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Smart Eye AB receives a new design win from one of China’s largest OEMs. The order is for one new car model on a new platform, with an estimated revenue of 50 MSEK, based on forecasts of the estimated product life cycle. The potential value from additional design wins on the new platform exceeds 300 MSEK.
Smart Eye, a world leader in developing AI-powered eye tracking technology, will deliver their driver monitoring solution to another major Chinese OEM. The new car model is estimated to go into production during Q1 2022.
The customer is one of the largest OEMs in China, and Smart Eye’s third customer on the Chinese market. In order to secure the order, Smart Eye has partnered with a global Tier 1 supplier.
– The Chinese market with its size and projected growth is strategically important and we are very proud that one of the top Chinese OEMs has picked Smart Eye’s driver monitoring solution. It shows that our long-term commitment to this market is bearing fruit and that our dedication to quality is equally valued in China and on the global automotive market, says Martin Krantz, CEO of Smart Eye.
With the latest contract, Smart Eye has received a total of 84 design wins from 13 OEMs. The combined estimated lifetime value from current design wins is now larger than 2150 MSEK. The potential of securing more car models on the new platforms is at least 300 MSEK. Estimated value over the product lifecycle from possible additional design wins with the car manufacturers on existing platforms is now 4100 MSEK.
For more information:
Martin Krantz, CEO Smart Eye AB
Phone: +46 70-329 26 98
Email: martin.krantz@smarteye.se
Anders Lyrheden, CFO Smart Eye AB
Phone: +46 70-320 96 95
Email: anders.lyrheden@smarteye.se
About Smart Eye
Smart Eye is leading the way towards safe and sustainable transportation. Every year, 1.2 million people lose their lives in traffic-related accidents around the world, another 50 million are injured. Our firm belief is that science and technology can help turning this around.
For over 20 years Smart Eye has developed 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. Our eye tracking technology is used in the next generation of cars, commercial vehicles and providing new insights for research within aerospace, aviation, neuroscience and more.
Smart Eye’s solutions are used around the world by more than 700 partners and customers, including the US Air Force, NASA, BMW, Lockheed Martin, Audi, Boeing, Volvo and GM.
Visit www.smarteye.ai for more information.
Visit our investor web for more financial information: http://www.corp.smarteye.se/en/
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 certifiedadviser@penser.se.
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 2021-01-13 10:00 CET.