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Seeing Machines' FOVIO system to be installed in more models by existing customer

Europe is encouraging car manufacturers to include more safety features such as driver monitoring systems (DMS), automatic emergency braking, and lane-keeping assistance

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Seeing Machines is an industry leader in computer vision technologies

Seeing Machines Limited (LON:SEE) said its FOVIO driver monitoring platform is to be installed into additional car models for an existing German customer.

The expanded deployment with the original equipment manufacturer includes variants targeting the European New Car Assessment Programme (Euro NCAP) safety goals.

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The expanded engagement, scheduled for production from 2021, is expected to deliver incremental revenue of between A$11mln and A$30mln to the AIM-listed driver monitoring systems (DMS) specialist.

“This important milestone confirms Seeing Machines' ability to scale our technology and participate in a broadening DMS market, including entry-level solutions targeting Euro NCAP goals,” said Paul McGlone, the chief executive officer of Seeing Machines.

“Further validation of our DMS technology is very encouraging as Euro NCAP and other regulatory bodies draw closer to finalising requirements to enhance safety across the industry,” he added.

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Price: 4.525 GBX

AIM:SEE
Market: AIM
Market Cap: £152.28 m
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