Seeing Machines Limited (LON:SEE) has confirmed that it is in negotiations to deliver its FOVIO Driver Monitoring Systems to an additional new automotive original equipment manufacturer (OEM).
In a statement noting recent press rumour and speculation, the AIM-listed firm said, If secured, this programme design win would be a significant for Seeing Machines – which would be working with one or more Tier 1 automotive suppliers for a new third OEM.
READ: Surge of interest in Seeing Machines' driverless car tech
The group added that, if secured, the order would again validate the strengths of the FOVIO DMS.
The firm said: “This opportunity forms a part of Seeing Machines' current potential sales pipeline, and if won, would not materially change management's overall expectations in relation to likely financial performance of the business in the coming years.”
It added: “At this time there can be no certainty that this sales opportunity will result in a sales contract for the Company. A further announcement will be made as and when appropriate.”