Seeing Machines gears up with Mitsubishi Electric pilot; shares up 10%
Last updated: 16:30 27 Jun 2025 BST, First published: 16:25 27 Jun 2025 BST
Seeing Machines Ltd (AIM:SEE, OTC:SEEMF) has launched a new pilot with a North American subsidiary of Mitsubishi Electric, which Stifel views as a positive step in expanding its presence in the region’s automotive safety market.
Certainly, the market appears to agree with the shares rising 10% to 2.95p.
The six-week trial, announced this week, will test Seeing Machines’ Guardian Generation 3 aftermarket driver monitoring system.
It follows a referral agreement signed in February with Mitsubishi Electric Automotive America (MEAA). Stifel notes that MEAA is a large and complex organisation, with operations spanning over 50 sites across North America.
In commentary included in the announcement, MEAA’s chief executive described the pilot as a “significant step forward” and pointed to strong collaboration between the two teams.
Stifel sees this as a promising sign, especially as Seeing Machines confirmed that several other trials are currently underway, representing a potential market of more than 18,000 vehicles.
While no further details have been disclosed about the pilot’s next stages, Stifel says it is encouraged by the momentum behind the partnership.
The broker also highlights recent wins elsewhere in the business, including a $1.2 million contract for its bus safety tech and the integration of its driver and occupant monitoring systems into the 2026 Audi line-up via Magna.
This integration helps meet new EU General Safety Regulation requirements coming into force from July 2026.
Stifel maintains its buy rating on Seeing Machines and says it is looking ahead to further updates, including the company’s Q4 performance figures due in early August.
