Seeing Machines Ltd - Canberra-based driver monitoring technology - Appointed by existing customer and unnamed German automaker to deliver its FOVIO Driver and Occupant Monitoring System.
Program covers an expansive number of vehicle models with mass production scheduled from early 2024 and an initial lifetime value of AUD125 million, reflecting the largest awarded program to date.
"This award is special as it is underpinned by many of the key market tenets we have been planning for and investing in, to differentiate Seeing Machines. This includes the rapid DMS market expansion due to automotive safety regulations including Euro NCAP and GSR, the move to combine occupant monitoring with driver monitoring for premium cabin features, and the need to achieve improved system cost, performance, and reliability at scale through smart system design, including advanced optical path developments and deeply embedded AI software using optimized accelerated heterogeneous processing," says Nick DiFiore, general manager for Automotive.
Current stock price: 10.65 pence, up 5.5% on Thursday
Year-to-date change: up 54%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Seeing Machines (SEE)