No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Computer vision technology business Seeing Machines said on Monday that it had chosen Mitsubishi Electric Automotive America as a referral partner to drive accelerated sales of its Guardian Generation 3 asset across the Americas.
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
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.
