Computer vision technology company Seeing Machines announced a generational program extension with an existing North American Tier-1 customer and original equipment manufacturer (OEM).
The initial program will expand to a total of 19 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 using Seeing Machines’ improved Fovio Chip design.
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$26 million.
“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,” said Seeing Machines senior vice president and general manager of automotive Nick DiFiore.
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“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$392 million, with most of that revenue expected between now and 2028.