Seeing Machines Ltd's (AIM:SEE, OTC:SEEMF) shares jumped 7% to 3.68p after the in-car safety specialist announced growing traction in China through its partnership with auto parts giant Magna and a leading German carmaker.
The AIM-listed company said Magna’s integrated mirror system, which embeds Seeing Machines’ driver and occupant monitoring technology, has now completed its first full year of large-scale production in China, a major milestone for the group.
Its AI-powered system uses a single camera, typically mounted behind the rear-view mirror, to track eye and head movements, detecting driver distraction or fatigue and issuing alerts to prevent accidents.
Chief executive Paul McGlone hailed the technology as a “world-first solution” that highlights the firm’s “commitment to safety innovation” and ability to deliver advanced, cost-effective systems to carmakers.
The programme could ultimately be rolled out to several million vehicles each year and marks Seeing Machines’ biggest automotive contract to date, part of a global portfolio spanning 18 programmes with 11 manufacturers worth an estimated $392 million.
Investors welcomed the progress as a clear signal that Seeing Machines’ technology is moving from pilot projects into mass production, strengthening its position in the fast-growing automotive safety market.