LONDON (ShareCast) - (Sharecast News) - Seeing Machines announced on Wednesday that it has secured fresh automotive contracts worth a combined $11.6m, strengthening its position in Europe and marking its first award in Japan with Mitsubishi Electric Mobility Corporation.
The AIM-traded developer of driver monitoring systems said it had won additional business from an existing European tier one supplier and OEM customer, expanding a programme already in production.

It said its technology would support the supplier's enhanced interior perception system as the OEM introduced semi-automation features.

The new contract carried an initial lifetime value of about $10m, with production expected to run from 2028 to 2031.

Separately, the company said it had been appointed by Mitsubishi Electric Mobility Corporation to deliver a smaller programme for a leading Japanese carmaker, also scheduled to begin production in 2028.

The award was valued at $1.6m and represented Seeing Machines' first win with MELMB, which it said provides a platform for further opportunities in the Japanese market.

It said the latest deals lifted the total cumulative initial lifetime value of all the company's automotive programmes to more than $400m, the majority of which was expected to be received by 2028.

Chief executive Paul McGlone said the awards reflected growing regulatory and commercial demand for driver monitoring technology.

"We are delighted to extend our scope with this European tier one customer as we collaborate to deliver leading edge DMS solutions and get more people home safely every day," he said.

"And the announcement of our inaugural win with MELMB marks an important milestone for our operations in the region."

McGlone added that new safety rules were likely to drive further business.

"As the July 2026 deadline for camera-based DMS in Europe approaches, it is our expectation that many current automotive programs will be extended and potentially expanded to incorporate additional features.

"Leveraging our existing relationships will be instrumental in shaping our business expectations as OEMs address regulatory requirements for advanced distraction warning across the region.

"Our track record of successfully supporting programs to production is demonstrated by over four million vehicles equipped with our technology on the road as reported at the end of the first quarter of 2026."

At 1105 GMT, shares in Seeing Machines were down 1.88% at 4.71p.

Reporting by Josh White for Sharecast.com.

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