Member Info for schlemiel

Esco -

Great update. Thanks

The wait goes on and the terms of refinancing to be decided.

Honda, Nissan, Mitsubishi eye standardizing next-gen part to cut costs

Electronic control units regulate software for features such as self-driving

Three of Japan's major automakers have entered final discussions about joint procurement for next-generation vehicles. (Source photos by Nikkei)

HAJIME MATSUMOTO and RYO MUKANO

June 25, 2026 01:25 JST

https://asia.nikkei.com/business/automobiles/honda-nissan-mitsubishi-eye-standardizing-next-gen-part-to-cut-costs

Quick update on the #driver #monitoring #systems #DMS market. The sector looks to be in a holding period of anticipation and reflection, with focus on the imminent introduction of the General Safety Regulation #GSR for advanced driver distraction warning #ADDW coming in at the beginning of July. This follows on the back of Euro NCAP - For Safer Cars, Vans & Trucks 2026 scoring which was introduced at the start of the year. Today any car which fails to score sufficient points in the "Safe Driving" category is automatically disqualified from the maximum 5-star Euro NCAP rating.

The next published figures set to come out in August (for the period April to June) should show continued strong production growth for the leading DMS suppliers. Does Smart Eye reach 5M cars on road? Does Seeing Machines reach 8M? Do any new tier-1 collaboration agreements get announced? And which DMS tier-2 might be next to get acquired?

The focus on contract awards now mostly lies with decisions made by the Japanese #OEMs, particularly Toyota Motor Corporation. Can we see anything that might point to a BMW Group Gen. 4 DMS award? Does visual evidence suggest Tesla has replaced its in-house DMS for vehicles sold in Europe with more advanced #software from someone else?

Also of interest is further announcements of contract wins by Mobileye for the in-house DMS software integrated with its ADAS stack running on the EyeQ6 SoC. Seeing Machines demonstrated this capability at InCabin Sensing in Berlin, fusing #ADAS signals from STRADVISION with its DMS signals.

ADAS/DMS fusion is the current key area I am watching, along with advances in 3D depth mapping in anticipation of the cabin signals being fused with #airbag systems in the future NCAP29 protocols.

https://www.linkedin.com/posts/colin-barnden_driver-monitoring-systems-activity-7477328018676383745-Yvjn

Stifel released an updated note today (18/06/2026) directly addressing the $31 million contract expansion for Seeing Machines.

Their primary take is highly positive, framing the deal as proof of "customer stickiness" that moves the investment thesis beyond just a short-term regulatory play. Stifel reiterated its Buy rating and 10.5p price target (more than double the current trading price).

The key takeaways from Stifel's flash note today include:

1. The "Secret" OEM is Likely Volkswagen

While Seeing Machines kept the European automaker anonymous in the regulatory news service (RNS) release, Stifel analysts explicitly stated they believe the existing OEM is likely the Volkswagen Group. They expect the technology to scale across VW's massive brand estate, including Audi and Skoda.

2. Implementation via Rear-View Mirrors

Stifel noted that the technology for this specific expansion is expected to be implemented directly into the vehicles' rear-view mirrors. This approach allows for rapid, seamless integration across multiple models without requiring extensive redesigns of the vehicle dashboards.

3. A Shift from "Regulatory Capture" to "Customer Retention"

This is the core of Stifel's note today. European automakers have already locked in their initial driver-monitoring suppliers to meet the looming safety mandates. Because this deal is an expansion with an existing customer rather than a new one, Stifel argues it proves Seeing Machines has earned long-term trust through product quality and execution, rather than just winning "regulatory arbitrage."

4. Market Share Penetration Gearing for 50%+

Stifel estimates that Seeing Machines already has its driver monitoring systems in roughly 30% of vehicles registered for sale in Europe—even before strict compliance became mandatory. With this massive $31m multi-region expansion (spanning Europe, the US, and China), Stifel points toward the company's market penetration potentially reaching 50% or higher in the second half of this year.

The Broader Investment Conclusion: Stifel highlights that this deal underscores a vital, overlooked truth: driver monitoring is rapidly becoming a standard global automotive feature, not just a European regulatory quirk. For a company transitioning toward consistent profitability, expanding within an existing titan relationship is a massive signal of competitive durability.

https://www.linkedin.com/posts/warren-messenger-b9a4a073_savinglives-safetycritical-proactivesafety-activity-7473365047575236608-GyUV

Nm

I'd say it's almost a fait accompli with SEE being an industry leader and with a significant market share.

Bonzo

You know what, I'd rather suffer dilution. I hate debt on the balance sheet, it comprises future equity

What a write up this is. SEE is most definitely on its way for the first time since its inception.

Seeing Machines Ltd's (AIM:SEE, OTC:SEEMF, FRA:M2Z) $31 million expansion, commencing production in the second half of 2026, differs fundamentally from recent wins with new Japanese suppliers.

