated driving for other environments.”
Thomas Ingenlath, CEO of Polestar, said the following about the partnership:
‘We are very keen to push innovation in our performance electric vehicles together with Mobileye. We know that driving yourself is not always fun and exciting – this technology means our customers could enable autonomous driving when they want, making all future journeys enjoyable.”
PSNY Stock Movement Today
Following news of the addition of Mobileye’s platform to the Polestar 4, some 661,000 shares of PSNY stock have changed hands. That’s still well below the company’s daily average trading volume of about 3.1 million shares.
MBLY is seeing slightly more stock movement, with some 1.3 million shares being traded as of this writing. However, that’s also a ways off from its daily average of 3.3 million units.
PSNY stock is up slightly, while MBLY shares are up 2.6% as of Friday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.