logo-loader
Seeing Machines Limited

Seeing Machines plays down Volvo speculation

An online article claimed that Seeing Machines had won the contract to supply driver monitoring technology ahead of Swedish rival Smart Eye

cadillac car
Car giant General Motors was the first to use Seeing's technology in its cars

Seeing Machines Limited (LON:SEE) has moved to play down speculation that it has been appointed to deliver its driver monitoring technology to Swedish car giant Volvo.

An online article claimed that “the evidence is stacking up” that Seeing Machines beat off competition from Sweden-based rival Smart Eye to win the contract.

READ: Seeing Machines reshuffles board as fleet division manager becomes permanent CEO

But the AIM company has now responded to the claims, stating: “Seeing Machines was not consulted on the content of the article and no award has been confirmed.”

Seeing added it is currently working with six carmakers around the world – two premium German manufacturers, three in North America and another in China.

The company is also engaging with other potential partners “across a range of vehicle classes” in the US, Europe and Asia.

Its technology tracks the eye gaze, head position and pupil size of drivers or pilots to determine whether they are drowsy or distracted.

Car giant General Motors was the first to use the tech in 2017 when it launched the Cadillac CT6 with Super Cruise.

Shares were up 4.5% to 3.2p on Friday afternoon.

Quick facts: Seeing Machines Limited

Price: £0.04

Market: AIM
Market Cap: £136.29 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Seeing Machines Limited named herein, including the promotion by the Company of Seeing Machines Limited in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Seeing Machines 'focused on implementation, delivery and monetising its IP'

Seeing Machines PLC's (LON:SEE) Paul McGlone and Nick DiFiore caught up with Proactive's Andrew Scott while in London to update on progress across the firm's divisions. McGlone says the big focus for them going forward is implementation. ''We have a number of large contracts with OEMs...

on 07/10/2019

2 min read