Seeing Machines secures $31m automotive contract extension

(Sharecast News) - Seeing Machines said on Thursday that it had secured a $31m expansion of an existing automotive production programme with a major European carmaker. The AIM-taded transport safety technology company said the expansion would see its Driver and Occupant Monitoring System technology deployed across additional vehicle models, with production expected to begin in the second half of 2026.

The programme is being delivered with a key Tier 1 customer and broadens existing production activity across China, the United States and Europe.

Chief executive Paul McGlone said the expansion was "a significant milestone" and reflected "both the strength of our technology and the depth of our existing OEM and Tier 1 relationships".

He added that broader deployment across vehicle portfolios showed the potential for programme value to grow over time.

At 1126 BST, shares in Seeing Machines were up 9% at 4.63p.

Reporting by Josh White for Sharecast.com.

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