European Luxury Sports Car Manufacturer Sources Smart Eye's Hardware and Software Driver Monitoring System
Smart Eye has secured a key order for its Driver Monitoring System (DMS), AIS, valued at SEK 40 million, from a European luxury sports car manufacturer. This marks a significant breakthrough for Smart Eye, as it signals the first time this customer sources their technology. The AIS system, which utilizes AI-based algorithms, aims to enhance road safety by detecting driver impairment. With a total of 103 design wins across 16 OEMs, the estimated lifetime value of current design wins exceeds SEK 2,585 million.
- New order for AIS valued at SEK 40 million.
- First contract with a European luxury sports car manufacturer.
- Total of 103 design wins from 16 OEMs.
- Estimated lifetime value from current design wins exceeds SEK 2,585 million.
- None.
GÖTEBORG, SE / ACCESSWIRE / December 5, 2022 / Smart Eye (STO:SEYE) (OTC PINK:SMTEF) (FRA:SE9) This new design win signals an important breakthrough for AIS, Smart Eye's end-to-end Driver Monitoring System (DMS) for small-volume OEMs, vehicle fleets and aftermarket customers. The estimated revenue of the order is SEK 40 million based on estimated product life cycle projections.
Smart Eye, the leading developer of DMS technology to the automotive industry, has received a new order for its AIS product - a complete hardware and software Driver Monitoring System for small-volume car manufacturers, commercial vehicles and the automotive aftermarket. The new customer, a European luxury sports car manufacturer, is sourcing Smart Eye's technology for the first time.
AIS uses Smart Eye's proven, automotive-grade Driver Monitoring System software which has already been implemented in more than 1,000,000 cars on the road. Combined with Smart Eye's proprietary new hardware, AIS provides an end-to-end driver monitoring system that is designed to detect driver impairment. Built with AI-based algorithms, the system improves overall road safety by detecting early signs of driver drowsiness or distraction.
The new car model to include Smart Eye's AIS system is estimated to go into production in mid 2024. The estimated revenue for the order is SEK 40 million, based on product life cycle volume projections. The potential value from additional design wins with the same OEM is SEK 70 million.
"This new design win is a major breakthrough for our AIS business" said Martin Krantz, CEO and Founder of Smart Eye. "To have our Driver Monitoring System technology be sourced by small-volume OEMs is a testament to the quality and credibility of our new product line. As DMS becomes a mandatory safety feature in many vehicles around the world, we can expect many more orders of this category."
Smart Eye has now received a total of 103 design wins from 16 OEMs. The combined estimated lifetime value from current design wins is now larger than SEK 2,585 million. Estimated value over the product lifecycle from possible additional design wins with the car manufacturers on existing platforms is now SEK 4,525 million.
For more information:
Martin Krantz, CEO Smart Eye AB
Phone: +46 70-329 26 98
Email: martin.krantz@smarteye.se
Gabi Zijderveld, CMO Smart Eye AB
Email: gabi.zijderveld@smarteye.ai
About Smart Eye
Smart Eye is the global leader in Human Insight AI, technology that understands, supports, and predicts human behavior in complex environments. We are bridging the gap between humans and machines for a safe and sustainable future. Our multimodal software and hardware solutions provide unprecedented human insight in automotive and behavioral research-supported also by Affectiva and iMotions, companies we acquired in 2021.
In automotive, we are leading the way towards safer and human-centric mobility through Driver Monitoring Systems and Interior Sensing solutions. Our technology is embedded in next-generation vehicles and available as a standalone aftermarket solution for existing vehicles, fleet, and small-volume OEMs.
Our industry-leading eye tracking systems and iMotions biosensor software enable advanced research and training in academic and commercial sectors. Affectiva's Emotion AI provides the world's largest brands and market researchers with a deeper understanding of how consumers engage with their content, products, and services.
Smart Eye was founded in 1999 and is headquartered in Sweden with offices in the US, UK, Germany, Denmark, Egypt, Singapore, China and Japan. A publicly traded company since 2016, our customers include NASA, Nissan, Boeing, Honeywell, Volvo, GM, BMW, Geely, Harvard University, over 1,300 research organizations around the world,
Visit www.smarteye.ai for more information.
Visit our investor web for more financial information: https://smarteye.se/investors/
Smart Eye is listed on Nasdaq First North Growth Market. Erik Penser is Certified Adviser.
This information is information that Smart Eye is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-12-05 14:15 CET.
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FAQ
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