The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
We're officially launching our next generation world-leading driver safety technology to our Aftermarket customers at #GeotabConnect 2024 in February. Visit us to discover #Guardian Generation 3: our driver #drowsiness solution that's been independently tested and complies with the European Commission’s #GSR 🚚 #SeeingMachines #DDAW
https://www.linkedin.com/posts/seeingmachines_geotabconnect-guardian-drowsiness-activity-7155771220251078657-h02g?utm_source=share&utm_medium=member_desktop
Brock
5Yrs may be the average contract length but in 1st Year its still 50x that of Auto. Hardware sales and 12 months monitoring is prob $500.
5000 units in a qtr is like 250k cars income coming in the following 12 months.
Really hoping that Gen3s kick off this Year and Legislation starts seeing this motoring on.
Caterpillar Inc. supports site safety with technology to see, mitigate and manage fatigue and distraction on site. The Cat® MineStar™ Driver Safety System (DSS) comes under the global OEM’s MineStar Detect suite of solutions and uses a high-tech camera to monitor eye-closure duration and head pose, then instantly alerts operators via seat vibration and an audio alarm alert the moment fatigue or distraction is identified.
MineStar DSS is the one of the leading fatigue detection systems globally. Sean McGinnis, Vice President and General Manager of Technology and Global Sales Support at Caterpillar told IM Editorial Director, Paul Moore: “The market has been growing faster in the past few years as mines focus ever more closely on safety. Since 2021, Caterpillar fatigue management system units running globally have increased 80%. This includes use in both mining fleets and support equipment such as light vehicles, mobile maintenance vehicles and buses that are also being used on mine properties. And this support equipment part of the market is really a big focus now. Support equipment vehicles are equipped with a similar solution from the MineStar Detect portfolio for light vehicle applications called Guardian 2 which was initially designed for fatigue and distraction monitoring in off-highway vehicles.”
So the MineStar DSS footprint continues to grow. But the solution is not standing still – McGinnis told IM: “Today’s offering, what we call DSS 5.0, which is deploying in the market now, has some fairly significant upgrades to the underlying algorithms that relate to head position tracking, eye closure tracking and facial recognition. This is backed up by an improved camera that has enhanced granularity particularly in relation to the eye tracking.”
McGinnis also gave some insight into how much better and smarter the camera systems are becoming. “Today we can detect if an eye closure is just due to dryness or itching for example, as opposed to an unplanned or uncontrolled eye closure related to fatigue.”
He adds on the market itself: “A lot of the focus now is not just on support equipment but also the mid-tier miners – including industrial minerals operations and quarries with smaller fleets and smaller classes of machines. Their operators still get tired – it is just that the first wave of fatigue management system deployment – not just from us but from other players – was in the large mines, most of which now have some kind of system installed, whether predictive or reactive or both.”
https://im-mining.com/2024/02/08/cat-dss-evolving-and-growing-rapidly/
Brock
We just need more numbers as fleet on a 5yr contract brings in a lot more than auto per unit.
$1300 monthly’s
$1200 hardware
Each truck is worth about 250 auto licences income less hardware cost & monitoring direct expenses.
Iam sure as legislation looms & with Gen3 these bigger fleet orders with start coming in. Added to the market of oem supplied units.
These money in them hills Iam telling you there’s money in them hills :)
Meet full-year expectations.
Underlying revenue for the six months ended 31 December 2023 was US$25.6 million, up 28%, while recurring sales were up 22% year-on-year to US$14.5 million.
Seeing Machines exited the period with US$22.2 million in the bank, while the receivables and inventory balance was US$31.1 million, with an expected working capital unwind of US$5-6 million in the second half.
Driving this growth was a 116% year-over-year increase in the number of cars on the road equipped with Seeing Machines' technology, now surpassing 1.5 million vehicles.
Operational milestones during the period included securing contracts to deliver its FOVIO Driver Monitoring System (DMS) technology to new and existing European OEMs, with initial lifetime values of US$30 million and US$15 million, respectively.
This new business contributed to Seeing Machines' portfolio of 17 automotive programmes with 11 individual OEM customers with a lifetime value of US$366 million.
In the update, Seeing Machines said it and Collins Aerospace have initiated the joint development of the world's first aviation fatigue detection solution - a first in the industry.
