11:22 AM EDT, 03/20/2024 (MT Newswires) -- (Updates with stock move in the headline and first paragraph.)

Mobileye Global ( MBLY ) shares were rising almost 6% in recent trading Wednesday after it entered into a cooperation agreement with Volkswagen ADMT to develop a self-driving system for Volkswagen's ID.Buzz electric vehicle.

Volkswagen said Mobileye will develop and supply software, hardware and digital maps for the ID.Buzz.

Financial terms were not disclosed.

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