The company will deliver its DMS technology to 46 new car models by a major North American vehicle manufacturer. The estimated revenue of the order is SEK 1.55 billion based on estimated product life cycle projections.
Gothenburg, Sweden – December 18, 2023 – Smart Eye, the leading developer of DMS software for the automotive industry, today announced a major breakthrough order from one of the world’s largest OEMs. For the first time, Smart Eye will deliver its technology as a software Tier 1 supplier directly to the car manufacturer, with the software stack running on an advanced AI processing platform.
The customer, a large North American car manufacturer, already has several vehicle models with Smart Eye’s DMS technology on the road, with more cars to be launched in the coming years. These will remain in production with Smart Eye as a Tier 2 supplier until 2027, when the 46 new car models will ramp up its production with Smart Eye as a Tier 1 supplier.
The estimated revenue for the order is SEK 1.55 billion, based on product life cycle volume projections.
”This deal is the first of its kind. For Smart Eye to deliver our software as a Tier 1 supplier in a deal of this magnitude is an extremely significant development in more than one way,” said Martin Krantz, CEO and Founder of Smart Eye. “Not only does it bring us even closer to the customer, but it also points to a shift in the industry at large. We have entered a new era of software defined vehicles, where advanced AI takes automotive safety to new heights.“
Smart Eye has now received a total of up to 296 design wins from 20 OEMs. The combined estimated lifetime value from current design wins is now larger than SEK 6.715 billion. The estimated value over the product lifecycle from possible additional design wins with all 20 car manufacturers is SEK 3 billion.