Smart Eye has been chosen to deliver its technology to eight new heavy vehicle models by a global commercial vehicle customer. The estimated revenue of the order is SEK 150 million, based on product life cycle projections.
GÖTEBORG, SE / ACCESSWIRE / February 27, 2023 / Smart Eye (STO:SEYE)(OTC PINK:SMTEF)(FRA:SE9) Smart Eye, the leading developer of Driver Monitoring System (DMS) software for the automotive industry, has in partnership with a global Tier 1 supplier received a breakthrough order from a manufacturer of vehicles in the medium to heavy-duty segment. The customer is a heavy vehicle OEM with a global manufacturing base and three renowned brands, headquartered in Europe.
The new customer is the first major heavy truck manufacturer to source Smart Eye's technology for some of its upcoming vehicle models. As a result, this new order establishes Smart Eye in the heavy commercial vehicle segment.
The new vehicle models including Smart Eye's technology will go into production in 2025 and ramp up significantly in 2026 when the European legislation mandating DMS in all EU vehicles comes into force. The estimated revenue for the order is SEK 150 million, based on product life cycle volume projections, with a future potential of at least SEK 400 million.
"This new order represents an important breakthrough in the heavy commercial vehicle market for Smart Eye," said Martin Krantz, CEO and Founder of Smart Eye. "As new EU legislation mandates the implementation of DMS in all new vehicles on European roads by 2026, all major heavy vehicle manufacturers will need to move fast to procure this technology for their upcoming models. It is both expected and satisfying to see heavy vehicle manufacturers follow the example set by personal car manufacturers and choose Smart Eye for future-proofing their new vehicle models."
Smart Eye has now received a total of up to 205 design wins from 19 OEMs. The combined estimated lifetime value from current design wins is now larger than SEK 4.015 billion. The estimated value over the product lifecycle from possible additional design wins with the car manufacturers on existing platforms is SEK 4.445 billion.
For more information:
Martin Krantz, CEO Smart Eye AB
Phone: +46 70-329 26 98
Email: [email protected]
Gabi Zijderveld, CMO Smart Eye AB
Email: [email protected]
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, 70% of the world's largest advertisers and 28% of the Fortune Global 500 companies.
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 2023-02-27 13:30 CET.
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Smart Eye Announces Eight Breakthrough Driver Monitoring System Design Wins for Commercial Vehicles
SOURCE: Smart Eye