Seeing Machines Limited (“Seeing Machines” or the “Company”), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, announces a significant generational program extension with an existing North American Tier- 1 customer and OEM.
The initial program, already in production, will expand to a total of 19 distinct vehicle models being sold in North America, Europe and China, and extend through 2032 based on the OEM’s next generation Driver Monitoring System (DMS) solution utilising Seeing Machines’ improved FOVIO Chip design delivering increased feature capability with reduced cost, power and size.
This award extends to all of the OEM’s European vehicle models in support of fast approaching Euro NCAP (New Car Assessment Program) and European GSR (General Safety Regulation) requirements and is scheduled to start production before the end of 2024 with an initial estimated incremental lifetime value of US$26m.
Nick DiFiore, SVP and GM of Automotive at Seeing Machines, commented: “I am delighted to be extending an important incumbency with this generational program extension, which benefits from our evolving FOVIO Chip technology supporting our Tier 1 and OEM customer’s long-term needs related to safe semi-automated driving, driver safety regulation, and enhanced convenience features. Seeing Machines’ commitment is firmly focused on building customer confidence by getting programs successfully to production and this new award demonstrates the confidence our customers have in our ability to do just that.”
Seeing Machines has now been appointed to deliver 18 expanding programs for 11 individual OEM customers, building the cumulative initial lifetime value of all ongoing Automotive programs to US$392m, with most of that revenue expected between now and 2028.
SOURCE: Seeing Machines
