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Seeing Machines Ltd.

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 Ltd.

Price: 4.275 GBX

Market: AIM
Market Cap: £143.86 m
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