Japanese Auto Award and Extended European Program
Seeing Machines Limited announced new business awards totaling US$11.6 million, including an initial US$10 million lifetime value from an existing European Tier 1 customer for their Driver Monitoring System (DMS) technology, with production expected from 2028 to 2031. Additionally, the company secured a US$1.6 million program with Mitsubishi Electric Mobility Corporation for a Japanese OEM, also slated for production in 2028. These awards bring the cumulative initial lifetime value of all Seeing Machines Automotive programs to over US$400 million, with the majority anticipated by 2028, reinforcing their growth strategy and positioning for upcoming European regulatory deadlines.
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Seeing Machines announces new award in Japan and additional business with existing European Automotive Tier 1 customer
Seeing Machines Limited (AIM: SEE), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, is pleased to announce additional new business with an existing European Tier 1 and OEM customer. The initial program is already in production, incorporating the Company's Driver Monitoring System (DMS) technology.
To support the implementation of the Tier 1's enhanced interior perception system for this OEM customer as they launch semi-automation functionality, Seeing Machines' cutting-edge DMS technology will continue to be deployed to satisfy the OEM customer's overall driving experience needs, with enhanced safety and convenience.
The initial lifetime value of this new business is approximately US$10m and the additional program volume is expected to commence production in 2028 and continue through 2031.
Further, Seeing Machines has been appointed by Mitsubishi Electric Mobility Corporation (MELMB) to deliver a small program for a leading Japanese OEM, with production scheduled for 2028. This program, with an initial value of US$1.6m, reinforces Seeing Machines' long-term growth strategy with MELMB in Japan, and the Company is confident of securing additional opportunities as this progresses.
These new business awards bring the total cumulative initial lifetime value for all Seeing Machines Automotive programs won to date, to over US$400m, the majority of which is expected to be received by 2028.
Paul McGlone, CEO of Seeing Machines, commented: "We are delighted to extend our scope with this European Tier 1 customer as we collaborate to deliver leading edge DMS solutions and get more people home safely every day. And the announcement of our inaugural win with MELMB marks an important milestone for our operations in the region.
"As the July 2026 deadline for camera-based DMS in Europe approaches, it is our expectation that many current Automotive programs will be extended and potentially expanded to incorporate additional features. Leveraging our existing relationships will be instrumental in shaping our business expectations as OEMs address regulatory requirements for advanced distraction warning across the region. Our track record of successfully supporting programs to production is demonstrated by over 4 million vehicles equipped with our technology on the road as reported at the end of Q1 FY2026."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.