The company's aftermarket DMS, Guardian Generation 3, has been independently verified to meet the European Commission's General Safety Regulation requirements for drowsiness detection, set to come into effect in July 2024.
This product was launched at CES 2024, where Seeing Machines showcased its technology to a global audience, facilitating 35 meetings over three days with a diverse group of stakeholders, including technology partners, regulators and investors.
Chief executive Paul McGlone said: "Looking ahead, the growing industry demand for fatigue and distraction solutions to support enhanced transport safety, combined with our market leadership position, production pipeline, proprietary AI technology and balance sheet strength, leave us well positioned to meet FY2024 expectations and cash break even run rate during FY2025."
https://www.proactiveinvestors.co.uk/companies/news/1040495/seeing-machines-on-track-to-hit-cash-break-even-target-after-strong-half-1040495.html
Colin said this at CES. So somethings coming for sure.
have seen it for myself at #ces2024. Here is the Magna International Seeing Machines #driver and #occupant #monitoring #mirror #DMS #OMS. That's me in the back taking the picture. In a Q&A Tuesday, Magna's Peter Spencley confirmed that the solution is fully compliant with Euro NCAP - For Safer Cars, Vans & Trucks 2023 test protocols for both owl and lizard movement detection. The occupant monitoring mirror was clearly installed in the ID.7 on display at the Cerence/VW press conference Monday, so must be due to go into production imminently. There's a second generation product in the works too, but that is Magna's story to tell. Based on what I have seen here at CES, this product is simply miles in front of everything else. If you are attending The Autonocast party tonight, come and ask me about it.
Everyone has to ask themselves do you trust Colin or the moaners & derampers more?
Brock
As Colin Said in 2024 VW has started. But BMW is really ramping up. Lots new models with idrive 8.5 & 9 with SEE in.
The all new BMW X2 and the first ever BMW iX2 @BMW @BMWM @bmwuk @BMWUSA The BMW X2 is the car that first introduced the vehicle concept of a Sports Activity Coupé (SAC) for the premium compact segment. And now the even more distinctive, even sportier and even more forward-looking second generation is taking to the stage. Significantly larger dimensions and a pronounced coupé silhouette clearly showcase in its exterior design the development leap taken by the new BMW X2. The worldwide market launch will get underway in March 2024
https://automobilemag.co.uk/the-all-new-bmw-x2-and-the-first-ever-bmw-ix2/
BMW equips Steyr plant for New Class electric drive production.
BMW has completed the new halls for the future production of New Class electric drive systems at its Austrian plant in Steyr and is now starting to set up the plant. Pre-series production is scheduled to start there in July.
Around 300 machines and production facilities will have to be set up in the coming months so that pre-series production can start on schedule in July of this year, according to BMW. In total, the BMW Group is investing around one billion euros in electric drives at the Steyr site by 2030. In future, the Steyr plant will produce over 600,000 drive systems per year – in parallel with diesel and petrol engines.
https://www.electrive.com/2024/02/02/bmw-equips-steyr-plant-for-new-class-electric-drive-production/
Considering October strikes in USA it could be worse. The serious bit started in 2024 now though.
We need great TPIs from here onwards but also need to start seeing some auto wins for the future.
With the likes of bmw ramping up & VW starting this Qtr the next 2 TPIs really need to start climbing.
Tech offerings are the same as what you'll find in the 5-series and i5 sedans, including a huge curved display screen on the dashboard and the latest iDrive 8.5 software with an in-car gaming platform. There's also an available hands-free driver-assist function that can operate under certain conditions on the highway.
https://www.caranddriver.com/news/a46671178/bmw-5-series-wagon-revealed/
Ford continued to build momentum behind its software-enabled services. Total paid software
subscriptions across all segments rose 8% sequentially in the fourth quarter to about 630,000.
During 2023, the company expanded availability of Ford’s BlueCruise advanced driverassistance system to Great Britain, Germany and Spain, a first in that country – in addition to
the U.S. and Canada. More than 290,000 BlueCruise-equipped Ford and Lincoln vehicles are
now on the road, with customer use exceeding 2.3 million hours and 156 million hands-free
miles – and counting
https://s201.q4cdn.com/693218008/files/doc_financials/2023/q4/2-6-24-Ford-Delivers-Solid-2023-Provides-Outlook-for-Healthy-24-Company-Declares-Regular-Supplemental-Stock-Dividends.pdf
Ford (F) assembled a “super-talented skunk works team” to build a low-cost EV platform. The small team consisted of “some of the best EV engineers in the world,” according to Ford’s CEO Jim Farley. It will be used to launch several new software-defined electric models.
