Asia Tech Wire (Sep 10) -- Israeli self-driving company Mobileye announced on Monday its decision to terminate the internal development of next-generation frequency modulated continuous wave (FMCW) lidars for use in autonomous and highly automated driving systems.

The company will shut down its LiDAR development unit by the end of 2024, affecting about 100 employees.

Mobileye said, "This action does not impact any of our customer product programs or product development in general."

Earlier, news broke that Intel was considering selling part of its stake in Mobileye.