Mobileye to supply Stellantis with cloud-based driver assistance technology

July 21 (Reuters) - Mobileye Global will supply Stellantis with cloud-driven advanced driver-assistance technology, the Israeli company said on Tuesday, as automakers race to meet rising demand for connected safety systems.

The ADAS hardware maker's shares were up about 6% in premarket trading.

The companies said select models from Stellantis, the parent of Jeep and Chrysler, will integrate Mobileye's Road Experience Management technology from 2027, using crowdsourced road data to improve lane keeping and hands-free driving.

ADAS has become one of the auto industry's fastest-growing technologies as carmakers race to offer increasingly sophisticated safety and convenience features and generate higher-margin software revenue.

The technology is widely seen as a step toward fully autonomous driving, though regulators still require drivers to remain attentive when using hands-free systems.

The first applications are expected in select U.S. Stellantis models next year, with wider rollout subject to vehicle platform and configuration.

Stellantis will be the fifth of the world's 10 largest automakers to contribute data to Mobileye's REM platform, which covers more than 95% of public roads in the United States and Europe. More than 8 million vehicles logged 34 billion miles of data on the platform last year, Mobileye said.

Jerusalem-based Mobileye's system collects road data through front-facing cameras in EyeQ-equipped vehicles and combines it with cloud-based mapping intelligence. That allows vehicles to receive real-time updates on lane markings, road layouts and construction zones.

(Reporting by Akash Sriram in Bengaluru; Editing by Tasim Zahid)