Ford is “secretly” developing a low-cost EV platform
Following Tuesday’s Q4 and full-year 2023 earnings results, Farley explained that Ford is adjusting its capital while switching gears to focus on smaller EVs.
Ford’s leader said on the company’s earnings call that the company made a bet in silence two years ago to develop a low-cost EV platform. Ford put together a small team with “some of the best EV engineers in the world.” The project was separate from Ford’s main operations.
Meanwhile, Ford’s hands-free BlueCruise driving passed 150 million miles, up 25% from Q3. BlueCruise gross margins are at +70% as Ford doubles down on software-defined vehicles.
https://electrek.co/2024/02/07/ford-buildin-low-cost-ev-platform-tesla/
Phil
Upto now Lincoln has always been the same system as Fords Bluecruise. They called it Activeglide for a Year but changed last Year. What the future holds 2026/27 some models may be dual sourcing.
Like BMW showed you need to still get it to SOP and make it work or they could change suppliers ;)
Just last week, the refreshed 2025 Ford Explorer debuted with a revamped trim level lineup, a simplified powertrain range, and the typical exterior and interior styling updates – plus the arrival of the all new Ford Digital Experience infotainment system. Thus, it was clear that it was only a matter of time before the Explorer’s more luxurious counterpart – the 2025 Lincoln Aviator – was also fully revealed. Now, that’s precisely the case, as FoMoCo has officially pulled the covers off the latest version of that model, too.
https://fordauthority.com/2024/02/2025-lincoln-aviator-debuts-with-new-tech-bluecruise/amp/
Seeing Machines
This is one of the great unknown success stories to come out of the Australian National University. Its progress toward profitability offers fascinating insights into the consequences of years of R&D investment in a technology that was once ahead of its time.
The company’s driver monitoring systems, which are used to combat fatigue and reduce car accidents, have been sold to a range of original equipment manufacturers (OEMs) which sell products to global carmakers including BMW and General Motors.
CEO Paul McGlone says the company is at an inflection point because the amount spent on R&D as a percentage of revenue will fall from about 60 per cent to 20 to 30 per cent as revenue surges. In other words, a plunging R&D ratio will be a positive sign.
Seeing Machines, which is listed on the AIM market in London, has forecast a doubling in revenue to $US125 million by 2026.
The critical aspect of that forecast is that revenue from royalties will rise about nine-fold to as much as $US68.75 million.
McGlone says the royalties, which come from long-term contracts with OEMs, have a profit margin of about 95 per cent.
It would not be surprising if the valuation of Seeing Machines cracks $1 billion in the next two years as the market re-rates the stock on the back of higher revenue and the arrival of cashflow break even.
https://www.afr.com/technology/what-investors-can-learn-from-analysing-r-and-d-spending-20240204-p5f2a9
Munich. Additions to the line-up of drive systems and the range of optional extras are set to further increase the appeal and diversity of the BMW product range from spring 2024. The BMW i5 Sedan and BMW iX2 fully electric models will each be available from March 2024 with an additional drive system variant. The drive system offerings for the BMW X2 and BMW XM have also been expanded. The innovative Highway Assistant will bring increased comfort levels over longer journeys to more of the brand’s model series. And additional exterior paint finishes will be offered for the BMW 5 Series Sedan, BMW X2 and BMW iX2. Customers will also be able to order the business sedan with new variants of the BMW Individual Merino leather trim.
Attractive new features will also be introduced in spring 2024 in the area of digital services. These include easier use of the voice assistant Siri (as part of the integration of the Apple iPhone into cars specified with BMW Operating System 9), and the optimised display of ratings for charging stations for fully electric and plug-in hybrid BMW models. The steady expansion of the range of functions for the My BMW App also continues.
https://www.press.bmwgroup.com/global/article/detail/T0439303EN/bmw-model-update-measures-for-spring-2024?language=en