The race is on to get self-driving cars onto the streets, with Tesla, Google, GM and many others rapidly advancing test drives with competing autonomous vehicle technologies. Intel-owned Mobileye announced July 20 it’s the first and currently the only company now holding an AV testing permit in New York City.

Jack Weast, vice president of Mobileye’s Automated Vehicle Standards and senior principal engineer at Intel, discusses what this development means for Mobileye and the future of mobility stocks.

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