STOCKHOLM, Nov. 11, 2019 /PRNewswire/ -- Smart Eye will deliver Driver Monitoring System (DMS) to a new and existing car manufacturer (OEM). The new OEM is one of Japan's largest and the second Japanese OEM for Smart Eye, which now cooperates in total with nine OEMs. Smart Eye's technology will be launched in 3 new car models, and the estimated revenue of the order is MSEK 100, based on forecasts of the estimated product life cycle.
The leading AI company Smart Eye AB (Nasdaq; SEYE) will deliver a so-called second generation DMS to a new Japanese OEM. The system will be available in a total of three new car models, of which one of the car models belongs to the new Japanese OEM and the remaining two are an extension of the order from the European OEM that was communicated in May this year. The system includes an AI feature for cars that facilitates driver safety and driving experience and includes gaze tracking and Face ID to prevent distraction and inattention of the driver. The car platform is the same as the one communicated in May this year, in connection with the announcement of the first Japanese OEM and the European OEM.
- It is with pride that we have secured another major Japanese OEM and more car models with an existing European OEM. We are in the midst of a transformation phase in which DMS will evolve from being an add-on for premium cars to becoming the standard in the mid-market segment. Smart Eye has positioned itself perfectly to take advantage of the opportunities offered as the market changes. We are now on the verge of achieving the really large volumes, says Martin Krantz, CEO of Smart Eye.
Kazuko Ogawara, Head of Smart Eye Japan Co.Ltd adds:
- After a competitive process, we are pleased to see our DMS technology selected by another leading Japanese OEM that gave us challenging requirements. Our ambitious team has once again shown that we continue to establish our position as a strong technical and global partner to our customers on the Japanese market. I look forward to our upcoming opportunities!
The three car models that include Smart Eye's DMS software have a planned start of production (SOP) in 2021-2022. Smart Eye has partnered with a major Tier 1 supplier to secure these design wins. In total, Smart Eye has now received 56 design wins from nine OEMs in the automotive industry, making the company the market leader in DMS technology. The total potential value of Smart Eyes design wins exceeds SEK 1.45 billion. Six car models with Smart Eyes technology have been launched in the market.
For more information
Martin Krantz, CEO Smart Eye AB
Phone: +46-70-329-26-98
Email: [email protected]
Anders Lyrheden, CFO Smart Eye AB
Phone: +46-70-320-96-95
Email: [email protected]
About Smart Eye
Since 1999 Smart Eye has been engaged in development of artificial intelligence (AI) in the form of eye tracking technology that understands, supports and predicts a person's intentions and actions. By carefully studying eye, facial and head movement, our technology can draw conclusions about a person's awareness and mental state.
Today our eye tracking technology is used in the next generation of cars and is helping the automotive industry take an important step towards safer and more environment-friendly transport solutions. In the research field, Smart Eye's solutions are providing new opportunities in complicated and real situations and are paving the way for new insights in the aerospace, aviation and defense industries as well as in the fields of psychology, neuroscience, medicine and academic research.
Smart Eye's head offices are in Gothenburg, Sweden, and the company also has offices in Detroit, Michigan (USA), Tokyo (Japan) and Chongqing (China). In addition to these offices of its own, Smart Eye also has partners, retailers and distributors in several locations in Europe, the USA and APAC. Smart Eye's solutions are used around the world by more than 700 partners and customers, leading research teams, brands and laboratories, including the US Air Force, NASA, BMW, Lockheed Martin, Audi, Boeing, Volvo and GM, to name a few.
Smart Eye's business is organized in three business areas, Research Instruments, Automotive Solutions and Applied AI Systems (AIS). In Research Instruments, Smart Eye provides advanced eye tracking systems for measuring and analyzing human behavior. In Automotive Solutions, the company provides eye tracking software for integration in vehicles. In AIS, Smart Eye provides both software and hardware for eye tracking integration in vehicles, specifically designed for retrofit for public transportation and commercial vehicles.
Visit www.smarteye.ai for more information.
Visit our investor web for more financial information: http://www.corp.smarteye.se/en/
This information is information that Smart Eye AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above at November 11, 2019 at 1 pm (CET).
Smart Eye is listed on Nasdaq First North Growth Market. Erik Penser is Certified Adviser and can be reached at +46-8-463 8000 or [email protected].
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SOURCE Smart Eye
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