Seeing Machines Limited 21st Century Smart Cars Act Legislation
June 07 2021 - 2:00AM
RNS Non-Regulatory
TIDMSEE
Seeing Machines Limited
07 June 2021
RNS REACH
7 June 2021
Seeing Machines Limited
21(st) Century Smart Cars Act would require DMS for all new US
cars
Seeing Machines Limited (AIM: SEE, "Seeing Machines" or the
"Company"), the advanced computer vision technology company that
designs AI-powered operator monitoring systems to improve transport
safety, welcomes additional momentum in the USA for mandatory
driver monitoring system (DMS) technology to assist in improving
safety on roads, with the introduction of the "21(st) Century Smart
Cars Act" ("the Act").
Introduced by Congresswoman Jan Schakowsky, a leading safety and
consumer rights trailblazer, the legislation forms part of a larger
automotive safety package, and would require a range of safety
technologies become standard on all US passenger vehicles within
four years, noting that they will be required to meet strong
performance requirements. Specifically, the legislation calls for
'direct driver monitoring' indicating that a camera will likely be
the primary requirement to determine driver engagement.
These developments in the US are completely aligned to Seeing
Machines' view that DMS is fundamental to the automotive transport
sector and that the fitment rate will accelerate substantially over
the coming years, globally. Seeing Machines is currently working
with all major US automotive manufacturers to deliver its
industry-leading technology, with some of these vehicles already in
production and on sale to consumers today, fitted with camera-based
DMS.
Paul McGlone, CEO of Seeing Machines commented: "More momentum
in the US is great news for Seeing Machines and, while not
surprising, further affirms our view on the total market
opportunity for camera-based DMS. We will continue our work with
our Tier 1 and OEM customers and with governments, industry bodies
and regulators around the world to influence the growing safety
agenda and look forward to more jurisdictions following in these
footsteps."
Enquiries:
Seeing Machines Limited +61 2 6103 4700
Paul McGlone - CEO
Sophie Nicoll - Corporate Communications
Cenkos Securities plc (Nominated Adviser and
Broker)
Neil McDonald
Pete Lynch +44 131 220 6939
Stifel Nicolaus Europe Limited (Joint Broker) +44 20 7710 7600
Alex Price
Nick Adams
Lionsgate Communications (Media Enquiries) +44 07791 892509
Jonathan Charles
Seeing Machines (LSE: SEE), a global company founded in 2000 and
headquartered in Australia, is an industry leader in vision-based
monitoring technology that enable machines to see, understand and
assist people. Seeing Machines' technology portfolio of AI
algorithms, embedded processing and optics, power products that
need to deliver reliable real-time understanding of vehicle
operators. The technology spans the critical measurement of where a
driver is looking, through to classification of their cognitive
state as it applies to accident risk. Reliable "driver state"
measurement is the end-goal of Driver Monitoring Systems (DMS)
technology. Seeing Machines develops DMS technology to drive safety
for Automotive, Commercial Fleet, Off-road and Aviation. The
company has offices in Australia, USA, Europe and Asia, and
supplies technology solutions and services to industry leaders in
each market vertical.
www.seeingmachines.com
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
Reach is a non-regulatory news service. By using this service an
issuer is confirming that the information contained within this
announcement is of a non-regulatory nature. Reach announcements are
identified with an orange label and the word "Reach" in the source
column of the News Explorer pages of London Stock Exchange's
website so that they are distinguished from the RNS UK regulatory
service. Other vendors subscribing for Reach press releases may use
a different method to distinguish Reach announcements from UK
regulatory news.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NRAUPURGQUPGPGQ
(END) Dow Jones Newswires
June 07, 2021 02:00 ET (06:00 GMT)
Seeing Machines (LSE:SEE)
Historical Stock Chart
From Apr 2024 to May 2024
Seeing Machines (LSE:SEE)
Historical Stock Chart
From May 2023 to May 2024