Stifel analysts believe the existing OEM is likely Volkswagen, expanding across its brand estate, including Audi and Skoda, with implementation via rear-view mirrors to enable rapid deployment.

This matters because it demonstrates customer retention and upsell, not regulatory displacement.

European manufacturers have already locked in their driver monitoring suppliers ahead of the June deadline mandating the technology across new vehicle types.

Seeing Machines' expansion with an incumbent customer suggests the company has earned trust through product quality and execution rather than regulatory arbitrage.

Stifel estimates the company has driver monitoring systems in roughly 30% of vehicles registered for sale in Europe, even before regulatory compliance became mandatory.

The new deal points toward penetration reaching 50% or higher in the second half of this year. This asymmetry between market share and regulatory drivers suggests Seeing Machines has built something manufacturers value beyond compliance.

The production scope across China, the US and Europe underscores an overlooked truth: driver monitoring is becoming a global feature, not a European regulatory quirk. Only the EU has mandated it, yet manufacturers are adopting it worldwide.

This indicates the addressable market extends far beyond the 12.5 million vehicles that European OEMs will produce in 2026.

Peel Hunt noted that new contract wins are likely to emerge internationally or when incumbent suppliers make errors. Today's announcement inverts that logic. It shows incumbent suppliers retaining customers because they are performing well.

For a company still not yet consistently profitable, customer stickiness and expansion within existing relationships is a stronger signal of durability than new logo wins. That reframes the investment case from early-stage market capture to sustainable competitive positioning.

Stifel rates the shares 'buy' with a 10.5p price target, more than double the current 4.54p share price.

Apologies for the bad grammar.I am the product of a comp education

SEE's on its way we just need SEE and Magna to sort out how they intend to sort out the conv-bond

Very nice

One of the final remaining issues to be resolved is Magna's CB. Will they convert and if they do at what price?

It's becoming very exciting. I love the word 'expansion', implies more to come.

Seeing Machines announces US$31m expansion on existing Automotive production program

Seeing Machines Limited (AIM: SEE, "Seeing Machines" or the "Company"), the advanced computer vision company focused on transport safety, announces a significant expansion to an existing Automotive production program with a major European OEM. The expansion, with an estimated value of US$31 million, expands the deployment of Seeing Machines' Driver and Occupant Monitoring System (DMS/OMS) technology across additional vehicle models and is expected to commence production in the second half of 2026.

Working with a key Tier 1 customer, the expansion will deploy Seeing Machines' DMS/OMS technology across an expanded range of vehicle platforms broadening established production programs in China, the United States and Europe.

The additional models represent a further phase of adoption by the OEM, reinforcing Seeing Machines' position as a trusted supplier of production-proven in-cabin sensing technology at global scale. As automotive manufacturers accelerate the deployment of in-cabin monitoring solutions across broader vehicle portfolios, driven by evolving safety regulations and increasing consumer expectations for safer and more intelligent vehicles, the value of proven technology, established integration and successful program execution is becoming increasingly clear.

Paul McGlone, CEO of Seeing Machines, commented: "This expansion is a significant milestone for Seeing Machines and reflects both the strength of our technology and the depth of our existing OEM and Tier 1 relationships. The addition of further vehicle platforms demonstrates the opportunity to grow program value over time as customers broaden deployment across their model portfolios.

"As in-cabin monitoring becomes an increasingly standard feature in vehicles globally, OEMs are placing greater value on proven, production-ready technology and successful execution at scale. We believe this positions Seeing Machines well to capture further growth opportunities across our Automotive pipeline."

Nm

JR

That's probably the most important sentence in today's RNS. It's a nod to further orders to come

Seeing Machines wins two new Japanese OEM programs

Seeing Machines Limited (AIM: SEE, "Seeing Machines" or the "Company"), the advanced computer vision company focused on transport safety, has secured Automotive program awards to deliver its Driver and Occupant Monitoring System (DMS/OMS) technology for two separate Japanese car manufacturers. The awards, won through a leading European and Japanese Tier 1 supplier, both existing customers of Seeing Machines, further strengthen the Company's growing Automotive pipeline and position in the global in-cabin sensing market.

Under both programs, Seeing Machines will provide its DMS/OMS software across multiple vehicle platforms scheduled for production from 2028. The awards span single and dual camera architectures, including steering column-mounted and overhead console positions. Together, the programs are expected to generate an estimated initial lifetime value of approximately US$11 million.

These wins reflect growing momentum among Japanese automotive manufacturers as they adopt advanced in-cabin sensing to support semi-automated technology and meet evolving safety regulations and consumer expectations, including Euro NCAP (New Car Assessment Protocol) requirements and other global safety assessment programs. The awards further strengthen Seeing Machines' position as a trusted partner to Tier 1 suppliers and vehicle manufacturers deploying next-generation safety systems at scale.

Nm