- Seeing Machines Ltd. NPV (DI)
- 24 February 2025 10:40:54
Source: Sharecast
Seeing Machines said it had opted to sign the referral agreement with MEAA to allow it to leverage Mitsubishi's "significant aftermarket distribution network and customer base".
The AIM-listed firm also noted that following Mitsubishi Electric Mobility Corporation's recent strategic investment into Seeing Machines, the agreement will help to accelerate sales of its Guardian Generation 3 AI-powered driver monitoring solution.
Chief executive Paul McGlone said: "While there is a strong focus on automotive in Japan, the aftermarket opportunity that we are pursuing together with Mitsubishi Electric Automotive America, In., is immediate, material and strategic for our business.
"The Americas present an incredibly large and important market for driver safety technology and having intimate customer insights and existing relationships to leverage will be critical to the successful positioning and acceptance of our class-leading Guardian solution."
As of 1040 GMT, Seeing Machines shares were up 2.31% at 3.99p.
Reporting by Iain Gilbert at Sharecast.com